BlackRock TCP Capital (NASDAQ:TCPC) Price Target Lowered to $7.50 at Wells Fargo & Company

BlackRock TCP Capital (NASDAQ:TCPC) had its price target decreased by Wells Fargo & Company from $8.00 to $7.50 in a research note released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the investment management company’s stock.

A number of other brokerages have also recently weighed in on TCPC. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods reduced their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.83.

BlackRock TCP Capital Trading Down 1.3 %

NASDAQ:TCPC opened at $8.20 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47. The company has a market capitalization of $701.84 million, a P/E ratio of -15.47 and a beta of 1.47. The stock’s 50 day moving average price is $8.57 and its 200 day moving average price is $9.83. BlackRock TCP Capital has a 52 week low of $8.02 and a 52 week high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. The company had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.39 million. During the same quarter in the prior year, the business posted $0.48 EPS. On average, research analysts forecast that BlackRock TCP Capital will post 1.66 EPS for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.34 per share. The ex-dividend date was Monday, September 16th. This represents a $1.36 annualized dividend and a yield of 16.59%. BlackRock TCP Capital’s payout ratio is -256.60%.

Insider Buying and Selling at BlackRock TCP Capital

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

Hedge Funds Weigh In On BlackRock TCP Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barings LLC grew its holdings in shares of BlackRock TCP Capital by 3,878.9% during the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after purchasing an additional 17,053,151 shares in the last quarter. Van ECK Associates Corp boosted its stake in BlackRock TCP Capital by 7.3% during the third quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock worth $17,257,000 after buying an additional 143,667 shares in the last quarter. Transcend Capital Advisors LLC increased its holdings in BlackRock TCP Capital by 61.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after buying an additional 297,393 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of 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 valued at $5,442,000 after buying an additional 54,786 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of BlackRock TCP Capital by 7.6% during the 2nd quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock worth $5,057,000 after acquiring an additional 33,147 shares during the period.

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.