BlackRock TCP Capital (NASDAQ:TCPC) Cut to Sell at StockNews.com

StockNews.com cut shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a research report released on Friday.

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods cut their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.67.

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC opened at $7.08 on Friday. The firm has a market capitalization of $602.35 million, a PE ratio of -14.16 and a beta of 1.21. 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 company has a 50-day moving average price of $8.56 and a two-hundred day moving average price of $8.62. BlackRock TCP Capital has a twelve month low of $7.07 and a twelve month high of $11.52.

BlackRock TCP Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 14.12%. The ex-dividend date was Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Philip M. Tseng purchased 10,000 shares of the stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $7.74 per share, with a total value of $77,400.00. Following the acquisition, the chief executive officer now directly owns 38,587 shares in the company, valued at approximately $298,663.38. The trade was a 34.98 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Wolfe purchased 6,100 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $8.12 per share, with a total value of $49,532.00. Following the transaction, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. The trade was a 320.55 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 18,500 shares of company stock valued at $146,444 in the last three months. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp grew its stake in BlackRock TCP Capital by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock worth $19,186,000 after buying an additional 95,603 shares in the last quarter. Transcend Capital Advisors LLC grew its position in BlackRock TCP Capital by 17.2% in the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company’s stock worth $12,477,000 after acquiring an additional 209,898 shares in the last quarter. TrueMark Investments LLC bought a new position in BlackRock TCP Capital in the fourth quarter valued at $5,268,000. Envestnet Asset Management Inc. raised its position in BlackRock TCP Capital by 623.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock valued at $4,867,000 after purchasing an additional 481,581 shares in the last quarter. Finally, Barings LLC raised its position in BlackRock TCP Capital by 5.0% during the fourth quarter. Barings LLC now owns 480,322 shares of the investment management company’s stock valued at $4,184,000 after purchasing an additional 22,675 shares in the last quarter.

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.