Insider Buying: BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Purchases 4,500 Shares of Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Jason Mehring bought 4,500 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were purchased at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the completion of the acquisition, the president now owns 19,914 shares of the company’s stock, valued at $185,200.20. The trade was a 29.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

BlackRock TCP Capital Trading Up 1.6 %

Shares of NASDAQ:TCPC opened at $9.41 on Monday. BlackRock TCP Capital Corp. has a 12-month low of $7.71 and a 12-month high of $12.43. The business has a 50 day moving average of $8.46 and a 200-day moving average of $9.58. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The stock has a market cap of $805.40 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The firm had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, equities research analysts forecast that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, December 17th. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 annualized dividend and a dividend yield of 18.70%. BlackRock TCP Capital’s dividend payout ratio is -271.99%.

Analyst Ratings Changes

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

Institutional Trading of BlackRock TCP Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Barings LLC grew its position in shares of BlackRock TCP Capital by 3,878.9% during the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after purchasing an additional 17,053,151 shares in the last quarter. Transcend Capital Advisors LLC raised its position in shares of BlackRock TCP Capital by 61.5% in the second quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after buying an additional 297,393 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of BlackRock TCP Capital by 17.0% in the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after buying an additional 284,802 shares during the period. Paloma Partners Management Co acquired a new stake in BlackRock TCP Capital during the third quarter worth approximately $608,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in BlackRock TCP Capital by 40.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock worth $2,364,000 after acquiring an additional 63,509 shares during the period.

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.