BlackRock TCP Capital (NASDAQ:TCPC) Lowered to Sell Rating by StockNews.com

BlackRock TCP Capital (NASDAQ:TCPC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods cut their price objective on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company cut their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.67.

BlackRock TCP Capital Trading Down 9.7 %

Shares of TCPC traded down $0.76 during midday trading on Friday, reaching $7.08. The company had a trading volume of 1,371,756 shares, compared to its average volume of 553,275. BlackRock TCP Capital has a 1-year low of $7.02 and a 1-year high of $11.52. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The firm has a 50 day simple moving average of $8.56 and a 200-day simple moving average of $8.62. The stock has a market cap of $602.35 million, a PE ratio of -14.16 and a beta of 1.55.

Insider Buying and Selling at BlackRock TCP Capital

In related news, COO Patrick Wolfe acquired 6,100 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the acquisition, the chief operating officer now owns 8,003 shares in the company, valued at $64,984.36. The trade was a 320.55 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip M. Tseng acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average cost of $7.74 per share, with a total value of $77,400.00. Following the transaction, the chief executive officer now directly owns 38,587 shares in the company, valued at $298,663.38. This trade represents a 34.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 18,500 shares of company stock valued at $146,444 over the last 90 days. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in BlackRock TCP Capital by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock worth $19,186,000 after acquiring an additional 95,603 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in shares of BlackRock TCP Capital by 17.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company’s stock worth $12,477,000 after purchasing an additional 209,898 shares in the last quarter. TrueMark Investments LLC purchased a new position in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $5,268,000. Envestnet Asset Management Inc. boosted its stake in shares of BlackRock TCP Capital by 623.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock valued at $4,867,000 after purchasing an additional 481,581 shares during the period. Finally, Barings LLC grew its holdings in shares of BlackRock TCP Capital by 5.0% in the fourth quarter. Barings LLC now owns 480,322 shares of the investment management company’s stock valued at $4,184,000 after purchasing an additional 22,675 shares in 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.