BlackRock TCP Capital Corp. (NASDAQ:TCPC) Given Consensus Rating of “Reduce” by Brokerages

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have been assigned an average rating of “Reduce” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.00.

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

Insiders Place Their Bets

In other news, Director Philip M. Tseng acquired 5,000 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the transaction, the director now owns 17,481 shares in the company, valued at approximately $158,552.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlackRock TCP Capital news, Director Philip M. Tseng bought 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the transaction, the director now owns 17,481 shares in the company, valued at $158,552.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip M. Tseng purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of $9.10 per share, with a total value of $91,000.00. Following the transaction, the director now directly owns 27,481 shares of the company’s stock, valued at $250,077.10. The disclosure for this purchase can be found here. In the last quarter, insiders bought 42,000 shares of company stock worth $381,875. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in shares of BlackRock TCP Capital by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock worth $432,000 after purchasing an additional 1,200 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in shares of BlackRock TCP Capital by 25.1% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 134,040 shares of the investment management company’s stock worth $1,547,000 after purchasing an additional 26,863 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in shares of BlackRock TCP Capital by 26.7% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 19,000 shares of the investment management company’s stock worth $232,000 after purchasing an additional 4,000 shares during the last quarter. ARK & TLK Investments LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter worth about $159,000. Finally, Tucker Asset Management LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter worth about $74,000.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC opened at $8.12 on Friday. The business’s 50-day simple moving average is $9.11 and its 200-day simple moving average is $10.09. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47. BlackRock TCP Capital has a 52 week low of $8.03 and a 52 week high of $12.43. The firm has a market cap of $694.99 million, a price-to-earnings ratio of 23.17 and a beta of 1.48.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The business had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.39 million. During the same period last year, the business earned $0.48 EPS. As a group, equities research analysts expect that BlackRock TCP Capital will post 1.66 earnings per share for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.36 annualized dividend and a yield of 16.75%. BlackRock TCP Capital’s dividend payout ratio (DPR) is 388.58%.

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.