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

BlackRock TCP Capital (NASDAQ:TCPC) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Several other equities analysts have also issued reports on the stock. Wells Fargo & Company lifted their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods lowered their price objective on 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, LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Stock Performance

Shares of TCPC stock opened at $9.02 on Monday. The firm has a market cap of $772.02 million, a price-to-earnings ratio of -18.04 and a beta of 1.47. BlackRock TCP Capital has a 52-week low of $7.71 and a 52-week high of $12.43. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The company’s 50 day moving average is $8.39 and its 200 day moving average is $9.66.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The company had revenue of $70.93 million for the quarter, compared to the consensus estimate of $69.13 million. During the same period in the previous year, the business earned $0.49 EPS. On average, sell-side analysts anticipate that BlackRock TCP Capital will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Philip M. Tseng bought 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the acquisition, the director now directly owns 17,481 shares of the company’s stock, valued at $158,552.67. This trade represents a 40.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rajneesh Vig purchased 25,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were acquired at an average price 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 in the company, valued at approximately $1,190,153.70. This trade represents a 23.60 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 42,000 shares of company stock valued at $381,875. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of BlackRock TCP Capital

Several hedge funds have recently modified their holdings of the stock. Barings LLC raised its position in BlackRock TCP Capital by 3,878.9% in the 2nd 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 in the last quarter. Van ECK Associates Corp lifted its position in shares of BlackRock TCP Capital by 7.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock worth $17,257,000 after buying an additional 143,667 shares during the last quarter. Transcend Capital Advisors LLC lifted its holdings in shares of BlackRock TCP Capital by 61.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after purchasing an additional 297,393 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in BlackRock TCP Capital by 12.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock valued at $5,442,000 after purchasing an additional 54,786 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of BlackRock TCP Capital by 3.7% during the third quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company’s stock worth $4,024,000 after buying an additional 17,218 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.