BlackRock TCP Capital (NASDAQ:TCPC) Reaches New 1-Year Low at $8.43

BlackRock TCP Capital Corp. (NASDAQ:TCPC)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $8.43 and last traded at $8.49, with a volume of 127684 shares. The stock had previously closed at $8.67.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Wells Fargo & Company cut BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $8.50 to $8.00 in a research note on Monday, August 26th. Keefe, Bruyette & Woods cut their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, LADENBURG THALM/SH SH cut shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, BlackRock TCP Capital has a consensus rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Stock Performance

The stock’s 50-day moving average price is $9.68 and its 200 day moving average price is $10.25. The firm has a market cap of $725.80 million, a P/E ratio of 24.23 and a beta of 1.48. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. The firm had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.39 million. During the same period in the previous year, the business earned $0.48 EPS. As a group, equities analysts predict that BlackRock TCP Capital Corp. will post 1.68 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.34 per share. The ex-dividend date is Monday, September 16th. This represents a $1.36 annualized dividend and a yield of 16.04%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 388.58%.

Insider Buying and Selling at BlackRock TCP Capital

In related news, Director Philip M. Tseng acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were bought at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the purchase, the director now directly owns 27,481 shares in the company, valued at approximately $250,077.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Philip M. Tseng bought 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $9.10 per share, with a total value of $91,000.00. Following the acquisition, the director now owns 27,481 shares in the company, valued at $250,077.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip M. Tseng bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $9.07 per share, with a total value of $45,350.00. Following the completion of the purchase, the director now directly owns 17,481 shares in the company, valued at approximately $158,552.67. The disclosure for this purchase can be found here. Insiders purchased a total of 42,000 shares of company stock worth $381,875 over the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Jump Financial LLC bought a new position in BlackRock TCP Capital during the fourth quarter worth $198,000. PNC Financial Services Group Inc. grew its stake in BlackRock TCP Capital by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock valued at $432,000 after buying an additional 1,200 shares during the last quarter. D.A. Davidson & CO. raised its holdings in BlackRock TCP Capital by 10.3% in the 4th quarter. D.A. Davidson & CO. now owns 382,617 shares of the investment management company’s stock valued at $4,415,000 after acquiring an additional 35,753 shares during the period. CreativeOne Wealth LLC acquired a new stake in BlackRock TCP Capital during the fourth quarter worth approximately $118,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of BlackRock TCP Capital during the fourth quarter worth approximately $74,000.

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.