BlackRock TCP Capital (NASDAQ:TCPC) Upgraded at StockNews.com

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

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods lowered their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company boosted their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Stock Performance

TCPC opened at $8.66 on Thursday. The stock has a fifty day moving average of $8.43 and a 200-day moving average of $9.72. BlackRock TCP Capital has a fifty-two week low of $7.71 and a fifty-two week high of $12.43. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 44.47.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $70.93 million during the quarter, compared to analyst estimates of $69.13 million. During the same quarter last year, the firm earned $0.49 EPS. On average, research analysts forecast that BlackRock TCP Capital will post 1.65 EPS for the current year.

BlackRock TCP Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 annualized dividend and a yield of 20.32%. BlackRock TCP Capital’s dividend payout ratio (DPR) is -271.99%.

Insider Buying and Selling at BlackRock TCP Capital

In related news, Director Philip M. Tseng purchased 10,000 shares of BlackRock TCP Capital stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $9.10 per share, for a total transaction of $91,000.00. Following the purchase, the director now owns 27,481 shares in the company, valued at approximately $250,077.10. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Philip M. Tseng acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $9.10 per share, with a total value of $91,000.00. Following the acquisition, the director now directly owns 27,481 shares in the company, valued at $250,077.10. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Philip M. Tseng bought 5,000 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $9.07 per share, with a total value of $45,350.00. Following the acquisition, the director now owns 17,481 shares in the company, valued at approximately $158,552.67. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 42,000 shares of company stock worth $381,875 over the last 90 days. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On BlackRock TCP Capital

Several hedge funds have recently added to or reduced their stakes in TCPC. Future Financial Wealth Managment LLC acquired a new position in BlackRock TCP Capital in the 3rd quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new position in BlackRock TCP Capital during the 2nd quarter worth $60,000. Pathway Financial Advisers LLC lifted its holdings in BlackRock TCP Capital by 729.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after buying an additional 6,379 shares during the period. Accel Wealth Management acquired a new position in BlackRock TCP Capital during the 2nd quarter worth about $108,000. Finally, Disciplined Investments LLC bought a new stake in shares of BlackRock TCP Capital in the 2nd quarter valued at about $108,000.

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.