BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) President Jason Mehring acquired 2,400 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $8.13 per share, for a total transaction of $19,512.00. Following the completion of the transaction, the president now directly owns 22,442 shares of the company's stock, valued at approximately $182,453.46. This trade represents a 11.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
BlackRock TCP Capital Stock Performance
NASDAQ TCPC opened at $7.96 on Friday. The firm has a 50-day moving average price of $8.89 and a two-hundred day moving average price of $8.76. BlackRock TCP Capital Corp. has a 12-month low of $7.71 and a 12-month high of $11.52. The company has a market capitalization of $677.21 million, a P/E ratio of -15.92 and a beta of 1.55. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 12.56%. BlackRock TCP Capital's dividend payout ratio (DPR) is presently -133.33%.
Analysts Set New Price Targets
Several research firms have weighed in on TCPC. StockNews.com cut shares of BlackRock TCP Capital from a "hold" rating to a "sell" rating in a report on Tuesday, March 4th. 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 research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods reduced their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. Based on data from MarketBeat.com, BlackRock TCP Capital presently has a consensus rating of "Hold" and an average target price of $8.67.
Read Our Latest Stock Report on BlackRock TCP Capital
Institutional Trading of BlackRock TCP Capital
Institutional investors have recently modified their holdings of the stock. CF Capital LLC acquired a new position in BlackRock TCP Capital in the fourth quarter valued at about $243,000. Balyasny Asset Management L.P. acquired a new position in shares of BlackRock TCP Capital in the 4th quarter valued at approximately $177,000. Jane Street Group LLC raised its position in shares of BlackRock TCP Capital by 291.5% in the 4th quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company's stock valued at $1,243,000 after buying an additional 106,257 shares in the last quarter. Talon Private Wealth LLC bought a new stake in shares of BlackRock TCP Capital during the 4th quarter worth approximately $276,000. Finally, Aquatic Capital Management LLC boosted its position in shares of BlackRock TCP Capital by 146.4% during the 4th quarter. Aquatic Capital Management LLC now owns 34,000 shares of the investment management company's stock worth $296,000 after acquiring an additional 20,200 shares in the last quarter.
BlackRock TCP Capital Company Profile
(
Get Free Report)
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.
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