BlackRock TCP Capital (NASDAQ:TCPC) Sets New 52-Week Low – Should You Sell?

BlackRock TCP Capital Corp. (NASDAQ:TCPC)’s stock price hit a new 52-week low on Thursday . The company traded as low as $8.01 and last traded at $8.02, with a volume of 506056 shares. The stock had previously closed at $8.16.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods decreased their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company decreased their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.83.

BlackRock TCP Capital Trading Down 1.7 %

The firm has a market capitalization of $686.44 million, a price-to-earnings ratio of -15.28 and a beta of 1.47. 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 is $8.55 and its 200 day moving average is $9.82.

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 for the quarter, hitting 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 business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.39 million. During the same period last year, the company posted $0.48 EPS. Equities analysts forecast that BlackRock TCP Capital Corp. will post 1.66 earnings per share for the current year.

BlackRock TCP Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 16.96%. The ex-dividend date of this dividend was Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio is presently -256.60%.

Insiders Place Their Bets

In other news, Director Philip M. Tseng purchased 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired 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 directly owns 17,481 shares of the company’s stock, valued at $158,552.67. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Philip M. Tseng acquired 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the transaction, the director now owns 17,481 shares in the company, valued at approximately $158,552.67. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the transaction, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at $1,190,153.70. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 42,000 shares of company stock worth $381,875 over the last ninety days. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of BlackRock TCP Capital

Institutional investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new stake in BlackRock TCP Capital in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in shares of BlackRock TCP Capital during the 2nd quarter worth about $60,000. Pathway Financial Advisers LLC lifted its holdings in BlackRock TCP Capital by 729.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after purchasing an additional 6,379 shares during the last quarter. Accel Wealth Management bought a new position in shares of BlackRock TCP Capital in the second quarter valued at approximately $108,000. Finally, Disciplined Investments LLC acquired a new position in BlackRock TCP Capital in the 2nd quarter valued at $108,000.

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.