BlackRock TCP Capital (NASDAQ:TCPC) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research report released on Thursday morning.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company boosted their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, BlackRock TCP Capital currently has an average rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Price Performance

Shares of TCPC traded down $0.02 during midday trading on Thursday, hitting $8.69. The company’s stock had a trading volume of 275,156 shares, compared to its average volume of 499,757. BlackRock TCP Capital has a one year low of $7.71 and a one year high of $12.43. The company’s fifty day simple moving average is $8.44 and its two-hundred day simple moving average is $9.74. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $743.79 million, a price-to-earnings ratio of -17.62 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.28%. The business had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. During the same quarter in the previous year, the business posted $0.49 EPS. As a group, equities analysts expect that BlackRock TCP Capital will post 1.66 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 annualized dividend and a yield of 20.25%. BlackRock TCP Capital’s payout ratio is presently -272.00%.

Insiders Place Their Bets

In related news, Director Philip M. Tseng bought 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $9.07 per share, with a total value of $45,350.00. Following the acquisition, the director now owns 17,481 shares of the company’s stock, valued at $158,552.67. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock TCP Capital news, Director Philip M. Tseng bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the transaction, the director now directly owns 17,481 shares in the company, valued at approximately $158,552.67. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajneesh Vig bought 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the transaction, the chief executive officer now owns 130,930 shares in the company, valued at $1,190,153.70. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 42,000 shares of company stock valued at $381,875. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC boosted its holdings in BlackRock TCP Capital by 22.2% in the third quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock worth $90,000 after acquiring an additional 1,970 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of BlackRock TCP Capital in the third quarter worth approximately $25,000. LSV Asset Management raised its stake in shares of BlackRock TCP Capital by 1.1% in the first quarter. LSV Asset Management now owns 281,447 shares of the investment management company’s stock worth $2,935,000 after purchasing an additional 3,147 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of BlackRock TCP Capital in the second quarter worth approximately $60,000. Finally, Pathway Financial Advisers LLC raised its stake in shares of BlackRock TCP Capital by 729.0% in the third quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after purchasing an additional 6,379 shares during the last quarter.

About BlackRock TCP Capital

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.