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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Patrick Wolfe purchased 6,100 shares of BlackRock TCP Capital stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $8.12 per share, with a total value of $49,532.00. Following the completion of the acquisition, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. This trade represents a 320.55 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

BlackRock TCP Capital Stock Down 4.2 %

Shares of TCPC opened at $7.74 on Tuesday. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average price of $8.84 and a two-hundred day moving average price of $8.74. The stock 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 Corp. has a 12 month low of $7.71 and a 12 month high of $11.52.

BlackRock TCP Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 12.92%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

Institutional Trading of BlackRock TCP Capital

Large investors have recently bought and sold shares of the stock. M Holdings Securities Inc. lifted its holdings in shares of BlackRock TCP Capital by 2.5% during the fourth quarter. M Holdings Securities Inc. now owns 77,760 shares of the investment management company’s stock valued at $677,000 after acquiring an additional 1,890 shares during the period. Mariner LLC lifted its holdings in BlackRock TCP Capital by 9.4% during the 4th quarter. Mariner LLC now owns 27,293 shares of the investment management company’s stock valued at $238,000 after purchasing an additional 2,346 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in BlackRock TCP Capital by 18.8% in the fourth quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company’s stock valued at $130,000 after buying an additional 2,350 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in BlackRock TCP Capital by 177.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after buying an additional 3,508 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its holdings in shares of BlackRock TCP Capital by 33.3% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 16,000 shares of the investment management company’s stock worth $139,000 after buying an additional 4,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TCPC shares. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. Wells Fargo & Company decreased their price objective 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. Finally, Keefe, Bruyette & Woods lowered their price objective on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, BlackRock TCP Capital presently 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.