BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Patrick Wolfe Purchases 6,100 Shares of Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Patrick Wolfe acquired 6,100 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $8.12 per share, with a total value of $49,532.00. Following the transaction, the chief operating officer now owns 8,003 shares of the company’s stock, valued at approximately $64,984.36. The trade was a 320.55 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC opened at $7.74 on Tuesday. The business’s 50-day simple moving average is $8.84 and its 200-day simple moving average is $8.74. 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 $7.71 and a 52 week high of $11.52. The firm has a market cap of $658.50 million, a price-to-earnings ratio of -15.48 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.92%. The ex-dividend date is Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is -133.33%.

Institutional Trading of BlackRock TCP Capital

A number of institutional investors and hedge funds have recently modified their holdings of TCPC. Jane Street Group LLC grew its stake in BlackRock TCP Capital by 189.3% in the 3rd quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock valued at $302,000 after buying an additional 23,857 shares during the last quarter. Columbus Macro LLC bought a new stake in BlackRock TCP Capital during the fourth quarter valued at about $4,177,000. GraniteShares Advisors LLC acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at about $2,453,000. EP Wealth Advisors LLC bought a new position in shares of BlackRock TCP Capital in the third quarter worth about $526,000. Finally, Paloma Partners Management Co acquired a new position in shares of BlackRock TCP Capital during the 3rd quarter worth about $608,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TCPC shares. Keefe, Bruyette & Woods reduced 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. Wells Fargo & Company reduced their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, February 28th. Finally, StockNews.com lowered shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, BlackRock TCP Capital presently has an average rating of “Hold” and an average target price of $8.67.

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.