BlackRock TCP Capital (NASDAQ:TCPC) Upgraded by StockNews.com to Hold Rating

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

TCPC has been the topic of several other research reports. Keefe, Bruyette & Woods dropped their price objective on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company dropped their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.67.

BlackRock TCP Capital Trading Down 0.9 %

Shares of TCPC stock opened at $7.74 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The stock’s 50 day simple moving average is $8.81 and its two-hundred day simple moving average is $8.72. BlackRock TCP Capital has a 1 year low of $7.71 and a 1 year high of $11.52. The company has a market cap of $658.50 million, a PE ratio of -15.48 and a beta of 1.55.

Insider Buying and Selling

In other news, COO Patrick Wolfe acquired 6,100 shares of the business’s stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the purchase, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. This represents a 320.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of large investors have recently made changes to their positions in the stock. Avior Wealth Management LLC purchased a new position in BlackRock TCP Capital in the fourth quarter worth approximately $38,000. McIlrath & Eck LLC acquired a new stake in shares of BlackRock TCP Capital in the third quarter valued at $46,000. Tower Research Capital LLC TRC raised its stake in shares of BlackRock TCP Capital by 177.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after acquiring an additional 3,508 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $70,000. Finally, Quantbot Technologies LP acquired a new stake in shares of BlackRock TCP Capital in the third quarter valued at $79,000.

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.