Zacks Investment Research cut shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “BlackRock TCP Capital Corp. is an externally-managed non-diversified closed-end management investment company. It focused on middle-market lending. BlackRock TCP Capital Corp., formerly known as TCP Capital Corp., is headquartered in Santa Monica, CA. “

Several other research firms have also issued reports on TCPC. ValuEngine raised shares of BlackRock TCP Capital from a sell rating to a hold rating in a research note on Wednesday, December 5th. BidaskClub lowered shares of BlackRock TCP Capital from a hold rating to a sell rating in a research note on Tuesday, March 5th. Finally, National Securities dropped their target price on shares of BlackRock TCP Capital from $19.00 to $18.00 and set a buy rating on the stock in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. BlackRock TCP Capital currently has an average rating of Hold and an average target price of $16.50.

TCPC stock opened at $14.26 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 12.33 and a quick ratio of 12.33. BlackRock TCP Capital has a 1 year low of $12.52 and a 1 year high of $14.98. The firm has a market capitalization of $838.00 million, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 2.93 and a beta of 0.80.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.44 annualized dividend and a yield of 10.10%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 90.57%.

In other news, CFO Paul L. Davis bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 21st. The shares were purchased at an average price of $12.88 per share, for a total transaction of $38,640.00. Following the acquisition, the chief financial officer now directly owns 15,900 shares of the company’s stock, valued at approximately $204,792. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Howard Levkowitz bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 21st. The stock was purchased at an average price of $12.88 per share, for a total transaction of $64,400.00. Following the acquisition, the chief executive officer now directly owns 124,144 shares in the company, valued at $1,598,974.72. The disclosure for this purchase can be found here. Insiders purchased a total of 19,000 shares of company stock worth $245,200 in the last quarter. Insiders own 11.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TCPC. CFO4Life Group LLC bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth about $152,000. Joel Isaacson & Co. LLC bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth about $209,000. Wiley BROS. Aintree Capital LLC bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth about $209,000. Great West Life Assurance Co. Can increased its holdings in shares of BlackRock TCP Capital by 13.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 17,559 shares of the investment management company’s stock worth $221,000 after purchasing an additional 2,066 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth about $240,000. Hedge funds and other institutional investors own 45.16% of the company’s stock.

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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