Jason Mehring Purchases 4,500 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Jason Mehring purchased 4,500 shares of BlackRock TCP Capital stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $9.30 per share, with a total value of $41,850.00. Following the acquisition, the president now owns 19,914 shares of the company’s stock, valued at approximately $185,200.20. This trade represents a 29.19 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

BlackRock TCP Capital Trading Up 1.6 %

BlackRock TCP Capital stock traded up $0.15 during mid-day trading on Friday, hitting $9.41. The stock had a trading volume of 432,942 shares, compared to its average volume of 502,590. BlackRock TCP Capital Corp. has a 12 month low of $7.71 and a 12 month high of $12.43. The stock has a 50-day simple moving average of $8.44 and a two-hundred day simple moving average of $9.60. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $805.41 million, a PE ratio of -18.82 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $70.93 million for the quarter, compared to analyst estimates of $69.13 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. During the same period in the prior year, the business earned $0.49 EPS. As a group, sell-side analysts forecast that BlackRock TCP Capital Corp. will post 1.65 EPS for the current year.

BlackRock TCP Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 dividend on an annualized basis and a dividend yield of 18.70%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -272.00%.

Wall Street Analysts Forecast Growth

TCPC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company boosted their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Barings LLC grew 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 in the last quarter. Cetera Advisors LLC bought a new position in BlackRock TCP Capital in the first quarter valued at approximately $185,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in BlackRock TCP Capital by 40.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock valued at $2,364,000 after purchasing an additional 63,509 shares in the last quarter. Van ECK Associates Corp grew its stake in BlackRock TCP Capital by 7.3% in the third quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock valued at $17,257,000 after purchasing an additional 143,667 shares in the last quarter. Finally, Raymond James & Associates grew its stake in BlackRock TCP Capital by 6.9% in the second quarter. Raymond James & Associates now owns 322,962 shares of the investment management company’s stock valued at $3,488,000 after purchasing an additional 20,888 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.