BlackRock TCP Capital (NASDAQ:TCPC) Raised to Hold at StockNews.com

BlackRock TCP Capital (NASDAQ:TCPC) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

A number of other research firms also recently commented on TCPC. Keefe, Bruyette & Woods dropped their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company reduced their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.67.

BlackRock TCP Capital Price Performance

NASDAQ:TCPC opened at $7.74 on Tuesday. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The firm has a fifty day simple moving average of $8.81 and a 200 day simple moving average of $8.72. BlackRock TCP Capital has a 1-year low of $7.71 and a 1-year high of $11.52. The stock has a market capitalization of $658.50 million, a PE ratio of -15.48 and a beta of 1.55.

Insider Activity at BlackRock TCP Capital

In other BlackRock TCP Capital news, COO Patrick Wolfe acquired 6,100 shares of BlackRock TCP Capital stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares of the company’s stock, valued at $64,984.36. This trade represents a 320.55 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in shares of BlackRock TCP Capital by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock valued at $19,186,000 after acquiring an additional 95,603 shares in the last quarter. Transcend Capital Advisors LLC raised its stake in BlackRock TCP Capital by 17.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company’s stock valued at $12,477,000 after buying an additional 209,898 shares during the last quarter. TrueMark Investments LLC purchased a new position in shares of BlackRock TCP Capital in the fourth quarter worth $5,268,000. Envestnet Asset Management Inc. raised its stake in shares of BlackRock TCP Capital by 623.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock worth $4,867,000 after purchasing an additional 481,581 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of BlackRock TCP Capital by 3.7% in the third quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company’s stock worth $4,024,000 after purchasing an additional 17,218 shares during the last quarter.

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.