Oppenheimer Lowers BlackRock TCP Capital (NASDAQ:TCPC) Price Target to $10.00

BlackRock TCP Capital (NASDAQ:TCPC) had its target price dropped by Oppenheimer from $11.00 to $10.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the investment management company’s stock. Oppenheimer’s price target would indicate a potential downside of 4.03% from the stock’s current price.

TCPC has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut their target price on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Raymond James downgraded shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, March 1st. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Finally, Wells Fargo & Company lifted their price target on shares of BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, BlackRock TCP Capital has a consensus rating of “Hold” and a consensus price target of $11.00.

BlackRock TCP Capital Stock Performance

Shares of TCPC stock opened at $10.42 on Thursday. The company’s fifty day simple moving average is $10.35 and its 200-day simple moving average is $11.06. BlackRock TCP Capital has a 52 week low of $9.61 and a 52 week high of $13.00. The company has a current ratio of 30.47, a quick ratio of 30.47 and a debt-to-equity ratio of 1.43. The company has a market cap of $601.96 million, a PE ratio of 15.79 and a beta of 1.42.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Thursday, February 29th. The investment management company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). BlackRock TCP Capital had a net margin of 18.38% and a return on equity of 14.59%. The business had revenue of $50.85 million during the quarter, compared to analysts’ expectations of $53.36 million. As a group, equities research analysts anticipate that BlackRock TCP Capital will post 1.73 EPS for the current year.

Institutional Investors Weigh In On BlackRock TCP Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of BlackRock TCP Capital by 58.5% in the 1st quarter. Van ECK Associates Corp now owns 1,678,661 shares of the investment management company’s stock worth $17,508,000 after purchasing an additional 619,519 shares during the last quarter. Melia Wealth LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter worth about $12,577,000. Hennion & Walsh Asset Management Inc. increased its position in shares of BlackRock TCP Capital by 11.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 449,124 shares of the investment management company’s stock worth $4,684,000 after purchasing an additional 44,452 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of BlackRock TCP Capital by 1,054.0% in the 4th quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock worth $4,754,000 after purchasing an additional 376,278 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new stake in shares of BlackRock TCP Capital in the 1st quarter worth about $4,172,000.

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.