BI Asset Management Fondsmaeglerselskab A S Buys Shares of 337,477 BlackRock TCP Capital Corp. (NASDAQ:TCPC)

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 337,477 shares of the investment management company's stock, valued at approximately $2,939,000. BI Asset Management Fondsmaeglerselskab A S owned 0.39% of BlackRock TCP Capital at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. TrueMark Investments LLC acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter worth $5,268,000. Envestnet Asset Management Inc. increased its position in BlackRock TCP Capital by 623.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock worth $4,867,000 after acquiring an additional 481,581 shares during the period. Columbus Macro LLC bought a new stake in BlackRock TCP Capital in the 4th quarter valued at about $4,177,000. GraniteShares Advisors LLC acquired a new position in shares of BlackRock TCP Capital during the 4th quarter worth approximately $2,453,000. Finally, Transcend Capital Advisors LLC increased its holdings in shares of BlackRock TCP Capital by 17.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company's stock worth $12,477,000 after purchasing an additional 209,898 shares during the period.

BlackRock TCP Capital Price Performance

Shares of TCPC stock traded up $0.04 during trading hours on Friday, reaching $7.02. The company's stock had a trading volume of 446,334 shares, compared to its average volume of 571,806. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a fifty-two week low of $6.27 and a fifty-two week high of $11.52. The company has a market capitalization of $597.24 million, a price-to-earnings ratio of -14.04 and a beta of 1.21. The firm's 50 day simple moving average is $7.74 and its 200-day simple moving average is $8.44.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.25%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital's payout ratio is -133.33%.

Insider Transactions at BlackRock TCP Capital

In other news, COO Patrick Wolfe acquired 6,100 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $8.12 per share, with a total value of $49,532.00. Following the acquisition, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. The trade was a 320.55 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Philip M. Tseng bought 10,000 shares of the stock in a transaction on Friday, March 21st. The stock was purchased at an average cost of $7.74 per share, with a total value of $77,400.00. Following the acquisition, the chief executive officer now owns 38,587 shares in the company, valued at approximately $298,663.38. This represents a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 18,500 shares of company stock valued at $146,444. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com raised BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th. Wells Fargo & Company reduced their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating on the stock in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods dropped their price target on BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.33.

About BlackRock TCP Capital

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.