BlackRock TCP Capital (NASDAQ:TCPC) Reaches New 1-Year Low at $8.43

BlackRock TCP Capital Corp. (NASDAQ:TCPC) shares hit a new 52-week low on Tuesday . The stock traded as low as $8.43 and last traded at $8.49, with a volume of 127684 shares. The stock had previously closed at $8.67.

Wall Street Analysts Forecast Growth

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

BlackRock TCP Capital Stock Performance

The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47. The firm has a market capitalization of $732.66 million, a P/E ratio of 24.34 and a beta of 1.48. The stock’s 50 day moving average is $9.73 and its two-hundred day moving average is $10.27.

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

BlackRock TCP Capital Announces Dividend

The business also recently announced 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 15.89%. The ex-dividend date of this dividend is Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently 388.57%.

Insider Activity

In other news, CEO Rajneesh Vig bought 25,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of $9.09 per share, with a total value of $227,250.00. Following the completion of the purchase, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at $1,190,153.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BlackRock TCP Capital news, CEO Rajneesh Vig purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $9.09 per share, with a total value of $227,250.00. Following the transaction, the chief executive officer now owns 130,930 shares in the company, valued at $1,190,153.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Philip M. Tseng bought 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $9.10 per share, with a total value of $91,000.00. Following the acquisition, the director now owns 27,481 shares of the company’s stock, valued at $250,077.10. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 42,000 shares of company stock worth $381,875. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of large investors have recently bought and sold shares of TCPC. PNC Financial Services Group Inc. increased its position in shares of BlackRock TCP Capital by 3.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock valued at $432,000 after acquiring an additional 1,200 shares in the last quarter. Register Financial Advisors LLC bought a new position in BlackRock TCP Capital in the 1st quarter worth $26,000. Future Financial Wealth Managment LLC bought a new position in BlackRock TCP Capital in the 1st quarter worth approximately $31,000. LSV Asset Management increased its holdings in BlackRock TCP Capital by 1.1% in the 1st quarter. LSV Asset Management now owns 281,447 shares of the investment management company’s stock valued at $2,935,000 after acquiring an additional 3,147 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its holdings in BlackRock TCP Capital by 26.7% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 19,000 shares of the investment management company’s stock valued at $232,000 after buying an additional 4,000 shares in the last quarter.

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.