BlackRock TCP Capital (NASDAQ:TCPC) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a buy rating in a report issued on Thursday.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an “underweight” rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price on BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating for the company in a research note on Tuesday, April 8th.

BlackRock TCP Capital Stock Down 0.8%

Shares of NASDAQ:TCPC opened at $7.55 on Thursday. The stock has a 50-day simple moving average of $7.24 and a 200-day simple moving average of $8.32. The stock has a market capitalization of $642.04 million, a P/E ratio of -15.10 and a beta of 1.03. BlackRock TCP Capital has a 1 year low of $6.27 and a 1 year high of $11.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Thursday, May 8th. The investment management company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The firm had revenue of $55.89 million for the quarter, compared to analysts’ expectations of $57.95 million. Equities analysts forecast that BlackRock TCP Capital will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.25 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 13.25%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -172.41%.

Insider Activity at BlackRock TCP Capital

In other news, CEO Philip M. Tseng acquired 10,000 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was bought at an average cost of $7.74 per share, with a total value of $77,400.00. Following the transaction, the chief executive officer now directly owns 38,587 shares in the company, valued at approximately $298,663.38. This represents a 34.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Patrick Wolfe bought 6,100 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the transaction, the chief operating officer now owns 8,003 shares of the company’s stock, valued at approximately $64,984.36. The trade was a 320.55% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 18,500 shares of company stock valued at $146,444. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On BlackRock TCP Capital

Hedge funds and other institutional investors have recently bought and sold shares of the business. Avior Wealth Management LLC acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter worth approximately $38,000. Tower Research Capital LLC TRC grew its holdings 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 worth $48,000 after acquiring an additional 3,508 shares in the last quarter. Transce3nd LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter worth about $70,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of BlackRock TCP Capital in the 1st quarter valued at about $81,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of BlackRock TCP Capital by 27.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company’s stock valued at $82,000 after purchasing an additional 2,200 shares in the last quarter.

About BlackRock TCP Capital

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.