Zacks Research Downgrades Blackrock Tcp Capital (NASDAQ:TCPC) to Hold

Blackrock Tcp Capital (NASDAQ:TCPC) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently weighed in on TCPC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Blackrock Tcp Capital in a report on Monday, December 29th. Wall Street Zen upgraded Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Finally, Wells Fargo & Company lowered their target price on Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating for the company in a research note on Monday, November 10th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $6.50.

Blackrock Tcp Capital Stock Down 2.9%

Shares of NASDAQ TCPC opened at $4.94 on Wednesday. The stock has a market cap of $419.11 million, a PE ratio of -38.00 and a beta of 0.89. The business has a fifty day moving average of $5.62 and a two-hundred day moving average of $6.16. Blackrock Tcp Capital has a 52-week low of $4.88 and a 52-week high of $9.48. The company has a debt-to-equity ratio of 1.42, a quick ratio of 14.55 and a current ratio of 14.55.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its earnings results on Thursday, November 6th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $50.52 million during the quarter, compared to the consensus estimate of $51.01 million. Blackrock Tcp Capital had a positive return on equity of 15.27% and a negative net margin of 4.20%. As a group, equities research analysts expect that Blackrock Tcp Capital will post 1.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blackrock Tcp Capital

Several large investors have recently made changes to their positions in TCPC. Next Capital Management LLC boosted its stake in Blackrock Tcp Capital by 111.6% in the 3rd quarter. Next Capital Management LLC now owns 2,401,416 shares of the investment management company’s stock worth $14,889,000 after purchasing an additional 1,266,590 shares during the period. Marshall Wace LLP acquired a new stake in shares of Blackrock Tcp Capital in the second quarter valued at approximately $4,045,000. Invesco Ltd. boosted its holdings in Blackrock Tcp Capital by 36.8% during the third quarter. Invesco Ltd. now owns 1,947,348 shares of the investment management company’s stock worth $12,074,000 after purchasing an additional 524,139 shares during the last quarter. North Ground Capital acquired a new stake in Blackrock Tcp Capital in the 3rd quarter valued at $3,100,000. Finally, Alpine Global Management LLC acquired a new stake in Blackrock Tcp Capital in the 3rd quarter valued at $1,643,000.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.