Philip M. Tseng Buys 10,000 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) Director Philip M. Tseng acquired 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the transaction, the director now owns 27,481 shares in the company, valued at approximately $250,077.10. The purchase was disclosed in a document filed with the SEC, which is available at this link.

BlackRock TCP Capital Stock Down 0.8 %

Shares of NASDAQ:TCPC traded down $0.07 during midday trading on Tuesday, hitting $9.07. 382,536 shares of the company’s stock traded hands, compared to its average volume of 457,938. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47. BlackRock TCP Capital Corp. has a twelve month low of $8.59 and a twelve month high of $12.59. The company has a market cap of $776.30 million, a PE ratio of 26.12 and a beta of 1.48. The firm’s fifty day moving average price is $9.93 and its two-hundred day moving average price is $10.34.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.39 million. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. During the same quarter in the previous year, the firm posted $0.48 EPS. On average, equities research analysts anticipate that BlackRock TCP Capital Corp. will post 1.68 EPS for the current fiscal year.

BlackRock TCP Capital Announces Dividend

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

Institutional Investors Weigh In On BlackRock TCP Capital

A number of large investors have recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of BlackRock TCP Capital by 87.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 185,041 shares of the investment management company’s stock worth $1,930,000 after purchasing an additional 86,215 shares during the last quarter. Spire Wealth Management raised its holdings in BlackRock TCP Capital by 15.6% in the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock valued at $149,000 after acquiring an additional 1,730 shares in the last quarter. Confluence Investment Management LLC acquired a new position in BlackRock TCP Capital during the first quarter valued at approximately $4,172,000. Cetera Advisors LLC bought a new position in shares of BlackRock TCP Capital in the first quarter worth about $185,000. Finally, Future Financial Wealth Managment LLC acquired a new position in BlackRock TCP Capital in the 1st quarter worth about $31,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on TCPC. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company cut BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $8.50 to $8.00 in a research report on Monday, August 26th. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, LADENBURG THALM/SH SH cut shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.00.

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.