BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives Consensus Recommendation of “Reduce” from Brokerages

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has been assigned an average rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.00.

A number of equities research analysts recently weighed in on TCPC shares. Wells Fargo & Company boosted their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th.

Insider Buying and Selling at BlackRock TCP Capital

In related news, President Jason Mehring purchased 4,500 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $9.30 per share, for a total transaction of $41,850.00. Following the transaction, the president now owns 19,914 shares of the company’s stock, valued at $185,200.20. This represents a 29.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Barings LLC boosted its stake in 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 valued at $188,922,000 after purchasing an additional 17,053,151 shares in the last quarter. EP Wealth Advisors LLC bought a new position in BlackRock TCP Capital during the third quarter valued at about $526,000. Paloma Partners Management Co bought a new position in BlackRock TCP Capital during the third quarter valued at about $608,000. 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 worth $17,257,000 after acquiring an additional 143,667 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its position in BlackRock TCP Capital by 91.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 29,877 shares of the investment management company’s stock worth $248,000 after acquiring an additional 14,245 shares in the last quarter.

BlackRock TCP Capital Trading Down 0.3 %

NASDAQ:TCPC opened at $8.84 on Friday. The company has a market cap of $756.62 million, a PE ratio of -17.68 and a beta of 1.50. The business’s 50 day moving average is $8.83 and its two-hundred day moving average is $9.22. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a 52 week low of $7.71 and a 52 week high of $11.99.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. The firm had revenue of $70.93 million for the quarter, compared to the consensus estimate of $69.13 million. During the same quarter last year, the business earned $0.49 earnings per share. On average, analysts predict that BlackRock TCP Capital will post 1.65 EPS for the current year.

BlackRock TCP Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 19.91%. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio is -272.00%.

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.