BlackRock TCP Capital Corp. (NASDAQ:TCPC) Given Average Recommendation of “Reduce” by Analysts

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has earned a consensus rating of “Reduce” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $9.00.

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

BlackRock TCP Capital Trading Down 0.4 %

BlackRock TCP Capital stock opened at $8.08 on Friday. BlackRock TCP Capital has a 12-month low of $8.03 and a 12-month high of $12.43. The firm has a market capitalization of $691.57 million, a price-to-earnings ratio of 23.09 and a beta of 1.48. The firm has a 50 day moving average of $9.31 and a 200 day moving average of $10.15. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $70.39 million. During the same period last year, the firm earned $0.48 EPS. As a group, research analysts predict that BlackRock TCP Capital will post 1.66 earnings per share for the current year.

BlackRock TCP Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 16.83%. The ex-dividend date is Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 388.58%.

Insiders Place Their Bets

In other BlackRock TCP Capital news, CEO Rajneesh Vig purchased 25,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average price of $9.09 per share, with a total value of $227,250.00. Following the acquisition, the chief executive officer now owns 130,930 shares in the company, valued at $1,190,153.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Philip M. Tseng acquired 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were acquired at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the transaction, the director now directly owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rajneesh Vig bought 25,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was purchased at an average price of $9.09 per share, with a total value of $227,250.00. Following the acquisition, the chief executive officer now directly owns 130,930 shares in the company, valued at approximately $1,190,153.70. The disclosure for this purchase can be found here. Insiders acquired 42,000 shares of company stock valued at $381,875 in the last three months. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On BlackRock TCP Capital

Several hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of BlackRock TCP Capital during the second quarter valued at approximately $119,000. Insigneo Advisory Services LLC bought a new position in BlackRock TCP Capital in the 2nd quarter valued at $122,000. Disciplined Investments LLC purchased a new stake in BlackRock TCP Capital in the second quarter worth $108,000. Barings LLC lifted its position in shares of BlackRock TCP Capital by 3,878.9% during the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after purchasing an additional 17,053,151 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of BlackRock TCP Capital by 7.6% during the second quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock valued at $5,057,000 after purchasing an additional 33,147 shares during the period.

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.