BlackRock TCP Capital (NASDAQ:TCPC) Sets New 12-Month Low – Time to Sell?

BlackRock TCP Capital Corp. (NASDAQ:TCPC) shares reached a new 52-week low on Tuesday . The stock traded as low as $7.71 and last traded at $7.81, with a volume of 100671 shares trading hands. The stock had previously closed at $7.74.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company reduced 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. Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday, February 28th. Finally, StockNews.com downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, BlackRock TCP Capital presently has a consensus rating of “Hold” and an average target price of $8.67.

BlackRock TCP Capital Stock Performance

The stock has a market capitalization of $661.47 million, a price-to-earnings ratio of -15.55 and a beta of 1.55. The company’s 50-day simple moving average is $8.84 and its 200-day simple moving average is $8.74. 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 business also recently declared 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 is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 12.86%. BlackRock TCP Capital’s payout ratio is -133.33%.

Insider Transactions at BlackRock TCP Capital

In other news, COO Patrick Wolfe bought 6,100 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was 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 owns 8,003 shares of the company’s stock, valued at $64,984.36. This trade represents a 320.55 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. CF Capital LLC acquired a new stake in BlackRock TCP Capital in the 4th quarter valued at $243,000. Balyasny Asset Management L.P. bought a new position in BlackRock TCP Capital in the 4th quarter worth approximately $177,000. Jane Street Group LLC raised its stake in shares of BlackRock TCP Capital by 291.5% during the 4th quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company’s stock valued at $1,243,000 after purchasing an additional 106,257 shares during the period. Talon Private Wealth LLC bought a new position in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $276,000. Finally, Aquatic Capital Management LLC increased its holdings in shares of BlackRock TCP Capital by 146.4% in the fourth quarter. Aquatic Capital Management LLC now owns 34,000 shares of the investment management company’s stock worth $296,000 after purchasing an additional 20,200 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.