BlackRock TCP Capital Corp. (NASDAQ:TCPC) Position Lessened by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its position in BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 41.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,394 shares of the investment management company's stock after selling 52,331 shares during the quarter. Wells Fargo & Company MN owned about 0.09% of BlackRock TCP Capital worth $657,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC bought a new stake in BlackRock TCP Capital during the 4th quarter worth $38,000. McIlrath & Eck LLC bought a new position in BlackRock TCP Capital during the third quarter valued at about $46,000. VSM Wealth Advisory LLC purchased a new stake in BlackRock TCP Capital in the 4th quarter worth about $84,000. Entropy Technologies LP purchased a new stake in shares of BlackRock TCP Capital during the fourth quarter worth $115,000. Finally, SeaCrest Wealth Management LLC increased its holdings in BlackRock TCP Capital by 18.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company's stock worth $130,000 after acquiring an additional 2,350 shares during the period.

Analysts Set New Price Targets

Several brokerages recently issued reports on TCPC. Keefe, Bruyette & Woods cut their target price on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. StockNews.com raised BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th. Finally, Wells Fargo & Company decreased their target price on BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating for the company in a research report on Monday, April 28th.

BlackRock TCP Capital Stock Down 2.1 %

TCPC stock traded down $0.14 during trading on Monday, reaching $6.61. 780,881 shares of the company traded hands, compared to its average volume of 575,929. The business has a 50 day simple moving average of $7.48 and a 200 day simple moving average of $8.40. BlackRock TCP Capital Corp. has a 12 month low of $6.27 and a 12 month high of $11.52. The company has a market capitalization of $562.36 million, a price-to-earnings ratio of -13.22 and a beta of 1.21. 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 Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 15.13%. The ex-dividend date was Monday, March 17th. BlackRock TCP Capital's dividend payout ratio is currently -133.33%.

Insider Buying and Selling at BlackRock TCP Capital

In other news, COO Patrick Wolfe bought 6,100 shares of the 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 acquisition, the chief operating officer now directly owns 8,003 shares of the company's stock, valued at $64,984.36. The trade was a 320.55 % increase in their position. The purchase 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 shares were purchased at an average price of $7.74 per share, with a total value of $77,400.00. Following the acquisition, the chief executive officer now directly owns 38,587 shares in the company, valued at $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 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.

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.