BlackRock TCP Capital (NASDAQ:TCPC) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Several other brokerages also recently issued reports on TCPC. Oppenheimer cut their price target on BlackRock TCP Capital from $11.00 to $10.00 and set a market perform rating for the company in a report on Thursday, May 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a market perform rating on the stock in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock TCP Capital currently has an average rating of Hold and an average price target of $10.67.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC opened at $10.92 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 19.05 and a quick ratio of 19.05. The business has a 50-day moving average of $10.79 and a 200-day moving average of $10.88. The stock has a market capitalization of $934.65 million, a price-to-earnings ratio of 31.20 and a beta of 1.49. BlackRock TCP Capital has a fifty-two week low of $9.90 and a fifty-two week high of $13.00.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. BlackRock TCP Capital had a return on equity of 13.95% and a net margin of 9.69%. The firm had revenue of $55.73 million for the quarter, compared to analyst estimates of $50.99 million. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, sell-side analysts predict that BlackRock TCP Capital will post 1.71 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.45%. The ex-dividend date of this dividend was Friday, June 14th. BlackRock TCP Capital’s dividend payout ratio is currently 388.57%.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors and hedge funds have recently modified their holdings of TCPC. PNC Financial Services Group Inc. boosted its holdings in BlackRock TCP Capital by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock valued at $432,000 after purchasing an additional 1,200 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in shares of BlackRock TCP Capital by 2.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 54,010 shares of the investment management company’s stock valued at $563,000 after buying an additional 1,429 shares during the period. Spire Wealth Management increased its stake in BlackRock TCP Capital by 15.6% during the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock worth $149,000 after acquiring an additional 1,730 shares during the period. Arkadios Wealth Advisors increased its stake in BlackRock TCP Capital by 1.8% during the 4th quarter. Arkadios Wealth Advisors now owns 101,178 shares of the investment management company’s stock worth $1,168,000 after acquiring an additional 1,772 shares during the period. Finally, Register Financial Advisors LLC acquired a new position in BlackRock TCP Capital in the 1st quarter valued at $26,000.

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.