BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Patrick Wolfe Purchases 6,100 Shares

BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Patrick Wolfe bought 6,100 shares of the stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $8.12 per share, with a total value of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares of the company’s stock, valued at approximately $64,984.36. This represents a 320.55 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

BlackRock TCP Capital Stock Down 4.2 %

Shares of BlackRock TCP Capital stock traded down $0.34 on Monday, hitting $7.74. The company had a trading volume of 996,150 shares, compared to its average volume of 555,695. BlackRock TCP Capital Corp. has a twelve month low of $7.71 and a twelve month high of $11.52. The stock has a 50-day moving average of $8.86 and a 200-day moving average of $8.74. The firm has a market capitalization of $658.50 million, a P/E ratio of -15.48 and a beta of 1.55. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.92%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital’s payout ratio is -133.33%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TCPC. TrueMark Investments LLC acquired a new position in BlackRock TCP Capital during the fourth quarter worth $5,268,000. Envestnet Asset Management Inc. boosted its holdings in BlackRock TCP Capital by 623.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock worth $4,867,000 after purchasing an additional 481,581 shares during the last quarter. Columbus Macro LLC acquired a new position in BlackRock TCP Capital during the fourth quarter worth $4,177,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in BlackRock TCP Capital during the fourth quarter worth $2,939,000. Finally, GraniteShares Advisors LLC bought a new stake in BlackRock TCP Capital during the fourth quarter worth $2,453,000.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods lowered their target price on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday, February 28th. Finally, Wells Fargo & Company lowered their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.67.

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.