BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Purchases $77,400.00 in Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Philip M. Tseng bought 10,000 shares of the stock in a transaction dated Friday, March 21st. The stock was purchased at an average price of $7.74 per share, with a total value of $77,400.00. Following the acquisition, the chief executive officer now owns 38,587 shares of the company’s stock, valued at $298,663.38. The trade was a 34.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

BlackRock TCP Capital Stock Performance

Shares of TCPC stock opened at $7.73 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The firm has a market cap of $657.65 million, a price-to-earnings ratio of -15.46 and a beta of 1.55. BlackRock TCP Capital Corp. has a 52 week low of $7.67 and a 52 week high of $11.52. The firm’s 50-day simple moving average is $8.77 and its two-hundred day simple moving average is $8.70.

BlackRock TCP Capital Cuts Dividend

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

Hedge Funds Weigh In On BlackRock TCP Capital

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

Several equities research analysts have commented on TCPC shares. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods reduced their target price 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 dropped their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, BlackRock TCP Capital has a consensus rating of “Hold” and an average price target 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.