Keefe, Bruyette & Woods Issues Pessimistic Forecast for BlackRock TCP Capital (NASDAQ:TCPC) Stock Price

BlackRock TCP Capital (NASDAQ:TCPC) had its target price dropped by investment analysts at Keefe, Bruyette & Woods from $9.00 to $8.50 in a report released on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 0.65% from the company’s current price.

TCPC has been the topic of a number of other reports. Wells Fargo & Company raised their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report 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. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.83.

BlackRock TCP Capital Stock Performance

TCPC stock traded up $0.01 during mid-day trading on Friday, reaching $8.45. The company had a trading volume of 681,958 shares, compared to its average volume of 532,736. 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 stock has a market capitalization of $722.82 million, a P/E ratio of -16.91 and a beta of 1.50. BlackRock TCP Capital has a one year low of $7.71 and a one year high of $11.52. The stock’s 50-day simple moving average is $8.97 and its two-hundred day simple moving average is $8.81.

Institutional Trading of BlackRock TCP Capital

A number of hedge funds have recently made changes to their positions in TCPC. Avior Wealth Management LLC bought a new position in BlackRock TCP Capital during the fourth quarter valued at approximately $38,000. McIlrath & Eck LLC bought a new stake in BlackRock TCP Capital during the third quarter worth approximately $46,000. Tower Research Capital LLC TRC boosted its position in BlackRock TCP Capital by 177.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after purchasing an additional 3,508 shares during the period. Transce3nd LLC bought a new stake in BlackRock TCP Capital during the fourth quarter worth approximately $70,000. Finally, Quantbot Technologies LP bought a new stake in shares of BlackRock TCP Capital in the third quarter valued at approximately $79,000.

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.