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

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have received an average recommendation of “Reduce” from the six research firms that are currently covering the firm, Marketbeat.com reports. One equities research 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 issued a report on the stock in the last year is $9.00.

A number of research firms have recently commented on TCPC. Wells Fargo & Company boosted their target price on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th.

BlackRock TCP Capital Trading Down 0.1 %

TCPC stock opened at $8.62 on Friday. BlackRock TCP Capital has a 52-week low of $7.71 and a 52-week high of $11.99. 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 market cap of $737.79 million, a P/E ratio of -17.24 and a beta of 1.50. The company’s 50-day simple moving average is $8.87 and its 200-day simple moving average is $9.17.

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

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 20.42%. The ex-dividend date of this dividend was Tuesday, December 17th. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s payout ratio is presently -272.00%.

Insider Activity

In other news, President Jason Mehring purchased 4,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $9.30 per share, for a total transaction of $41,850.00. Following the completion of the purchase, the president now directly owns 19,914 shares of the company’s stock, valued at approximately $185,200.20. This trade represents a 29.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC purchased a new position in BlackRock TCP Capital in the 3rd quarter valued at approximately $25,000. McIlrath & Eck LLC purchased a new position in BlackRock TCP Capital in the third quarter valued at $46,000. Pathway Financial Advisers LLC grew its stake in 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 purchasing an additional 6,379 shares in the last quarter. Quantbot Technologies LP acquired a new position in BlackRock TCP Capital during the 3rd quarter worth $79,000. Finally, Disciplined Investments LLC acquired a new stake in BlackRock TCP Capital in the 2nd quarter valued at about $108,000.

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.