Blackrock Tcp Capital Sees Unusually High Options Volume (NASDAQ:TCPC)

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) saw unusually large options trading on Monday. Investors bought 6,269 put options on the stock. This represents an increase of 4,510% compared to the average daily volume of 136 put options.

Insider Activity at Blackrock Tcp Capital

In other news, COO Patrick Wolfe acquired 6,850 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $3.65 per share, for a total transaction of $25,002.50. Following the acquisition, the chief operating officer directly owned 16,086 shares in the company, valued at $58,713.90. This trade represents a 74.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blackrock Tcp Capital

Institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp grew its position in shares of Blackrock Tcp Capital by 5,349.6% during the first quarter. Jones Financial Companies Lllp now owns 93,461 shares of the investment management company’s stock worth $749,000 after buying an additional 91,746 shares in the last quarter. Creative Planning acquired a new stake in Blackrock Tcp Capital in the second quarter valued at $85,000. Nomura Asset Management Co. Ltd. bought a new position in Blackrock Tcp Capital during the 2nd quarter valued at $30,000. Dynamic Technology Lab Private Ltd boosted its stake in Blackrock Tcp Capital by 359.1% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 48,440 shares of the investment management company’s stock valued at $373,000 after acquiring an additional 37,890 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Blackrock Tcp Capital by 11.7% during the 2nd quarter. CreativeOne Wealth LLC now owns 96,565 shares of the investment management company’s stock worth $744,000 after acquiring an additional 10,104 shares in the last quarter.

Blackrock Tcp Capital Stock Performance

Shares of TCPC stock opened at $3.70 on Tuesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 17.66 and a quick ratio of 17.66. The company’s fifty day moving average price is $4.67 and its two-hundred day moving average price is $5.48. The firm has a market capitalization of $312.02 million, a P/E ratio of -3.52 and a beta of 0.91. Blackrock Tcp Capital has a 12 month low of $3.46 and a 12 month high of $8.11.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its earnings results on Friday, February 27th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). Blackrock Tcp Capital had a negative net margin of 44.07% and a positive return on equity of 15.06%. The business had revenue of $27.13 million for the quarter, compared to analyst estimates of $46.99 million. On average, research analysts anticipate that Blackrock Tcp Capital will post 1.65 earnings per share for the current fiscal year.

Blackrock Tcp Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 18.4%. The ex-dividend date is Tuesday, March 17th. Blackrock Tcp Capital’s dividend payout ratio (DPR) is -64.76%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Blackrock Tcp Capital from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $3.50 price target (down from $7.00) on shares of Blackrock Tcp Capital in a research report on Tuesday, March 3rd. Zacks Research downgraded shares of Blackrock Tcp Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Wells Fargo & Company dropped their price objective on shares of Blackrock Tcp Capital from $5.50 to $3.50 and set an “underweight” rating for the company in a research report on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and an average target price of $3.50.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.