Virtu Financial LLC Buys Shares of 37,775 BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Virtu Financial LLC purchased a new position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 37,775 shares of the investment management company’s stock, valued at approximately $329,000.

Other hedge funds have also made changes to their positions in the company. Columbus Macro LLC bought a new stake in BlackRock TCP Capital during the fourth quarter worth approximately $4,177,000. GraniteShares Advisors LLC acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter worth $2,453,000. Transcend Capital Advisors LLC boosted its holdings in shares of BlackRock TCP Capital by 17.2% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company’s stock worth $12,477,000 after buying an additional 209,898 shares during the period. Raymond James Financial Inc. acquired a new position in BlackRock TCP Capital in the 4th quarter valued at $886,000. Finally, Van ECK Associates Corp raised its holdings in BlackRock TCP Capital by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock worth $19,186,000 after acquiring an additional 95,603 shares during the period.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, COO Patrick Wolfe purchased 6,100 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip M. Tseng acquired 10,000 shares of the company’s stock in a transaction dated 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 purchase, the chief executive officer now owns 38,587 shares in the company, valued at approximately $298,663.38. This represents a 34.98 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 18,500 shares of company stock valued at $146,444 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Stock Performance

NASDAQ:TCPC opened at $8.01 on Friday. The firm’s 50-day moving average is $8.71 and its 200-day moving average is $8.67. The company has a market cap of $681.47 million, a price-to-earnings ratio of -16.02 and a beta of 1.55. 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 Corp. has a 52-week low of $7.67 and a 52-week high of $11.52.

BlackRock TCP Capital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 12.48%. BlackRock TCP Capital’s dividend payout ratio is -133.33%.

Wall Street Analysts Forecast Growth

TCPC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, February 28th. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, BlackRock TCP Capital currently has an average rating of “Hold” and an average target price of $8.67.

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.