BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives Average Recommendation of “Reduce” from Analysts

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have been given a consensus rating of “Reduce” by the six brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating 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.

Several equities analysts have recently weighed in on TCPC shares. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company lifted their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th.

Insider Activity at BlackRock TCP Capital

In related news, President Jason Mehring acquired 4,500 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were purchased at an average cost of $9.30 per share, with a total value of $41,850.00. Following the completion of the transaction, the president now owns 19,914 shares of the company’s stock, valued at approximately $185,200.20. This trade represents a 29.19 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

Institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted its position in BlackRock TCP Capital by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock valued at $19,186,000 after purchasing an additional 95,603 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of BlackRock TCP Capital during the 4th quarter worth about $115,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of BlackRock TCP Capital by 12.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 238,432 shares of the investment management company’s stock valued at $2,077,000 after buying an additional 25,560 shares during the last quarter. Columbus Macro LLC acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at about $4,177,000. Finally, Avior Wealth Management LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at approximately $38,000.

BlackRock TCP Capital Price Performance

NASDAQ TCPC opened at $8.86 on Thursday. The firm has a market capitalization of $758.33 million, a PE ratio of -17.72 and a beta of 1.50. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $11.67. The company’s 50 day simple moving average is $8.96 and its 200 day simple moving average is $8.97.

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 the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The firm had revenue of $70.93 million for the quarter, compared to analyst estimates of $69.13 million. During the same quarter last year, the business posted $0.49 earnings per share. As a group, equities research analysts forecast that BlackRock TCP Capital will post 1.65 EPS for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.44 per share. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 19.86%. BlackRock TCP Capital’s payout ratio is currently -271.99%.

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.