BlackRock TCP Capital (NASDAQ:TCPC) PT Lowered to $8.50

BlackRock TCP Capital (NASDAQ:TCPC) had its price target dropped by research analysts at Wells Fargo & Company from $10.00 to $8.50 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the investment management company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 4.49% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research report on Thursday. Oppenheimer lowered their target price on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. StockNews.com downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock TCP Capital presently has a consensus rating of “Hold” and an average price target of $9.17.

BlackRock TCP Capital Stock Performance

TCPC stock traded down $0.11 during midday trading on Monday, hitting $8.90. The company’s stock had a trading volume of 254,952 shares, compared to its average volume of 446,645. The stock has a market cap of $761.76 million, a price-to-earnings ratio of 25.43 and a beta of 1.49. The company has a quick ratio of 19.05, a current ratio of 19.05 and a debt-to-equity ratio of 1.37. The stock’s 50-day moving average price is $10.75 and its 200 day moving average price is $10.67. BlackRock TCP Capital has a 1 year low of $8.90 and a 1 year high of $12.62.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. The company had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.39 million. During the same period in the previous year, the firm earned $0.48 EPS. On average, equities analysts forecast that BlackRock TCP Capital will post 1.71 EPS for the current year.

Institutional Trading of BlackRock TCP Capital

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in shares of BlackRock TCP Capital by 1,054.0% during the fourth quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock valued at $4,754,000 after buying an additional 376,278 shares during the period. Signaturefd LLC grew its stake in BlackRock TCP Capital by 73.2% during the fourth quarter. Signaturefd LLC now owns 13,490 shares of the investment management company’s stock valued at $156,000 after acquiring an additional 5,700 shares in the last quarter. Van ECK Associates Corp increased its holdings in BlackRock TCP Capital by 10.6% during the 4th quarter. Van ECK Associates Corp now owns 1,059,142 shares of the investment management company’s stock worth $12,222,000 after acquiring an additional 101,513 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its stake in BlackRock TCP Capital by 7.3% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 49,037 shares of the investment management company’s stock worth $566,000 after purchasing an additional 3,331 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in BlackRock TCP Capital by 15.6% in the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock valued at $149,000 after purchasing an additional 1,730 shares during the period.

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.