Brokerages Set BlackRock TCP Capital Corp. (NASDAQ:TCPC) Target Price at $9.00

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has earned an average rating of “Reduce” from the six analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $9.00.

A number of research analysts recently issued reports on the company. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company raised their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th.

Insider Transactions at BlackRock TCP Capital

In other BlackRock TCP Capital news, President Jason Mehring purchased 4,500 shares of the stock in a transaction dated Wednesday, November 27th. The stock was bought 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 in the company, valued at $185,200.20. This represents a 29.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

Institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new stake in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $25,000. McIlrath & Eck LLC acquired a new stake in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $46,000. Pathway Financial Advisers LLC grew its position in shares of 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 buying an additional 6,379 shares during the period. Quantbot Technologies LP acquired a new stake in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $79,000. Finally, MeadowBrook Investment Advisors LLC boosted its stake in BlackRock TCP Capital by 22.2% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock worth $90,000 after acquiring an additional 1,970 shares during the last quarter.

BlackRock TCP Capital Price Performance

NASDAQ:TCPC opened at $8.63 on Friday. The firm has a market cap of $738.65 million, a PE ratio of -17.26 and a beta of 1.50. The company’s 50-day moving average price is $8.85 and its two-hundred day moving average price is $9.18. The company has a quick ratio of 39.37, a current 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 $11.99.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $70.93 million for the quarter, compared to analyst estimates of $69.13 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. During the same period in the prior year, the business earned $0.49 earnings per share. On average, equities analysts anticipate 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 given a dividend of $0.44 per share. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, December 17th. This represents a $1.76 annualized dividend and a dividend yield of 20.39%. BlackRock TCP Capital’s payout ratio is currently -272.00%.

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.