BlackRock TCP Capital (NASDAQ:TCPC) Shares Gap Down to $8.97

BlackRock TCP Capital Corp. (NASDAQ:TCPC) shares gapped down before the market opened on Monday . The stock had previously closed at $8.97, but opened at $8.70. BlackRock TCP Capital shares last traded at $8.69, with a volume of 197,228 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TCPC shares. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. StockNews.com lowered shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lowered shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $8.50 to $8.00 in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Trading Down 5.1 %

The stock has a market cap of $728.38 million, a price-to-earnings ratio of 25.63 and a beta of 1.48. The business’s fifty day simple moving average is $9.77 and its 200 day simple moving average is $10.28. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. The firm had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.39 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, research analysts predict that BlackRock TCP Capital Corp. will post 1.68 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 15.98%. The ex-dividend date is Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is 388.57%.

Insider Activity

In other news, CEO Rajneesh Vig purchased 25,000 shares of BlackRock TCP Capital stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $9.09 per share, with a total value of $227,250.00. Following the completion of the acquisition, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Rajneesh Vig purchased 25,000 shares of BlackRock TCP Capital stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $9.09 per share, with a total value of $227,250.00. Following the completion of the acquisition, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Philip M. Tseng purchased 10,000 shares of BlackRock TCP Capital stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $9.10 per share, with a total value of $91,000.00. Following the acquisition, the director now owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 42,000 shares of company stock valued at $381,875. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barings LLC raised its stake in shares of BlackRock TCP Capital by 3,878.9% during the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after purchasing an additional 17,053,151 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of BlackRock TCP Capital by 17.0% during the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after purchasing an additional 284,802 shares in the last quarter. Transcend Capital Advisors LLC raised its stake in shares of BlackRock TCP Capital by 61.5% during the second quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after purchasing an additional 297,393 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of BlackRock TCP Capital by 12.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock valued at $5,442,000 after purchasing an additional 54,786 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of BlackRock TCP Capital by 7.6% during the second quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock valued at $5,057,000 after purchasing an additional 33,147 shares in the last quarter.

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.