BlackRock TCP Capital (NASDAQ:TCPC) Hits New 52-Week Low – Should You Sell?

BlackRock TCP Capital Corp. (NASDAQ:TCPC) shares hit a new 52-week low during trading on Friday . The stock traded as low as $7.35 and last traded at $7.31, with a volume of 242517 shares. The stock had previously closed at $7.84.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TCPC shares. Keefe, Bruyette & Woods reduced their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company reduced their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, February 28th. Finally, StockNews.com lowered BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Friday. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.67.

BlackRock TCP Capital Stock Performance

The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The stock has a market capitalization of $602.35 million, a P/E ratio of -14.16 and a beta of 1.21. The business has a 50-day moving average price of $8.56 and a 200 day moving average price of $8.62.

BlackRock TCP Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.25 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.12%. BlackRock TCP Capital’s dividend payout ratio is currently -133.33%.

Insider Activity

In other BlackRock TCP Capital news, CEO Philip M. Tseng bought 10,000 shares of the business’s stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of $7.74 per share, for a total transaction 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 trade represents a 34.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Wolfe purchased 6,100 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was acquired at an average price 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. The trade was a 320.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 18,500 shares of company stock worth $146,444 over the last three months. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

Large investors have recently bought and sold shares of the business. Columbus Macro LLC purchased a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at about $4,177,000. Jane Street Group LLC boosted its holdings in BlackRock TCP Capital by 189.3% in the third quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock worth $302,000 after purchasing an additional 23,857 shares during the last quarter. Virtu Financial LLC bought a new stake in BlackRock TCP Capital in the 4th quarter worth approximately $329,000. Samalin Investment Counsel LLC grew its position in BlackRock TCP Capital by 68.0% in the 4th quarter. Samalin Investment Counsel LLC now owns 105,823 shares of the investment management company’s stock worth $922,000 after purchasing an additional 42,827 shares during the period. Finally, GraniteShares Advisors LLC purchased a new stake in BlackRock TCP Capital during the 4th quarter valued at $2,453,000.

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.