BlackRock TCP Capital Corp. (NASDAQ:TCPC) Director Acquires $45,350.00 in Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) Director Philip M. Tseng purchased 5,000 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the acquisition, the director now owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC traded down $0.07 during mid-day trading on Tuesday, reaching $9.07. 382,536 shares of the company were exchanged, compared to its average volume of 457,938. The stock has a market capitalization of $776.30 million, a PE ratio of 25.92 and a beta of 1.48. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. BlackRock TCP Capital Corp. has a 52 week low of $8.59 and a 52 week high of $12.59. The company’s 50 day moving average price is $9.93 and its 200 day moving average price is $10.34.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same period last year, the business earned $0.48 earnings per share. Sell-side analysts forecast that BlackRock TCP Capital Corp. will post 1.68 earnings per share for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 14.99%. The ex-dividend date is Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company lowered BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $8.50 to $8.00 in a research note on Monday, August 26th. Finally, Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Barings LLC boosted its position in BlackRock TCP Capital by 3,878.9% during the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after buying an additional 17,053,151 shares during the period. Van ECK Associates Corp boosted its holdings in shares of BlackRock TCP Capital by 17.0% during the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock worth $21,205,000 after purchasing an additional 284,802 shares during the period. Transcend Capital Advisors LLC increased its holdings in BlackRock TCP Capital by 61.5% during the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after purchasing an additional 297,393 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in BlackRock TCP Capital by 12.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock valued at $5,442,000 after purchasing an additional 54,786 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in BlackRock TCP Capital by 7.6% in the 2nd quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock worth $5,057,000 after buying an additional 33,147 shares during the period.

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.