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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) Director Philip M. Tseng acquired 5,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price 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 in the company, valued at approximately $158,552.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

BlackRock TCP Capital Price Performance

Shares of TCPC opened at $8.94 on Friday. The company has a market cap of $765.17 million, a P/E ratio of 25.54 and a beta of 1.48. BlackRock TCP Capital Corp. has a fifty-two week low of $8.59 and a fifty-two week high of $12.59. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. The firm’s 50 day moving average price is $9.81 and its 200 day moving average price is $10.31.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $71.53 million for 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 prior year, the company earned $0.48 earnings per share. On average, research analysts forecast that BlackRock TCP Capital Corp. will post 1.68 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.36 annualized dividend and a yield of 15.21%. BlackRock TCP Capital’s dividend payout ratio (DPR) is 388.58%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On BlackRock TCP Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Register Financial Advisors LLC acquired a new stake in BlackRock TCP Capital in the first quarter valued at $26,000. Future Financial Wealth Managment LLC purchased a new position in shares of BlackRock TCP Capital in the 1st quarter valued at about $31,000. International Assets Investment Management LLC acquired a new stake in shares of BlackRock TCP Capital during the 2nd quarter worth about $60,000. Tucker Asset Management LLC purchased a new stake in BlackRock TCP Capital during the fourth quarter worth approximately $74,000. Finally, Cape Investment Advisory Inc. acquired a new position in BlackRock TCP Capital in the fourth quarter valued at approximately $74,000.

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.