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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has earned a consensus rating of “Reduce” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $9.00.

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their target price on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th.

BlackRock TCP Capital Trading Up 0.3 %

NASDAQ:TCPC opened at $9.21 on Thursday. 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 $11.60. The stock’s 50 day moving average price is $8.97 and its 200 day moving average price is $8.95. The company has a market capitalization of $788.28 million, a PE ratio of -18.42 and a beta of 1.50.

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

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 19.11%. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, December 17th. BlackRock TCP Capital’s payout ratio is -271.99%.

Insider Activity at BlackRock TCP Capital

In related news, President Jason Mehring bought 4,500 shares of the firm’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 approximately $185,200.20. This trade represents a 29.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of large investors have recently made changes to their positions in TCPC. Jane Street Group LLC boosted its position in BlackRock TCP Capital by 189.3% during the third quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock worth $302,000 after purchasing an additional 23,857 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of BlackRock TCP Capital in the 3rd quarter worth about $526,000. Paloma Partners Management Co acquired a new stake in BlackRock TCP Capital in the 3rd quarter valued at about $608,000. Van ECK Associates Corp increased its holdings in BlackRock TCP Capital by 7.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock valued at $17,257,000 after acquiring an additional 143,667 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in BlackRock TCP Capital by 91.1% during 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 during the last quarter.

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.