Insider Buying: BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Acquires 10,000 Shares of Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Philip M. Tseng acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average price of $7.74 per share, with a total value of $77,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 38,587 shares of the company’s stock, valued at $298,663.38. This represents a 34.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

BlackRock TCP Capital Stock Performance

Shares of TCPC traded up $0.01 during trading hours on Friday, reaching $7.73. 596,093 shares of the company traded hands, compared to its average volume of 557,668. The stock’s fifty day moving average is $8.79 and its 200 day moving average is $8.71. The stock has a market cap of $657.65 million, a P/E ratio of -15.46 and a beta of 1.55. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. BlackRock TCP Capital Corp. has a 1-year low of $7.67 and a 1-year high of $11.52.

BlackRock TCP Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.94%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is currently -133.33%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TCPC. Dynamic Technology Lab Private Ltd raised its position in shares of BlackRock TCP Capital by 91.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 29,877 shares of the investment management company’s stock valued at $248,000 after buying an additional 14,245 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of BlackRock TCP Capital by 3.7% during the third quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company’s stock valued at $4,024,000 after buying an additional 17,218 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of BlackRock TCP Capital during the third quarter valued at about $79,000. CreativeOne Wealth LLC raised its position in shares of BlackRock TCP Capital by 13.8% during the third quarter. CreativeOne Wealth LLC now owns 67,794 shares of the investment management company’s stock valued at $562,000 after buying an additional 8,238 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of BlackRock TCP Capital during the third quarter valued at about $608,000.

Wall Street Analysts Forecast Growth

TCPC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, February 28th. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.67.

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.