StockNews.com Upgrades BlackRock TCP Capital (NASDAQ:TCPC) to Hold

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

A number of other equities analysts have also weighed in on TCPC. Wells Fargo & Company upped their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday. Keefe, Bruyette & Woods dropped their price target 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. Finally, LADENBURG THALM/SH SH cut shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.00.

BlackRock TCP Capital Trading Down 0.6 %

BlackRock TCP Capital stock opened at $8.66 on Thursday. The company has a current ratio of 39.37, a quick ratio of 44.47 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a 12-month low of $7.71 and a 12-month high of $12.43. The firm has a market capitalization of $741.21 million, a price-to-earnings ratio of -17.32 and a beta of 1.47. The firm has a 50 day moving average of $8.43 and a 200 day moving average of $9.72.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data 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 firm had revenue of $70.93 million for the quarter, compared to the consensus estimate of $69.13 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. During the same quarter in the previous year, the business earned $0.49 earnings per share. As a group, research analysts predict that BlackRock TCP Capital will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.44 per share. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 dividend on an annualized basis and a dividend yield of 20.32%. The ex-dividend date of this dividend is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio is currently -271.99%.

Insider Activity at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Rajneesh Vig acquired 25,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average cost of $9.09 per share, with a total value of $227,250.00. Following the purchase, 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 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Rajneesh Vig acquired 25,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of $9.09 per share, with a total value of $227,250.00. Following the purchase, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Philip M. Tseng bought 10,000 shares of the business’s 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 transaction, the director now owns 27,481 shares in the company, valued at approximately $250,077.10. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 42,000 shares of company stock valued at $381,875 over the last 90 days. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of large investors have recently made changes to their positions in the company. Barings LLC lifted its stake 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 worth $188,922,000 after purchasing an additional 17,053,151 shares during the last quarter. Cetera Advisors LLC purchased a new position in BlackRock TCP Capital during the 1st quarter valued at $185,000. LSV Asset Management grew its position in BlackRock TCP Capital by 1.1% in the 1st quarter. LSV Asset Management now owns 281,447 shares of the investment management company’s stock valued at $2,935,000 after acquiring an additional 3,147 shares during the last quarter. Atomi Financial Group Inc. purchased a new stake in BlackRock TCP Capital in the first quarter worth $134,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in BlackRock TCP Capital by 40.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock worth $2,364,000 after purchasing an additional 63,509 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.