BlackRock TCP Capital (NASDAQ:TCPC) Downgraded by StockNews.com to Sell

BlackRock TCP Capital (NASDAQ:TCPC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Several other equities analysts have also issued reports on the stock. Oppenheimer cut their price target on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Keefe, Bruyette & Woods dropped their target price on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.67.

BlackRock TCP Capital Trading Up 1.0 %

Shares of NASDAQ TCPC opened at $10.96 on Wednesday. The business has a fifty day moving average price of $10.77 and a 200 day moving average price of $10.88. BlackRock TCP Capital has a 1-year low of $9.90 and a 1-year high of $13.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 19.05 and a quick ratio of 19.05. The stock has a market capitalization of $938.07 million, a P/E ratio of 31.32 and a beta of 1.49.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. The business had revenue of $55.73 million during the quarter, compared to analyst estimates of $50.99 million. During the same period in the prior year, the firm posted $0.44 earnings per share. Equities research analysts expect that BlackRock TCP Capital will post 1.71 EPS for the current fiscal year.

Institutional Trading of BlackRock TCP Capital

Large investors have recently added to or reduced their stakes in the company. Transcend Capital Advisors LLC lifted its holdings in shares of BlackRock TCP Capital by 61.5% during the second quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock worth $8,434,000 after purchasing an additional 297,393 shares during the period. Cetera Advisors LLC acquired a new stake in BlackRock TCP Capital during the 1st quarter valued at approximately $185,000. Caxton Associates LP boosted its holdings in shares of BlackRock TCP Capital by 51.6% in the 1st quarter. Caxton Associates LP now owns 46,720 shares of the investment management company’s stock valued at $487,000 after acquiring an additional 15,911 shares during the last quarter. Paloma Partners Management Co purchased a new stake in BlackRock TCP Capital in the first quarter valued at $357,000. Finally, Advisors Asset Management Inc. grew its holdings in BlackRock TCP Capital by 5.9% during the first quarter. Advisors Asset Management Inc. now owns 215,206 shares of the investment management company’s stock worth $2,245,000 after acquiring an additional 11,987 shares during the period.

BlackRock TCP Capital Company 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.