BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives $9.00 Consensus PT from Analysts

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has been given a consensus recommendation of “Reduce” by the six analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $9.00.

A number of research analysts have recently commented on TCPC shares. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company lowered shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $8.50 to $8.00 in a research note on Monday, August 26th. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th.

BlackRock TCP Capital Trading Up 0.7 %

NASDAQ TCPC opened at $9.12 on Monday. BlackRock TCP Capital has a 52 week low of $8.59 and a 52 week high of $12.59. The firm has a 50 day moving average of $10.03 and a two-hundred day moving average of $10.39. 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 $780.58 million, a PE ratio of 26.06 and a beta of 1.48.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. The firm had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.39 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. As a group, research analysts expect that BlackRock TCP Capital will post 1.68 EPS for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 14.91%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 388.58%.

Insider Activity

In other BlackRock TCP Capital news, CEO Rajneesh Vig purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the purchase, the chief executive officer now directly owns 130,930 shares in the company, valued at $1,190,153.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 27,000 shares of company stock valued at $245,525 in the last ninety days. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of BlackRock TCP Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barings LLC increased its holdings in shares of BlackRock TCP Capital by 3,878.9% in the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after purchasing an additional 17,053,151 shares during the period. Van ECK Associates Corp increased its stake in BlackRock TCP Capital by 17.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after buying an additional 284,802 shares during the period. Transcend Capital Advisors LLC raised its position in BlackRock TCP Capital by 61.5% during the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock worth $8,434,000 after buying an additional 297,393 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in BlackRock TCP Capital by 12.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock worth $5,442,000 after buying an additional 54,786 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of BlackRock TCP Capital by 7.6% in the 2nd quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock worth $5,057,000 after acquiring an additional 33,147 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.