BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Jason Mehring Purchases 2,400 Shares

BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Jason Mehring purchased 2,400 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was purchased 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 of the company’s stock, valued at approximately $182,453.46. This represents a 11.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC opened at $7.96 on Friday. The stock has a market capitalization of $677.21 million, a PE ratio of -15.92 and a beta of 1.55. BlackRock TCP Capital Corp. has a 52 week low of $7.71 and a 52 week high of $11.52. The stock has a 50 day moving average price of $8.89 and a 200 day moving average price of $8.76. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37.

BlackRock TCP Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 annualized dividend and a dividend yield of 12.56%. BlackRock TCP Capital’s dividend payout ratio is presently -133.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TCPC shares. StockNews.com lowered BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, March 4th. Wells Fargo & Company lowered 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. Finally, Keefe, Bruyette & Woods reduced their target price on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a 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’s stock. According to data from MarketBeat, BlackRock TCP Capital presently has an average rating of “Hold” and an average price target of $8.67.

Institutional Trading of BlackRock TCP Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC bought a new position in shares of BlackRock TCP Capital in the 4th quarter valued at about $38,000. McIlrath & Eck LLC bought a new stake in shares of BlackRock TCP Capital in the 3rd quarter valued at about $46,000. Tower Research Capital LLC TRC lifted its stake in BlackRock TCP Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after purchasing an additional 3,508 shares during the last quarter. Transce3nd LLC bought a new position in BlackRock TCP Capital during the fourth quarter worth about $70,000. Finally, Quantbot Technologies LP acquired a new position in BlackRock TCP Capital during the third quarter worth approximately $79,000.

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.