BlackRock TCP Capital (NASDAQ:TCPC) Upgraded at StockNews.com

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research note issued to investors on Monday.

Other equities analysts have also issued reports about the stock. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company boosted their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.00.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC opened at $9.00 on Monday. 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 business’s 50 day moving average price is $8.39 and its two-hundred day moving average price is $9.66. The company has a market cap of $770.31 million, a PE ratio of -18.00 and a beta of 1.47. BlackRock TCP Capital has a twelve month low of $7.71 and a twelve month high of $12.43.

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

BlackRock TCP Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a yield of 19.56%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s payout ratio is currently -271.99%.

Insiders Place Their Bets

In related news, CEO Rajneesh Vig purchased 25,000 shares of the company’s 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 in the company, valued at $1,190,153.70. This trade represents a 23.60 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip M. Tseng acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $9.07 per share, with a total value of $45,350.00. Following the transaction, the director now directly owns 17,481 shares of the company’s stock, valued at $158,552.67. This trade represents a 40.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 42,000 shares of company stock worth $381,875 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On BlackRock TCP Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC increased its stake in BlackRock TCP Capital by 22.2% in the third quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock valued at $90,000 after acquiring an additional 1,970 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of BlackRock TCP Capital in the 3rd quarter valued at $25,000. International Assets Investment Management LLC bought a new position in shares of BlackRock TCP Capital in the 2nd quarter valued at $60,000. Pathway Financial Advisers LLC raised its holdings in shares of BlackRock TCP Capital by 729.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after buying an additional 6,379 shares in the last quarter. Finally, Ignite Planners LLC lifted its position in shares of BlackRock TCP Capital by 10.6% during the 2nd quarter. Ignite Planners LLC now owns 73,376 shares of the investment management company’s stock worth $805,000 after buying an additional 7,017 shares during the last quarter.

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.