BlackRock TCP Capital (NASDAQ:TCPC) Reaches New 1-Year Low – Should You Sell?

BlackRock TCP Capital Corp. (NASDAQ:TCPC) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.02 and last traded at $8.06, with a volume of 84278 shares. The stock had previously closed at $8.07.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut 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 report on Thursday, August 8th. StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. LADENBURG THALM/SH SH downgraded shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company downgraded shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $8.50 to $8.00 in a report 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Price Performance

The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47. The company’s fifty day moving average is $8.81 and its two-hundred day moving average is $10.01.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. The company had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.39 million. During the same quarter last year, the company posted $0.48 EPS. On average, sell-side analysts expect that BlackRock TCP Capital Corp. will post 1.66 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.34 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.36 annualized dividend and a yield of 16.55%. BlackRock TCP Capital’s dividend payout ratio is presently -256.60%.

Insider Buying and Selling at BlackRock TCP Capital

In other news, CEO Rajneesh Vig acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of $9.09 per share, with a total value of $227,250.00. Following the transaction, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Philip M. Tseng acquired 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $9.07 per share, with a total value of $45,350.00. Following the transaction, the director now owns 17,481 shares in the company, valued at approximately $158,552.67. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rajneesh Vig acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were purchased at an average cost of $9.09 per share, with a total value of $227,250.00. Following the completion of the transaction, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 42,000 shares of company stock valued at $381,875 in the last 90 days. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new stake in BlackRock TCP Capital in the third quarter valued at $25,000. Sanctuary Advisors LLC purchased a new stake in BlackRock TCP Capital in the second quarter valued at $119,000. Insigneo Advisory Services LLC purchased a new stake in BlackRock TCP Capital in the second quarter valued at $122,000. Disciplined Investments LLC purchased a new stake in BlackRock TCP Capital in the second quarter valued at $108,000. Finally, Barings LLC increased its stake in BlackRock TCP Capital by 3,878.9% in 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 during the period.

BlackRock TCP Capital Company 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.