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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Patrick Wolfe bought 6,100 shares of the business’s stock in a transaction on Friday, March 14th. The shares were acquired at an average price of $8.12 per share, with a total value of $49,532.00. Following the transaction, the chief operating officer now directly owns 8,003 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink.

BlackRock TCP Capital Trading Up 0.9 %

Shares of TCPC opened at $7.81 on Wednesday. The firm’s 50 day simple moving average is $8.82 and its 200 day simple moving average is $8.73. The company has a market capitalization of $664.45 million, a P/E ratio of -15.62 and a beta of 1.55. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. BlackRock TCP Capital Corp. has a 1-year low of $7.71 and a 1-year high of $11.52.

BlackRock TCP Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 12.80%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Jane Street Group LLC raised its stake in shares of BlackRock TCP Capital by 189.3% during the third quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock worth $302,000 after acquiring an additional 23,857 shares in the last quarter. Columbus Macro LLC purchased a new position in shares of BlackRock TCP Capital during the fourth quarter worth approximately $4,177,000. GraniteShares Advisors LLC purchased a new position in shares of BlackRock TCP Capital during the fourth quarter worth approximately $2,453,000. EP Wealth Advisors LLC purchased a new position in shares of BlackRock TCP Capital in the third quarter worth $526,000. Finally, Paloma Partners Management Co purchased a new position in shares of BlackRock TCP Capital in the third quarter worth $608,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on TCPC shares. Wells Fargo & Company cut their price objective 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. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods cut their price objective on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus price target of $8.67.

BlackRock TCP Capital Company 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.