Insider Buying: BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Buys $227,250.00 in Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Rajneesh Vig bought 25,000 shares of the stock in a transaction on Thursday, August 29th. The stock was acquired at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the acquisition, the chief executive officer now directly owns 130,930 shares in the company, valued at $1,190,153.70. The transaction was disclosed in a filing with the SEC, which is available through this link.

BlackRock TCP Capital Price Performance

Shares of TCPC stock opened at $9.19 on Friday. The stock’s fifty day simple moving average is $9.99 and its 200 day simple moving average is $10.38. 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 market cap of $786.57 million, a price-to-earnings ratio of 26.26 and a beta of 1.48. BlackRock TCP Capital Corp. has a one year low of $8.59 and a one year high of $12.59.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $71.53 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.48 EPS. On average, analysts expect that BlackRock TCP Capital Corp. will post 1.68 earnings per share for the current fiscal year.

BlackRock TCP Capital Announces Dividend

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 paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 14.80%. The ex-dividend date of this dividend is Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio is 388.58%.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors have recently bought and sold shares of the business. Barings LLC raised its position in BlackRock TCP Capital by 3,878.9% in the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after purchasing an additional 17,053,151 shares during the last quarter. Van ECK Associates Corp raised its position in BlackRock TCP Capital by 17.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after purchasing an additional 284,802 shares during the last quarter. Transcend Capital Advisors LLC raised its position in BlackRock TCP Capital by 61.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after purchasing an additional 297,393 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in BlackRock TCP Capital by 12.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock valued at $5,442,000 after purchasing an additional 54,786 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in BlackRock TCP Capital by 7.6% in the 2nd quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock valued at $5,057,000 after purchasing an additional 33,147 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

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.