BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives $9.00 Consensus PT from Analysts

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has received a consensus recommendation of “Reduce” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One equities 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 target among analysts that have covered the stock in the last year is $9.00.

TCPC has been the subject of several research reports. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company upped their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday, November 7th.

BlackRock TCP Capital Trading Down 0.3 %

NASDAQ:TCPC opened at $9.51 on Wednesday. The company has a market capitalization of $813.96 million, a P/E ratio of -19.02 and a beta of 1.50. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $12.03. The firm has a fifty day simple moving average of $8.70 and a 200-day simple moving average of $9.49.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The firm had revenue of $70.93 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $0.49 EPS. On average, equities research analysts anticipate that BlackRock TCP Capital will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 18.51%. The ex-dividend date is Tuesday, December 17th. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently -271.99%.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, President Jason Mehring bought 4,500 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the transaction, the president now directly owns 19,914 shares of the company’s stock, valued at approximately $185,200.20. This represents a 29.19 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of large investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC purchased a new position in shares of BlackRock TCP Capital in the third quarter valued at approximately $25,000. McIlrath & Eck LLC acquired a new position in BlackRock TCP Capital in the 3rd quarter valued at $46,000. International Assets Investment Management LLC purchased a new position in BlackRock TCP Capital in the 2nd quarter valued at $60,000. Pathway Financial Advisers LLC boosted 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 during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of BlackRock TCP Capital during the third quarter worth $79,000.

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.