TrueMark Investments LLC Invests $5.27 Million in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

TrueMark Investments LLC purchased a new position in BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 604,833 shares of the investment management company’s stock, valued at approximately $5,268,000. BlackRock TCP Capital comprises 1.7% of TrueMark Investments LLC’s investment portfolio, making the stock its 14th largest position. TrueMark Investments LLC owned 0.71% of BlackRock TCP Capital at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Samalin Investment Counsel LLC grew its position in BlackRock TCP Capital by 68.0% in the 4th quarter. Samalin Investment Counsel LLC now owns 105,823 shares of the investment management company’s stock worth $922,000 after purchasing an additional 42,827 shares during the last quarter. Virtu Financial LLC bought a new position in BlackRock TCP Capital in the 4th quarter worth approximately $329,000. VSM Wealth Advisory LLC acquired a new stake in BlackRock TCP Capital in the 4th quarter valued at approximately $84,000. Corient Private Wealth LLC bought a new stake in BlackRock TCP Capital during the 4th quarter valued at $149,000. Finally, Commonwealth Equity Services LLC boosted its position in BlackRock TCP Capital by 17.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 67,243 shares of the investment management company’s stock worth $586,000 after acquiring an additional 9,788 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday, February 28th. Finally, StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.67.

BlackRock TCP Capital Price Performance

Shares of BlackRock TCP Capital stock opened at $7.92 on Wednesday. BlackRock TCP Capital Corp. has a 52 week low of $7.67 and a 52 week high of $11.52. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average price is $8.74 and its two-hundred day moving average price is $8.68. The stock has a market cap of $673.81 million, a PE ratio of -15.84 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.63%. The ex-dividend date is Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is presently -133.33%.

Insider Buying and Selling

In related news, CEO Philip M. Tseng bought 10,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost 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 in the company, valued at approximately $298,663.38. This trade represents a 34.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick Wolfe purchased 6,100 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. This represents a 320.55 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 18,500 shares of company stock worth $146,444. Corporate insiders own 0.16% of the company’s stock.

BlackRock TCP Capital 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.