Blackrock Tcp Capital (NASDAQ:TCPC) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Blackrock Tcp Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a report issued on Saturday morning.

Several other brokerages have also recently issued reports on TCPC. Wells Fargo & Company reduced their price objective on Blackrock Tcp Capital from $5.50 to $3.50 and set an “underweight” rating on the stock in a research note on Monday, March 2nd. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $3.50 target price (down from $7.00) on shares of Blackrock Tcp Capital in a research note on Tuesday, March 3rd. Finally, Zacks Research cut Blackrock Tcp Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $3.50.

Blackrock Tcp Capital Stock Performance

Shares of TCPC opened at $4.15 on Friday. The business’s fifty day moving average price is $3.93 and its 200 day moving average price is $4.91. Blackrock Tcp Capital has a 12-month low of $3.43 and a 12-month high of $8.06. The stock has a market capitalization of $348.19 million, a PE ratio of -2.79 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a current ratio of 21.44 and a quick ratio of 21.44.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Thursday, May 7th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. Blackrock Tcp Capital had a positive return on equity of 14.30% and a negative net margin of 66.92%.The firm had revenue of $42.58 million for the quarter, compared to analysts’ expectations of $40.10 million. Equities research analysts forecast that Blackrock Tcp Capital will post 0.83 EPS for the current year.

Blackrock Tcp Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 16.4%. The ex-dividend date of this dividend is Tuesday, June 16th. Blackrock Tcp Capital’s payout ratio is presently -45.64%.

Insider Transactions at Blackrock Tcp Capital

In other news, COO Patrick Wolfe bought 6,850 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $3.65 per share, with a total value of $25,002.50. Following the completion of the acquisition, the chief operating officer directly owned 16,086 shares in the company, valued at approximately $58,713.90. The trade was a 74.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. North Ground Capital purchased a new position in Blackrock Tcp Capital in the 3rd quarter worth about $3,100,000. Next Capital Management LLC increased 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 in the last quarter. Alpine Global Management LLC purchased a new position in Blackrock Tcp Capital in the 3rd quarter worth about $1,643,000. Barings LLC increased its stake in Blackrock Tcp Capital by 12.6% in the 4th quarter. Barings LLC now owns 540,615 shares of the investment management company’s stock worth $2,957,000 after purchasing an additional 60,293 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Blackrock Tcp Capital by 8.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 452,874 shares of the investment management company’s stock worth $2,477,000 after purchasing an additional 34,883 shares in the last quarter.

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.