Wells Fargo & Company MN Sells 52,331 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Wells Fargo & Company MN trimmed its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 41.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,394 shares of the investment management company’s stock after selling 52,331 shares during the period. Wells Fargo & Company MN owned 0.09% of BlackRock TCP Capital worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Avior Wealth Management LLC acquired a new position in BlackRock TCP Capital in the 4th quarter valued at $38,000. McIlrath & Eck LLC bought a new position in shares of BlackRock TCP Capital in the third quarter worth $46,000. VSM Wealth Advisory LLC acquired a new position in BlackRock TCP Capital in the fourth quarter valued at about $84,000. Entropy Technologies LP acquired a new position in BlackRock TCP Capital in the fourth quarter valued at about $115,000. Finally, SeaCrest Wealth Management LLC lifted its position in BlackRock TCP Capital by 18.8% during the fourth quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company’s stock worth $130,000 after purchasing an additional 2,350 shares during the period.

Analyst Ratings Changes

Several brokerages have recently commented on TCPC. Wells Fargo & Company dropped their target price on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an “underweight” rating for the company in a research report on Monday. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 12th. Finally, Keefe, Bruyette & Woods cut their target price on BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus target price of $8.00.

BlackRock TCP Capital Stock Down 1.3 %

Shares of NASDAQ TCPC opened at $6.75 on Friday. The stock has a 50-day moving average price of $7.54 and a two-hundred day moving average price of $8.41. BlackRock TCP Capital Corp. has a 12 month low of $6.27 and a 12 month high of $11.52. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The company has a market cap of $574.27 million, a price-to-earnings ratio of -13.50 and a beta of 1.21.

BlackRock TCP Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 14.81%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is -133.33%.

Insider Activity at BlackRock TCP Capital

In other news, COO Patrick Wolfe acquired 6,100 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the transaction, the chief operating officer now directly owns 8,003 shares of the company’s stock, valued at approximately $64,984.36. The trade was a 320.55 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Philip M. Tseng bought 10,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was purchased at an average price of $7.74 per share, with a total value of $77,400.00. Following the completion of the transaction, the chief executive officer now directly owns 38,587 shares of the company’s stock, valued at approximately $298,663.38. The trade was a 34.98 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 18,500 shares of company stock valued at $146,444 in the last quarter. Insiders own 0.21% of the company’s stock.

BlackRock TCP Capital 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.