Insider Buying: BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Acquires 2,400 Shares of Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Jason Mehring acquired 2,400 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $8.13 per share, for a total transaction of $19,512.00. Following the completion of the acquisition, the president now owns 22,442 shares in the company, valued at approximately $182,453.46. The trade was a 11.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BlackRock TCP Capital Stock Down 2.0 %

TCPC traded down $0.16 during trading hours on Thursday, hitting $7.96. 895,618 shares of the company’s stock were exchanged, compared to its average volume of 623,773. BlackRock TCP Capital Corp. has a 12-month low of $7.71 and a 12-month high of $11.52. The firm has a 50 day moving average of $8.89 and a 200 day moving average of $8.76. The firm has a market cap of $677.21 million, a P/E ratio of -15.92 and a beta of 1.55. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.56%. The ex-dividend date is Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is presently -133.33%.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of large investors have recently modified their holdings of the company. Jane Street Group LLC boosted its stake in BlackRock TCP Capital by 189.3% during the 3rd quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock worth $302,000 after purchasing an additional 23,857 shares during the period. Columbus Macro LLC acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter worth approximately $4,177,000. GraniteShares Advisors LLC purchased a new stake in BlackRock TCP Capital during the fourth quarter worth approximately $2,453,000. EP Wealth Advisors LLC acquired a new stake in BlackRock TCP Capital in the third quarter valued at $526,000. Finally, Paloma Partners Management Co acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth $608,000.

Analyst Ratings Changes

Several brokerages have recently commented on TCPC. StockNews.com lowered shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods decreased their price objective on shares of 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 decreased their price objective on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, BlackRock TCP Capital has a consensus 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.