TrueMark Investments LLC Acquires New Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

TrueMark Investments LLC bought a new position in BlackRock TCP Capital Corp. (NASDAQ:TCPC) in the fourth quarter, HoldingsChannel reports. The fund bought 604,833 shares of the investment management company’s stock, valued at approximately $5,268,000. BlackRock TCP Capital makes up approximately 1.7% of TrueMark Investments LLC’s portfolio, making the stock its 14th biggest position.

A number of other institutional investors also recently modified their holdings of the stock. Jane Street Group LLC raised its holdings 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 acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at about $4,177,000. GraniteShares Advisors LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at approximately $2,453,000. EP Wealth Advisors LLC acquired a new position in BlackRock TCP Capital in the third quarter worth approximately $526,000. Finally, Paloma Partners Management Co bought a new position in BlackRock TCP Capital during the third quarter valued at approximately $608,000.

BlackRock TCP Capital Stock Performance

NASDAQ:TCPC opened at $7.92 on Wednesday. The firm has a market capitalization of $673.81 million, a PE ratio of -15.84 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 Corp. has a 1 year low of $7.67 and a 1 year high of $11.52. The firm’s fifty day simple moving average is $8.74 and its 200 day simple moving average is $8.68.

BlackRock TCP Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.63%. BlackRock TCP Capital’s payout ratio is presently -133.33%.

Insider Buying and Selling

In related news, CEO Philip M. Tseng bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the purchase, the chief executive officer now directly owns 38,587 shares in the company, valued at $298,663.38. This trade represents a 34.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Patrick Wolfe purchased 6,100 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was bought at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the transaction, the chief operating officer now directly owns 8,003 shares in the company, valued at approximately $64,984.36. The trade was a 320.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 18,500 shares of company stock valued at $146,444. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Friday, February 28th. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company lowered 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. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, BlackRock TCP Capital presently has a consensus rating of “Hold” and an average target price 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.