BlackRock TCP Capital Corp. (NASDAQ:TCPC) Director Purchases $91,000.00 in Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) Director Philip M. Tseng purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were bought at an average price of $9.10 per share, with a total value of $91,000.00. Following the purchase, the director now directly owns 27,481 shares of the company’s stock, valued at $250,077.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

BlackRock TCP Capital Stock Up 0.7 %

TCPC stock opened at $9.13 on Thursday. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51. The company’s 50-day moving average price is $9.85 and its 200 day moving average price is $10.32. BlackRock TCP Capital Corp. has a 52 week low of $8.59 and a 52 week high of $12.59. The company has a market cap of $781.45 million, a P/E ratio of 26.09 and a beta of 1.48.

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

BlackRock TCP Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.34 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.36 annualized dividend and a dividend yield of 14.90%. BlackRock TCP Capital’s dividend payout ratio is presently 388.57%.

Hedge Funds Weigh In On BlackRock TCP Capital

Several hedge funds have recently added to or reduced their stakes in the business. Barings LLC lifted its holdings in shares of BlackRock TCP Capital by 3,878.9% in the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after purchasing an additional 17,053,151 shares in the last quarter. Van ECK Associates Corp lifted its stake in BlackRock TCP Capital by 17.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after buying an additional 284,802 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in BlackRock TCP Capital by 61.5% during the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after buying an additional 297,393 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in BlackRock TCP Capital by 12.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock worth $5,442,000 after buying an additional 54,786 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of BlackRock TCP Capital by 7.6% in the second quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock worth $5,057,000 after acquiring an additional 33,147 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

BlackRock TCP Capital Company Profile

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.