BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives Average Recommendation of “Reduce” from Brokerages

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

A number of brokerages recently issued reports on TCPC. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company increased their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday. Finally, LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th.

Insider Transactions at BlackRock TCP Capital

In other BlackRock TCP Capital news, Director Philip M. Tseng bought 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $9.10 per share, with a total value of $91,000.00. Following the purchase, the director now directly owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. The trade was a 57.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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 cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 130,930 shares of the company’s stock, 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 quarter, insiders bought 42,000 shares of company stock worth $381,875. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barings LLC lifted its stake in 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 valued at $188,922,000 after purchasing an additional 17,053,151 shares during the last quarter. Transcend Capital Advisors LLC grew 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 worth $8,434,000 after acquiring an additional 297,393 shares during the last quarter. Van ECK Associates Corp raised its position in shares of BlackRock TCP Capital by 17.0% during the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock worth $21,205,000 after purchasing an additional 284,802 shares during the period. Paloma Partners Management Co acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth $608,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of BlackRock TCP Capital by 40.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock valued at $2,364,000 after purchasing an additional 63,509 shares during the last quarter.

BlackRock TCP Capital Stock Performance

Shares of TCPC stock opened at $8.96 on Friday. The company’s fifty day simple moving average is $8.38 and its 200-day simple moving average is $9.65. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a 52 week low of $7.71 and a 52 week high of $12.43. The company has a market cap of $766.90 million, a PE ratio of -17.92 and a beta of 1.47.

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

BlackRock TCP Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 19.64%. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -272.00%.

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.