BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives Consensus Recommendation of “Reduce” from Brokerages

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has received an average rating of “Reduce” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $9.00.

A number of research analysts have recently commented on TCPC shares. StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Wells Fargo & Company lowered BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $8.50 to $8.00 in a research report on Monday, August 26th. LADENBURG THALM/SH SH downgraded shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods lowered their price target 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, August 8th.

BlackRock TCP Capital Stock Performance

Shares of TCPC stock opened at $8.31 on Tuesday. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. The stock has a fifty day moving average of $8.58 and a 200 day moving average of $9.84. The firm has a market capitalization of $711.25 million, a price-to-earnings ratio of -15.68 and a beta of 1.47. BlackRock TCP Capital has a 52 week low of $8.02 and a 52 week high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. The company had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.39 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. As a group, research analysts expect that BlackRock TCP Capital will post 1.66 earnings per share for the current year.

BlackRock TCP Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 16.37%. The ex-dividend date of this dividend was Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is -256.60%.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Rajneesh Vig acquired 25,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average cost of $9.09 per share, with a total value of $227,250.00. Following the transaction, the chief executive officer now owns 130,930 shares of the company’s stock, valued at $1,190,153.70. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Philip M. Tseng acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average price of $9.10 per share, with a total value of $91,000.00. Following the completion of the acquisition, the director now directly owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajneesh Vig bought 25,000 shares of the stock in a transaction on Thursday, August 29th. The stock was purchased at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the acquisition, the chief executive officer now owns 130,930 shares of the company’s stock, valued at $1,190,153.70. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 42,000 shares of company stock worth $381,875. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barings LLC grew its position in BlackRock TCP Capital by 3,878.9% during the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after buying an additional 17,053,151 shares during the period. Van ECK Associates Corp grew its position in shares of BlackRock TCP Capital by 17.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after acquiring an additional 284,802 shares during the period. Transcend Capital Advisors LLC grew its position in shares of BlackRock TCP Capital by 61.5% during the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after acquiring an additional 297,393 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of BlackRock TCP Capital by 12.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock worth $5,442,000 after purchasing an additional 54,786 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in BlackRock TCP Capital by 7.6% in the 2nd quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock worth $5,057,000 after purchasing an additional 33,147 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.