BlackRock TCP Capital (NASDAQ:TCPC) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

BlackRock TCP Capital Corp. (NASDAQ:TCPC)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.85 and traded as high as $9.16. BlackRock TCP Capital shares last traded at $9.15, with a volume of 314,956 shares.

Analysts Set New Price Targets

TCPC has been the topic of a number of recent research reports. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company boosted their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Trading Up 1.6 %

The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average of $8.94 and a two-hundred day moving average of $8.85. The firm has a market capitalization of $783.15 million, a P/E ratio of -18.30 and a beta of 1.50.

Insider Transactions at BlackRock TCP Capital

In other news, President Jason Mehring purchased 4,500 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $9.30 per share, with a total value of $41,850.00. Following the completion of the purchase, the president now owns 19,914 shares of the company’s stock, valued at $185,200.20. This trade represents a 29.19 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings 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 buying an additional 95,603 shares during the period. Transcend Capital Advisors LLC raised 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 acquiring an additional 209,898 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of BlackRock TCP Capital by 3.7% in the third quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company’s stock worth $4,024,000 after acquiring an additional 17,218 shares during the period. Barings LLC lifted its stake 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 worth $4,184,000 after acquiring an additional 22,675 shares during the period. Finally, Columbus Macro LLC bought a new stake in BlackRock TCP Capital in the fourth quarter valued at approximately $4,177,000.

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.