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 published on Monday morning.

A number of other equities analysts have also commented on TCPC. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company raised their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. 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. 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 company presently has an average rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC opened at $8.96 on Monday. BlackRock TCP Capital has a 52-week low of $7.71 and a 52-week high of $12.43. The stock has a market capitalization of $766.90 million, a price-to-earnings ratio of -17.92 and a beta of 1.47. 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’s fifty day simple moving average is $8.38 and its 200 day simple moving average is $9.65.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings data 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 positive return on equity of 14.16% and a negative net margin of 15.22%. The company had revenue of $70.93 million for the quarter, compared to analyst estimates of $69.13 million. During the same quarter in the previous year, the firm posted $0.49 EPS. As a group, sell-side analysts forecast that BlackRock TCP Capital will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 19.64%. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently -272.00%.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Rajneesh Vig purchased 25,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were acquired at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the acquisition, the chief executive officer now owns 130,930 shares of the company’s stock, valued at $1,190,153.70. This trade represents a 23.60 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Philip M. Tseng acquired 5,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $9.07 per share, with a total value of $45,350.00. Following the purchase, the director now owns 17,481 shares in the company, valued at $158,552.67. The trade was a 40.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 42,000 shares of company stock worth $381,875 over the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors have recently bought and sold shares of the stock. McIlrath & Eck LLC acquired a new position in shares of BlackRock TCP Capital during the 3rd quarter valued at about $46,000. Y Intercept Hong Kong Ltd raised its position in shares of BlackRock TCP Capital by 190.3% in the third quarter. Y Intercept Hong Kong Ltd now owns 71,075 shares of the investment management company’s stock valued at $589,000 after purchasing an additional 46,595 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of BlackRock TCP Capital in the third quarter worth $526,000. Jane Street Group LLC boosted its holdings in shares of BlackRock TCP Capital by 189.3% during the 3rd quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock worth $302,000 after buying an additional 23,857 shares during the period. Finally, Centiva Capital LP acquired a new position in BlackRock TCP Capital in the 3rd quarter valued at $258,000.

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.