BlackRock TCP Capital (NASDAQ:TCPC) Rating Increased 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 Monday.

Several other research firms have also weighed in on TCPC. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods cut their target price on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, Wells Fargo & Company increased their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Stock Performance

NASDAQ:TCPC opened at $8.96 on Monday. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average price of $8.38 and a 200 day moving average price of $9.65. The firm has a market capitalization of $766.90 million, a PE ratio of -17.92 and a beta of 1.47. BlackRock TCP Capital has a 12-month low of $7.71 and a 12-month high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its earnings results on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04). The company had revenue of $70.93 million for 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 quarter last year, the business earned $0.49 EPS. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 19.64%. 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. BlackRock TCP Capital’s dividend payout ratio is -272.00%.

Insider Buying and Selling

In other BlackRock TCP Capital news, CEO Rajneesh Vig acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. This represents a 23.60 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip M. Tseng acquired 5,000 shares of BlackRock TCP Capital stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the purchase, the director now owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. The trade was a 40.06 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 42,000 shares of company stock worth $381,875 over the last three months. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TCPC. Barings LLC increased its holdings in BlackRock TCP Capital by 3,878.9% in the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after purchasing an additional 17,053,151 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of BlackRock TCP Capital in the 1st quarter valued at approximately $185,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in BlackRock TCP Capital by 40.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock worth $2,364,000 after acquiring an additional 63,509 shares during the last quarter. Van ECK Associates Corp grew its holdings 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 valued at $17,257,000 after purchasing an additional 143,667 shares during the period. Finally, Raymond James & Associates increased its stake in 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 valued at $3,488,000 after purchasing an additional 20,888 shares in the last quarter.

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.