Insider Buying: BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Purchases 6,100 Shares of Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Patrick Wolfe bought 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 transaction, the chief operating officer now owns 8,003 shares of the company’s stock, valued at $64,984.36. This represents a 320.55 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

BlackRock TCP Capital Stock Performance

NASDAQ TCPC opened at $7.74 on Thursday. BlackRock TCP Capital Corp. has a fifty-two week low of $7.71 and a fifty-two week high of $11.52. The stock has a market cap of $658.50 million, a price-to-earnings ratio of -15.48 and a beta of 1.55. The business has a fifty day moving average of $8.81 and a 200-day moving average of $8.72. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34.

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 paid a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 12.92%. BlackRock TCP Capital’s payout ratio is currently -133.33%.

Wall Street Analyst Weigh In

A number of analysts have commented on TCPC shares. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company decreased their target price on 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. Finally, Keefe, Bruyette & Woods cut their price target on 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. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, BlackRock TCP Capital currently has an average rating of “Hold” and a consensus price target of $8.67.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors have recently added to or reduced their stakes in TCPC. Avior Wealth Management LLC acquired a new position in BlackRock TCP Capital in the fourth quarter valued at $38,000. McIlrath & Eck LLC acquired a new position in BlackRock TCP Capital in the third quarter valued at $46,000. Tower Research Capital LLC TRC increased its stake in BlackRock TCP Capital by 177.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after purchasing an additional 3,508 shares during the last quarter. Transce3nd LLC acquired a new position in BlackRock TCP Capital in the fourth quarter valued at $70,000. Finally, Quantbot Technologies LP acquired a new position in BlackRock TCP Capital in the third quarter valued at $79,000.

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.