Philip M. Tseng Buys 10,000 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Philip M. Tseng bought 10,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were bought at an average price of $7.74 per share, with a total value of $77,400.00. Following the completion of the transaction, the chief executive officer now owns 38,587 shares in the company, valued at approximately $298,663.38. This trade represents a 34.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $7.73 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. BlackRock TCP Capital Corp. has a 52 week low of $7.67 and a 52 week high of $11.52. The stock has a market capitalization of $657.65 million, a P/E ratio of -15.46 and a beta of 1.55. The stock has a fifty day moving average of $8.77 and a 200-day moving average of $8.70.

BlackRock TCP Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 12.94%. BlackRock TCP Capital’s payout ratio is presently -133.33%.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CF Capital LLC acquired a new position in BlackRock TCP Capital in the 4th quarter worth about $243,000. Balyasny Asset Management L.P. acquired a new position in BlackRock TCP Capital in the 4th quarter worth about $177,000. Jane Street Group LLC increased its holdings in BlackRock TCP Capital by 291.5% in the 4th quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company’s stock worth $1,243,000 after purchasing an additional 106,257 shares in the last quarter. Talon Private Wealth LLC acquired a new position in BlackRock TCP Capital in the 4th quarter worth about $276,000. Finally, Aquatic Capital Management LLC increased its holdings in BlackRock TCP Capital by 146.4% in the 4th quarter. Aquatic Capital Management LLC now owns 34,000 shares of the investment management company’s stock worth $296,000 after purchasing an additional 20,200 shares in the last quarter.

Analyst Upgrades and Downgrades

TCPC has been the subject of a number of recent analyst reports. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods lowered their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company lowered their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.67.

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.