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

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research report released on Thursday.

Several other equities analysts also recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company dropped their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.67.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $8.01 on Thursday. BlackRock TCP Capital has a one year low of $7.67 and a one year high of $11.52. The stock has a fifty day moving average of $8.71 and a 200 day moving average of $8.67. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The stock has a market cap of $681.47 million, a PE ratio of -16.02 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.48%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital’s payout ratio is -133.33%.

Insider Transactions at BlackRock TCP Capital

In other news, CEO Philip M. Tseng bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average cost of $7.74 per share, with a total value of $77,400.00. Following the transaction, the chief executive officer now directly owns 38,587 shares in the company, valued at approximately $298,663.38. The trade was a 34.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Patrick Wolfe acquired 6,100 shares of BlackRock TCP Capital stock in a transaction dated Friday, March 14th. The stock was purchased at an average price of $8.12 per share, with a total value of $49,532.00. Following the completion of the purchase, the chief operating officer now owns 8,003 shares of the company’s stock, valued at approximately $64,984.36. The trade was a 320.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 18,500 shares of company stock valued at $146,444. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On BlackRock TCP Capital

Hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC acquired a new position in shares of BlackRock TCP Capital during the 4th quarter valued at about $38,000. McIlrath & Eck LLC purchased a new position in BlackRock TCP Capital during the third quarter worth about $46,000. Tower Research Capital LLC TRC boosted its holdings in BlackRock TCP Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after purchasing an additional 3,508 shares during the last quarter. Transce3nd LLC purchased a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at approximately $70,000. Finally, Quantbot Technologies LP acquired a new stake in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $79,000.

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.