BlackRock TCP Capital (NASDAQ:TCPC) Upgraded at StockNews.com

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a report issued on Saturday morning.

TCPC has been the subject of several other research reports. Keefe, Bruyette & Woods cut their price objective on BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus price target of $8.33.

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC opened at $6.55 on Friday. The stock has a market cap of $557.25 million, a price-to-earnings ratio of -13.10 and a beta of 1.21. 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 has a 12 month low of $6.27 and a 12 month high of $11.52. The stock’s 50 day moving average price is $8.17 and its 200 day moving average price is $8.53.

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 15.27%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is -133.33%.

Insider Buying and Selling

In other news, COO Patrick Wolfe acquired 6,100 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the transaction, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. This trade represents a 320.55 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip M. Tseng bought 10,000 shares of BlackRock TCP Capital 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 acquisition, the chief executive officer now directly owns 38,587 shares of the company’s stock, valued at approximately $298,663.38. This represents a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 18,500 shares of company stock valued at $146,444. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors and hedge funds have recently bought and sold shares of TCPC. Avior Wealth Management LLC acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter worth approximately $38,000. McIlrath & Eck LLC acquired a new stake in shares of BlackRock TCP Capital during the 3rd quarter valued at $46,000. Tower Research Capital LLC TRC grew its holdings in shares of BlackRock TCP Capital by 177.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after acquiring an additional 3,508 shares in the last quarter. Transce3nd LLC acquired a new position in shares of BlackRock TCP Capital in the fourth quarter worth $70,000. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of BlackRock TCP Capital during the fourth quarter worth $84,000.

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.