BlackRock TCP Capital Corp (TCPC) CFO Paul L. Davis Acquires 2,000 Shares

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BlackRock TCP Capital Corp (NASDAQ:TCPC) CFO Paul L. Davis purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The stock was bought at an average cost of $14.24 per share, with a total value of $28,480.00. Following the purchase, the chief financial officer now owns 15,000 shares of the company’s stock, valued at $213,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

BlackRock TCP Capital stock traded up $0.11 during midday trading on Friday, reaching $14.25. The company’s stock had a trading volume of 390,436 shares, compared to its average volume of 332,585. BlackRock TCP Capital Corp has a 52 week low of $13.71 and a 52 week high of $15.90. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.90. The stock has a market cap of $831.28 million, a PE ratio of 7.16, a P/E/G ratio of 1.77 and a beta of 0.70.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Thursday, November 8th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. BlackRock TCP Capital had a return on equity of 11.56% and a net margin of 31.79%. The firm had revenue of $49.48 million for the quarter, compared to analysts’ expectations of $48.06 million. As a group, analysts expect that BlackRock TCP Capital Corp will post 1.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 10.11%. The ex-dividend date is Friday, December 14th. BlackRock TCP Capital’s dividend payout ratio is presently 72.36%.

A number of institutional investors have recently added to or reduced their stakes in TCPC. First Republic Investment Management Inc. bought a new position in BlackRock TCP Capital in the second quarter valued at about $145,000. Stock Yards Bank & Trust Co. bought a new position in BlackRock TCP Capital in the third quarter valued at about $170,000. Financial Counselors Inc. bought a new position in BlackRock TCP Capital in the second quarter valued at about $201,000. Mirae Asset Global Investments Co. Ltd. bought a new position in BlackRock TCP Capital in the third quarter valued at about $264,000. Finally, Caxton Associates LP bought a new position in BlackRock TCP Capital in the third quarter valued at about $265,000. Hedge funds and other institutional investors own 45.58% of the company’s stock.

TCPC has been the subject of a number of analyst reports. Wells Fargo & Co dropped their price target on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, October 4th. BidaskClub raised BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a research note on Friday, October 12th. JMP Securities dropped their price target on BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a research note on Tuesday, August 28th. National Securities reaffirmed a “buy” rating and issued a $19.00 price target on shares of BlackRock TCP Capital in a research note on Monday, August 13th. Finally, Zacks Investment Research raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. BlackRock TCP Capital presently has an average rating of “Hold” and a consensus target price of $16.90.

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About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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