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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has been assigned a consensus rating of “Reduce” from the six brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $9.00.

Several analysts recently issued reports on TCPC shares. Keefe, Bruyette & Woods lowered their price target on 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 BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. StockNews.com downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company downgraded BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $8.50 to $8.00 in a research note on Monday, August 26th.

BlackRock TCP Capital Trading Up 0.4 %

TCPC stock opened at $8.39 on Tuesday. The company has a market cap of $718.10 million, a price-to-earnings ratio of -15.83 and a beta of 1.47. 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 business has a fifty day simple moving average of $8.60 and a 200-day simple moving average of $9.86. BlackRock TCP Capital has a 52 week low of $8.02 and a 52 week high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The firm had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.39 million. During the same period in the prior year, the firm earned $0.48 EPS. On average, equities research analysts expect that BlackRock TCP Capital will post 1.66 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.34 per share. The ex-dividend date was Monday, September 16th. This represents a $1.36 annualized dividend and a dividend yield of 16.21%. BlackRock TCP Capital’s payout ratio is -256.60%.

Insider Activity at BlackRock TCP Capital

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

Hedge Funds Weigh In On BlackRock TCP Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S boosted its stake in BlackRock TCP Capital by 87.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 185,041 shares of the investment management company’s stock valued at $1,930,000 after acquiring an additional 86,215 shares during the period. Barings LLC boosted its stake in 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 acquiring an additional 17,053,151 shares during the period. Cetera Advisors LLC acquired a new position in BlackRock TCP Capital in the first quarter valued at approximately $185,000. Future Financial Wealth Managment LLC acquired a new position in shares of BlackRock TCP Capital during the first quarter worth approximately $31,000. Finally, LSV Asset Management boosted its position in shares of BlackRock TCP Capital by 1.1% during the first quarter. LSV Asset Management now owns 281,447 shares of the investment management company’s stock worth $2,935,000 after buying an additional 3,147 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.