StockNews.com Upgrades BlackRock TCP Capital (NASDAQ:TCPC) to “Hold”

BlackRock TCP Capital (NASDAQ:TCPC) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company raised their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods reduced their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, BlackRock TCP Capital has an average rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Stock Up 0.4 %

TCPC traded up $0.04 on Monday, hitting $9.00. 533,133 shares of the company were exchanged, compared to its average volume of 506,872. 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 stock’s fifty day moving average is $8.39 and its 200-day moving average is $9.66. The company has a market cap of $770.31 million, a PE ratio of -18.00 and a beta of 1.47. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The firm had revenue of $70.93 million for the quarter, compared to the consensus estimate of $69.13 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. During the same quarter last year, the business posted $0.49 EPS. Equities research analysts predict that BlackRock TCP Capital will post 1.65 EPS for the current fiscal year.

Insider Activity

In other BlackRock TCP Capital news, CEO Rajneesh Vig bought 25,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average price of $9.09 per share, with a total value of $227,250.00. Following the completion of the purchase, the chief executive officer now owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. This trade represents a 23.60 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Philip M. Tseng purchased 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the acquisition, the director now owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. The trade was a 40.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 42,000 shares of company stock valued at $381,875. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Barings LLC lifted its stake in shares of BlackRock TCP Capital by 3,878.9% during the 2nd 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 in the last quarter. Transcend Capital Advisors LLC lifted its stake in BlackRock TCP Capital by 61.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock worth $8,434,000 after purchasing an additional 297,393 shares in the last quarter. Van ECK Associates Corp lifted its stake in BlackRock TCP Capital by 17.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock worth $21,205,000 after purchasing an additional 284,802 shares in the last quarter. Paloma Partners Management Co purchased a new stake in BlackRock TCP Capital in the 3rd quarter worth $608,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in BlackRock TCP Capital by 40.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock worth $2,364,000 after purchasing an additional 63,509 shares in the last quarter.

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.