BlackRock TCP Capital (NASDAQ:TCPC - Free Report) had its price objective cut by Wells Fargo & Company from $7.50 to $6.50 in a report issued on Monday,Benzinga reports. They currently have an underweight rating on the investment management company's stock.
TCPC has been the subject of a number of other research reports. Keefe, Bruyette & Woods dropped their price objective 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. StockNews.com upgraded shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th.
Get Our Latest Stock Analysis on BlackRock TCP Capital
BlackRock TCP Capital Price Performance
Shares of TCPC remained flat at $6.75 during trading hours on Monday. The stock had a trading volume of 1,243,302 shares, compared to its average volume of 574,304. BlackRock TCP Capital has a 1 year low of $6.27 and a 1 year 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 is $7.48 and its 200 day moving average is $8.40. The firm has a market cap of $574.27 million, a price-to-earnings ratio of -13.50 and a beta of 1.21.
BlackRock TCP Capital Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 14.81%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital's dividend payout ratio (DPR) is currently -133.33%.
Insider Activity
In related news, COO Patrick Wolfe acquired 6,100 shares of the firm's stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the acquisition, the chief operating officer now owns 8,003 shares of the company's stock, valued at $64,984.36. This trade represents a 320.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Philip M. Tseng bought 10,000 shares of the business's stock in a transaction dated Friday, March 21st. The shares were bought at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the purchase, the chief executive officer now directly owns 38,587 shares in the company, valued at approximately $298,663.38. This represents a 34.98 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 18,500 shares of company stock valued at $146,444. Company insiders own 0.21% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Avior Wealth Management LLC bought a new position in BlackRock TCP Capital in the fourth quarter worth $38,000. Tower Research Capital LLC TRC grew its position in shares of BlackRock TCP Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company's stock worth $48,000 after buying an additional 3,508 shares during the period. McIlrath & Eck LLC bought a new position in shares of BlackRock TCP Capital in the 3rd quarter worth about $46,000. Transce3nd LLC purchased a new position in BlackRock TCP Capital during the 4th quarter valued at about $70,000. Finally, VSM Wealth Advisory LLC bought a new stake in BlackRock TCP Capital during the fourth quarter worth about $84,000.
About BlackRock TCP Capital
(
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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.
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