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

Wells Fargo & Company MN lessened its holdings in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 41.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 75,394 shares of the investment management company’s stock after selling 52,331 shares during the quarter. Wells Fargo & Company MN’s holdings in BlackRock TCP Capital were worth $657,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in BlackRock TCP Capital during the 4th quarter worth about $886,000. Columbus Macro LLC bought a new position in shares of BlackRock TCP Capital during the fourth quarter worth about $4,177,000. Jane Street Group LLC lifted its stake in shares of BlackRock TCP Capital by 189.3% in the third quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock worth $302,000 after acquiring an additional 23,857 shares during the period. Virtu Financial LLC bought a new stake in BlackRock TCP Capital in the fourth quarter valued at approximately $329,000. Finally, Samalin Investment Counsel LLC increased its position in BlackRock TCP Capital by 68.0% during the 4th quarter. Samalin Investment Counsel LLC now owns 105,823 shares of the investment management company’s stock valued at $922,000 after purchasing an additional 42,827 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TCPC shares. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 12th. Wells Fargo & Company lowered 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 note on Monday. Finally, Keefe, Bruyette & Woods cut their price target on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, BlackRock TCP Capital currently has an average rating of “Hold” and a consensus price target of $8.00.

Insider Buying and Selling

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

BlackRock TCP Capital Trading Down 1.3 %

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

BlackRock TCP Capital Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.81%. BlackRock TCP Capital’s payout ratio is presently -133.33%.

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.