BlackRock TCP Capital (NASDAQ:TCPC) Hits New 1-Year Low - Time to Sell?

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $7.35 and last traded at $7.31, with a volume of 242517 shares trading hands. The stock had previously closed at $7.84.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TCPC. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating on the stock in a research report on Tuesday. StockNews.com lowered BlackRock TCP Capital from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. Finally, Wells Fargo & Company cut their price target on 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. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $8.33.

BlackRock TCP Capital Trading Up 8.7 %

The business has a 50 day moving average price of $8.40 and a 200 day moving average price of $8.58. The company has a market capitalization of $598.09 million, a P/E ratio of -14.06 and a beta of 1.21. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 14.22%. BlackRock TCP Capital's dividend payout ratio (DPR) is presently -133.33%.

Insider Activity

In other BlackRock TCP Capital news, COO Patrick Wolfe bought 6,100 shares of BlackRock TCP Capital stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the acquisition, the chief operating officer now owns 8,003 shares in the company, valued at approximately $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 at the SEC website. Also, CEO Philip M. Tseng purchased 10,000 shares of the stock in a transaction 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 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. Insiders bought 18,500 shares of company stock valued at $146,444 in the last quarter. Company insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TCPC. Avior Wealth Management LLC acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter worth $38,000. McIlrath & Eck LLC acquired a new stake in shares of BlackRock TCP Capital in the 3rd quarter valued at about $46,000. Tower Research Capital LLC TRC lifted its holdings in shares of BlackRock TCP Capital by 177.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company's stock valued at $48,000 after purchasing an additional 3,508 shares in the last quarter. Transce3nd LLC acquired a new position in shares of BlackRock TCP Capital during the fourth quarter worth about $70,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of BlackRock TCP Capital during the fourth quarter worth about $84,000.

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.