Dynamic Technology Lab Private Ltd Reduces Holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Dynamic Technology Lab Private Ltd lowered its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 12.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,064 shares of the investment management company’s stock after selling 3,813 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in BlackRock TCP Capital were worth $227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TCPC. ExodusPoint Capital Management LP purchased a new position in BlackRock TCP Capital in the 4th quarter worth $161,000. TrueMark Investments LLC acquired a new position in shares of BlackRock TCP Capital in the fourth quarter valued at about $5,268,000. Samalin Investment Counsel LLC raised its stake in shares of BlackRock TCP Capital by 68.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 105,823 shares of the investment management company’s stock worth $922,000 after purchasing an additional 42,827 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter worth about $329,000. Finally, VSM Wealth Advisory LLC purchased a new stake in BlackRock TCP Capital in the fourth quarter valued at approximately $84,000.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC opened at $6.57 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The stock has a market capitalization of $558.96 million, a price-to-earnings ratio of -13.14 and a beta of 1.21. The firm’s 50 day simple moving average is $8.22 and its 200-day simple moving average is $8.54. BlackRock TCP Capital Corp. has a 12 month low of $6.27 and a 12 month high of $11.52.

BlackRock TCP Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 15.22%. BlackRock TCP Capital’s payout ratio is -133.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TCPC shares. Wells Fargo & Company reduced their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating for the company in a report on Tuesday. Finally, StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.33.

Insiders Place Their Bets

In other BlackRock TCP Capital news, COO Patrick Wolfe bought 6,100 shares of BlackRock TCP Capital stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $8.12 per share, with a total value of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. This represents a 320.55 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Philip M. Tseng bought 10,000 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the transaction, the chief executive officer now directly owns 38,587 shares in the company, valued at approximately $298,663.38. This represents a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 18,500 shares of company stock worth $146,444. Company insiders own 0.16% of the company’s stock.

BlackRock TCP Capital 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.