BlackRock TCP Capital Corp. (NASDAQ:TCPC) Director Eric John Draut Purchases 1,900 Shares of Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) Director Eric John Draut acquired 1,900 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $9.14 per share, with a total value of $17,366.00. Following the purchase, the director now owns 55,532 shares in the company, valued at approximately $507,562.48. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Eric John Draut also recently made the following trade(s):

• On Friday, August 30th, Eric John Draut bought 100 shares of BlackRock TCP Capital stock. The stock was acquired at an average cost of $9.09 per share, with a total value of $909.00.

BlackRock TCP Capital Trading Down 1.2 %

Shares of BlackRock TCP Capital stock opened at $9.06 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47. The stock has a market capitalization of $775.45 million, a P/E ratio of 25.89 and a beta of 1.48. BlackRock TCP Capital Corp. has a 52-week low of $8.59 and a 52-week high of $12.59. The stock’s 50-day simple moving average is $10.06 and its 200 day simple moving average is $10.40.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same period in the previous year, the business earned $0.48 EPS. As a group, research analysts anticipate that BlackRock TCP Capital Corp. will post 1.68 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a yield of 15.01%. BlackRock TCP Capital’s dividend payout ratio (DPR) is 388.58%.

Wall Street Analyst Weigh In

TCPC has been the topic of several research analyst reports. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. StockNews.com lowered shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods lowered their price objective on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company downgraded shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $8.50 to $8.00 in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TCPC. BI Asset Management Fondsmaeglerselskab A S grew its stake in BlackRock TCP Capital by 87.2% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 185,041 shares of the investment management company’s stock valued at $1,930,000 after acquiring an additional 86,215 shares in the last quarter. Spire Wealth Management grew its position in BlackRock TCP Capital by 15.6% during the fourth quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock worth $149,000 after buying an additional 1,730 shares in the last quarter. Confluence Investment Management LLC bought a new position in BlackRock TCP Capital in the 1st quarter worth about $4,172,000. Cetera Advisors LLC purchased a new stake in shares of BlackRock TCP Capital in the 1st quarter valued at about $185,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of BlackRock TCP Capital during the 1st quarter valued at about $31,000.

About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.