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

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have received an average recommendation of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $9.00.

A number of brokerages have issued reports on TCPC. Wells Fargo & Company increased their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th.

Insider Activity

In other news, President Jason Mehring acquired 4,500 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average cost of $9.30 per share, with a total value of $41,850.00. Following the completion of the purchase, the president now directly owns 19,914 shares of the company’s stock, valued at $185,200.20. This represents a 29.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of BlackRock TCP Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new position in BlackRock TCP Capital during the 1st quarter valued at $185,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake 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 period. Raymond James & Associates grew its holdings in shares of BlackRock TCP Capital by 6.9% in the second quarter. Raymond James & Associates now owns 322,962 shares of the investment management company’s stock worth $3,488,000 after purchasing an additional 20,888 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake 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 worth $5,442,000 after buying an additional 54,786 shares during the period. Finally, Catalina Capital Group LLC bought a new stake in BlackRock TCP Capital during the 2nd quarter valued at about $108,000.

BlackRock TCP Capital Stock Down 0.3 %

TCPC opened at $9.51 on Wednesday. The stock has a market cap of $813.96 million, a price-to-earnings ratio of -19.02 and a beta of 1.50. 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 firm’s fifty day moving average is $8.70 and its 200 day moving average is $9.47. BlackRock TCP Capital has a fifty-two week low of $7.71 and a fifty-two week high of $12.03.

BlackRock TCP Capital (NASDAQ:TCPC) last released 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). The business had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. During the same period last year, the company earned $0.49 EPS. On average, sell-side analysts forecast that BlackRock TCP Capital will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 18.51%. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio is -271.99%.

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.