Insider Buying: BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Acquires 10,000 Shares of Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Philip M. Tseng acquired 10,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, March 21st. The shares were acquired 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 of the company’s stock, valued at approximately $298,663.38. This trade represents a 34.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC traded up $0.01 during trading on Friday, hitting $7.73. The company had a trading volume of 596,093 shares, compared to its average volume of 557,668. The company has a market cap of $657.65 million, a P/E 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 business’s 50-day moving average is $8.79 and its 200 day moving average is $8.71. 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 Cuts Dividend

The business also recently declared 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 is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 12.94%. BlackRock TCP Capital’s dividend payout ratio is currently -133.33%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TCPC. Avior Wealth Management LLC acquired a new stake in BlackRock TCP Capital during the 4th quarter valued at $38,000. McIlrath & Eck LLC acquired a new stake in BlackRock TCP Capital during the 3rd quarter valued at $46,000. Tower Research Capital LLC TRC raised its stake in BlackRock TCP Capital by 177.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after purchasing an additional 3,508 shares during the period. Transce3nd LLC acquired a new stake in BlackRock TCP Capital during the 4th quarter valued at $70,000. Finally, Quantbot Technologies LP acquired a new stake in BlackRock TCP Capital during the 3rd quarter valued at $79,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods dropped their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Friday, February 28th. Finally, Wells Fargo & Company dropped their target price 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 issued a hold rating to the stock. According to MarketBeat, 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.