BlackRock TCP Capital (NASDAQ:TCPC) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research note published on Thursday morning.

A number of other research analysts have also recently issued reports on TCPC. Wells Fargo & Company decreased their price objective on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.67.

BlackRock TCP Capital Stock Performance

TCPC stock opened at $8.01 on Thursday. BlackRock TCP Capital has a 52 week low of $7.67 and a 52 week high of $11.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The company’s 50-day simple moving average is $8.71 and its 200 day simple moving average is $8.67. The company has a market capitalization of $681.47 million, a PE ratio of -16.02 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 12.48%. BlackRock TCP Capital’s dividend payout ratio is currently -133.33%.

Insiders Place Their Bets

In other news, CEO Philip M. Tseng purchased 10,000 shares of the business’s stock in a transaction on Friday, March 21st. The stock was purchased at an average cost of $7.74 per share, with a total value of $77,400.00. Following the acquisition, the chief executive officer now directly owns 38,587 shares in the company, valued at approximately $298,663.38. This trade represents a 34.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Wolfe purchased 6,100 shares of the stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the acquisition, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. This represents a 320.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 18,500 shares of company stock valued at $146,444 in the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackRock TCP Capital

Several institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC purchased a new stake in BlackRock TCP Capital in the 4th quarter worth approximately $38,000. McIlrath & Eck LLC bought a new stake in BlackRock TCP Capital in the third quarter valued at $46,000. Tower Research Capital LLC TRC increased its position in BlackRock TCP Capital by 177.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after purchasing an additional 3,508 shares during the period. Transce3nd LLC purchased a new position in BlackRock TCP Capital during the 4th quarter valued at $70,000. Finally, Quantbot Technologies LP bought a new position in BlackRock TCP Capital in the 3rd 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.