BlackRock TCP Capital (NASDAQ:TCPC) Sets New 52-Week Low at $8.26

BlackRock TCP Capital Corp. (NASDAQ:TCPC)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.26 and last traded at $8.27, with a volume of 206488 shares trading hands. The stock had previously closed at $8.32.

Analysts Set New Price Targets

Several research firms have recently weighed in on TCPC. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. StockNews.com lowered BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Wells Fargo & Company lowered BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $8.50 to $8.00 in a report on Monday, August 26th. Finally, Keefe, Bruyette & Woods cut their price objective 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. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Stock Performance

The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47. The firm has a fifty day moving average price of $9.48 and a two-hundred day moving average price of $10.19. The stock has a market capitalization of $700.13 million, a PE ratio of 23.86 and a beta of 1.48.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its 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. The business had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.39 million. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. During the same quarter last year, the firm earned $0.48 EPS. Research analysts expect that BlackRock TCP Capital Corp. will post 1.68 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, September 16th. This represents a $1.36 annualized dividend and a dividend yield of 16.63%. BlackRock TCP Capital’s dividend payout ratio is presently 388.57%.

Insider Activity

In other BlackRock TCP Capital news, Director Philip M. Tseng acquired 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the acquisition, the director now owns 17,481 shares in the company, valued at approximately $158,552.67. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Philip M. Tseng bought 5,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the purchase, the director now directly owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajneesh Vig bought 25,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average price of $9.09 per share, with a total value of $227,250.00. Following the purchase, the chief executive officer now directly owns 130,930 shares in the company, valued at $1,190,153.70. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 42,000 shares of company stock worth $381,875. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On BlackRock TCP Capital

Institutional investors have recently modified their holdings of the stock. Register Financial Advisors LLC purchased a new position in shares of BlackRock TCP Capital during the 1st quarter valued at about $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of BlackRock TCP Capital during the 1st quarter valued at about $31,000. International Assets Investment Management LLC acquired a new stake in shares of BlackRock TCP Capital during the 2nd quarter valued at about $60,000. Cape Investment Advisory Inc. acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at about $74,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at about $74,000.

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.