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

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have been given a consensus recommendation of “Reduce” by the six research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $9.00.

Several equities research analysts recently commented on TCPC shares. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company raised their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other news, President Jason Mehring purchased 4,500 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average price of $9.30 per share, with a total value of $41,850.00. Following the purchase, the president now owns 19,914 shares in the company, valued at $185,200.20. This represents a 29.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Trading of BlackRock TCP Capital

A number of institutional investors have recently added to or reduced their stakes in the business. Barings LLC lifted its stake in shares of 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 during the last quarter. EP Wealth Advisors LLC bought a new position in BlackRock TCP Capital during the third quarter valued at about $526,000. Paloma Partners Management Co acquired a new stake in shares of BlackRock TCP Capital in the third quarter worth about $608,000. Van ECK Associates Corp boosted its stake 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 acquiring an additional 143,667 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in shares of BlackRock TCP Capital by 91.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 29,877 shares of the investment management company’s stock valued at $248,000 after acquiring an additional 14,245 shares during the last quarter.

BlackRock TCP Capital Stock Performance

TCPC opened at $8.84 on Friday. 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 firm has a market cap of $756.62 million, a PE ratio of -17.68 and a beta of 1.50. The business has a fifty day simple moving average of $8.83 and a 200-day simple moving average of $9.22. BlackRock TCP Capital has a fifty-two week low of $7.71 and a fifty-two week high of $11.99.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results 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 positive return on equity of 14.16% and a negative net margin of 15.22%. The company had revenue of $70.93 million during the quarter, compared to analysts’ expectations of $69.13 million. During the same period in the prior year, the business posted $0.49 EPS. As a group, equities analysts predict that BlackRock TCP Capital will post 1.65 EPS for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a yield of 19.91%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s payout ratio is -272.00%.

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.