Blackrock Tcp Capital (NASDAQ:TCPC) Stock Price Breaks Above 200-Day Moving Average – Here’s What Happened

by · The Markets Daily

Blackrock Tcp Capital Corp. (NASDAQ:TCPC – Get Free Report)’s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $3.80 and traded as high as $4.04. Blackrock Tcp Capital shares last traded at $4.01, with a volume of 472,361 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TCPC shares. Wells Fargo & Company raised shares of Blackrock Tcp Capital from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $3.50 to $4.00 in a report on Tuesday, September 29th. Keefe, Bruyette & Woods raised Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $3.50 to $4.00 in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Friday, August 28th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Blackrock Tcp Capital has a consensus rating of “Reduce” and an average price target of $4.00.

Check Out Our Latest Report on Blackrock Tcp Capital

Blackrock Tcp Capital Stock Performance

The stock has a fifty day simple moving average of $4.01 and a two-hundred day simple moving average of $3.80. The stock has a market cap of $336.44 million, a PE ratio of -3.13 and a beta of 0.99. The company has a debt-to-equity ratio of 1.65, a quick ratio of 33.70 and a current ratio of 33.70.

Blackrock Tcp Capital (NASDAQ:TCPC – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. Blackrock Tcp Capital had a negative net margin of 61.27% and a positive return on equity of 13.85%. The firm had revenue of $40.02 million for the quarter, compared to analyst estimates of $38.36 million. Equities analysts anticipate that Blackrock Tcp Capital Corp. will post 0.68 EPS for the current fiscal year.

Blackrock Tcp Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 17.0%. The ex-dividend date was Wednesday, September 16th. Blackrock Tcp Capital’s dividend payout ratio (DPR) is presently -53.12%.

Institutional Trading of Blackrock Tcp Capital

Institutional investors have recently bought and sold shares of the company. Van Hulzen Asset Management LLC acquired a new position in Blackrock Tcp Capital during the second quarter valued at approximately $160,000. HighTower Advisors LLC grew its holdings in shares of Blackrock Tcp Capital by 21.2% in the 2nd quarter. HighTower Advisors LLC now owns 14,114 shares of the investment management company’s stock valued at $47,000 after buying an additional 2,468 shares during the period. IMC Chicago LLC grew its holdings in shares of Blackrock Tcp Capital by 203.7% during the second quarter. IMC Chicago LLC now owns 13,301 shares of the investment management company’s stock worth $45,000 after buying an additional 26,122 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Blackrock Tcp Capital by 26.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,096,604 shares of the investment management company’s stock worth $7,045,000 after purchasing an additional 442,735 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Blackrock Tcp Capital by 230.1% during the second quarter. Bank of America Corp DE now owns 398,785 shares of the investment management company’s stock worth $1,340,000 after purchasing an additional 277,993 shares during the period.

About Blackrock Tcp Capital

(Get Free Report)

BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a business development company that provides financing to established middle-market businesses. The company seeks to generate income and long-term capital appreciation by investing primarily in privately originated loans and other debt investments, with a focus on companies that may have limited access to traditional financing sources.

Its investment portfolio may include senior secured, first-lien and second-lien loans, subordinated debt, mezzanine investments and equity interests.

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