BlackRock TCP Capital (NASDAQ:TCPC) Upgraded at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC – Free Report) from a sell rating to a hold rating in a research note released on Tuesday morning.

Several other equities analysts have also recently issued reports on TCPC. Wells Fargo & Company decreased their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods decreased their target price on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, BlackRock TCP Capital currently has an average rating of “Hold” and a consensus price target of $8.67.

Read Our Latest Stock Analysis on BlackRock TCP Capital

BlackRock TCP Capital Stock Down 0.3 %

BlackRock TCP Capital stock opened at $7.72 on Tuesday. The stock has a market cap of $656.79 million, a price-to-earnings ratio of -15.44 and a beta of 1.55. 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’s 50-day moving average price is $8.79 and its two-hundred day moving average price is $8.71. BlackRock TCP Capital has a 52 week low of $7.67 and a 52 week high of $11.52.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 12.95%. BlackRock TCP Capital’s payout ratio is -133.33%.

Insiders Place Their Bets

In related news, COO Patrick Wolfe bought 6,100 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was 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 $64,984.36. This represents a 320.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Avior Wealth Management LLC bought a new position in shares of BlackRock TCP Capital in the 4th quarter worth $38,000. McIlrath & Eck LLC bought a new position in shares of BlackRock TCP Capital in the 3rd quarter worth $46,000. Tower Research Capital LLC TRC boosted its position in shares of BlackRock TCP Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after purchasing an additional 3,508 shares during the last quarter. Transce3nd LLC bought a new position in shares of BlackRock TCP Capital in the 4th quarter worth $70,000. Finally, Quantbot Technologies LP bought a new position in BlackRock TCP Capital during the third quarter worth about $79,000.

BlackRock TCP Capital Company Profile

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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.

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