Analysts Set BlackRock TCP Capital Corp. (NASDAQ:TCPC) Price Target at $9.00

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has been given an average recommendation of “Reduce” by the six brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $9.00.

A number of equities research analysts have weighed in on TCPC shares. Wells Fargo & Company downgraded BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $8.50 to $8.00 in a report on Monday, August 26th. StockNews.com lowered BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday, August 8th.

BlackRock TCP Capital Stock Down 1.6 %

TCPC stock opened at $8.16 on Friday. BlackRock TCP Capital has a 52 week low of $8.03 and a 52 week high of $12.43. The business has a 50-day simple moving average of $9.17 and a 200 day simple moving average of $10.10. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. The company has a market cap of $698.41 million, a PE ratio of 23.31 and a beta of 1.48.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter in the prior year, the firm posted $0.48 EPS. Sell-side analysts anticipate that BlackRock TCP Capital will post 1.66 EPS for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.34 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.36 annualized dividend and a yield of 16.67%. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Insider Activity at BlackRock TCP Capital

In related news, CEO Rajneesh Vig bought 25,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average cost of $9.09 per share, with a total value of $227,250.00. Following the transaction, the chief executive officer now directly owns 130,930 shares in the company, valued at $1,190,153.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Rajneesh Vig bought 25,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of $9.09 per share, with a total value of $227,250.00. Following the completion of the purchase, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at $1,190,153.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip M. Tseng acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the purchase, the director now directly owns 27,481 shares in the company, valued at $250,077.10. The disclosure for this purchase can be found here. Insiders acquired a total of 42,000 shares of company stock worth $381,875 in the last quarter. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Barings LLC raised 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 worth $188,922,000 after buying an additional 17,053,151 shares during the period. Van ECK Associates Corp raised its position in shares of BlackRock TCP Capital by 17.0% during the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock worth $21,205,000 after purchasing an additional 284,802 shares during the period. Transcend Capital Advisors LLC raised its position in shares of BlackRock TCP Capital by 61.5% during the second quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock worth $8,434,000 after purchasing an additional 297,393 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of BlackRock TCP Capital by 12.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock worth $5,442,000 after purchasing an additional 54,786 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in BlackRock TCP Capital by 7.6% in the 2nd quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock valued at $5,057,000 after purchasing an additional 33,147 shares during the period.

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.