BlackRock TCP Capital (NASDAQ:TCPC) Cut to Sell at StockNews.com

BlackRock TCP Capital (NASDAQ:TCPC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

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

BlackRock TCP Capital Trading Down 9.7 %

Shares of TCPC stock opened at $7.08 on Friday. The company has a market cap of $602.35 million, a PE ratio of -14.16 and a beta of 1.55. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The stock’s 50 day simple moving average is $8.56 and its two-hundred day simple moving average is $8.62. BlackRock TCP Capital has a 1 year low of $7.07 and a 1 year high of $11.52.

Insiders Place Their Bets

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

Institutional Investors Weigh In On BlackRock TCP Capital

Hedge funds have recently made changes to their positions in the company. M Holdings Securities Inc. raised its holdings in shares of BlackRock TCP Capital by 2.5% in the fourth quarter. M Holdings Securities Inc. now owns 77,760 shares of the investment management company’s stock valued at $677,000 after acquiring an additional 1,890 shares in the last quarter. Mariner LLC increased its position in BlackRock TCP Capital by 9.4% during the 4th quarter. Mariner LLC now owns 27,293 shares of the investment management company’s stock valued at $238,000 after purchasing an additional 2,346 shares during the period. SeaCrest Wealth Management LLC raised its holdings in shares of BlackRock TCP Capital by 18.8% in the 4th quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company’s stock valued at $130,000 after purchasing an additional 2,350 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of BlackRock TCP Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after purchasing an additional 3,508 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its position in shares of BlackRock TCP Capital by 33.3% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 16,000 shares of the investment management company’s stock worth $139,000 after purchasing an additional 4,000 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.