Wells Fargo & Company Has Lowered Expectations for BlackRock TCP Capital (NASDAQ:TCPC) Stock Price

BlackRock TCP Capital (NASDAQ:TCPC) had its price objective reduced by research analysts at Wells Fargo & Company from $8.00 to $7.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 11.08% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Friday. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.67.

BlackRock TCP Capital Price Performance

Shares of TCPC stock traded down $0.01 during trading hours on Friday, hitting $8.44. 1,052,187 shares of the company’s stock were exchanged, compared to its average volume of 542,406. The company has a market capitalization of $721.96 million, a PE ratio of -16.83 and a beta of 1.50. The company has a current ratio of 39.37, a quick 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 $11.52. The business’s 50 day simple moving average is $8.97 and its 200-day simple moving average is $8.81.

Institutional Investors Weigh In On BlackRock TCP Capital

Several institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC bought a new position in shares of BlackRock TCP Capital during the fourth quarter valued at about $38,000. McIlrath & Eck LLC purchased a new position in BlackRock TCP Capital during the 3rd quarter valued at about $46,000. Tower Research Capital LLC TRC raised 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 last quarter. Transce3nd LLC purchased a new stake in BlackRock TCP Capital in the 4th quarter worth approximately $70,000. Finally, Quantbot Technologies LP purchased a new stake in BlackRock TCP Capital in the 3rd quarter worth approximately $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.