BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives $9.00 Consensus Price Target from Brokerages

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have been given an average rating of “Reduce” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $9.00.

TCPC has been the topic of a number of research reports. 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 lowered their price objective on 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. StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company lowered shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $8.50 to $8.00 in a research report on Monday, August 26th.

BlackRock TCP Capital Stock Up 2.1 %

TCPC stock opened at $8.36 on Tuesday. The firm has a market cap of $715.53 million, a price-to-earnings ratio of -15.77 and a beta of 1.47. BlackRock TCP Capital has a 1-year low of $8.02 and a 1-year high of $12.43. The firm has a fifty day moving average price of $8.61 and a two-hundred day moving average price of $9.87. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter in the prior year, the firm earned $0.48 EPS. Research analysts predict that BlackRock TCP Capital will post 1.66 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 16.27%. The ex-dividend date of this dividend was Monday, September 16th. BlackRock TCP Capital’s payout ratio is currently -256.60%.

Insiders Place Their Bets

In other BlackRock TCP Capital news, CEO Rajneesh Vig purchased 25,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were bought at an average cost of $9.09 per share, with a total value of $227,250.00. Following the completion of the acquisition, the chief executive officer now owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Rajneesh Vig acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was 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. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Philip M. Tseng acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the purchase, the director now directly owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 42,000 shares of company stock worth $381,875. 0.16% of the stock is owned by company insiders.

Institutional Trading of BlackRock TCP Capital

A number of hedge funds and other institutional investors have recently modified their holdings of TCPC. J.W. Cole Advisors Inc. acquired a new position in BlackRock TCP Capital during the third quarter worth about $431,000. Pathway Financial Advisers LLC boosted its position in shares of 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 valued at $60,000 after purchasing an additional 6,379 shares in the last quarter. Arkadios Wealth Advisors grew its stake in shares of BlackRock TCP Capital by 32.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 102,477 shares of the investment management company’s stock worth $850,000 after purchasing an additional 25,193 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of BlackRock TCP Capital by 729.0% in the 3rd quarter. International Assets Investment Management LLC now owns 46,374 shares of the investment management company’s stock worth $3,840,000 after purchasing an additional 40,780 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in BlackRock TCP Capital during the third quarter valued at approximately $25,000.

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.