BlackRock TCP Capital (NASDAQ:TCPC) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a report issued on Tuesday.

Several other research firms also recently issued reports on TCPC. Wells Fargo & Company lowered their price objective on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods reduced their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock TCP Capital presently has an average rating of “Hold” and a consensus target price of $8.67.

BlackRock TCP Capital Stock Up 0.6 %

Shares of NASDAQ TCPC opened at $8.13 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 company has a market cap of $695.85 million, a price-to-earnings ratio of -16.26 and a beta of 1.50. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $11.52. The stock has a 50-day moving average price of $8.94 and a two-hundred day moving average price of $8.79.

BlackRock TCP Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.30%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital’s payout ratio is -133.33%.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently modified their holdings of TCPC. TrueMark Investments LLC bought a new position in shares of BlackRock TCP Capital in the 4th quarter worth $5,268,000. Envestnet Asset Management Inc. lifted its holdings in shares of BlackRock TCP Capital by 623.5% in the 4th 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 in the last quarter. Columbus Macro LLC bought a new position in shares of BlackRock TCP Capital in the 4th quarter worth $4,177,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of BlackRock TCP Capital in the 4th quarter worth $2,939,000. Finally, GraniteShares Advisors LLC bought a new position in shares of BlackRock TCP Capital in the 4th quarter worth $2,453,000.

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.