Blackrock Tcp Capital (NASDAQ:TCPC) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Blackrock Tcp Capital Corp. (NASDAQ:TCPC)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.82 and traded as high as $4.14. Blackrock Tcp Capital shares last traded at $4.08, with a volume of 478,284 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TCPC shares. Keefe, Bruyette & Woods upgraded shares of Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $3.50 to $4.00 in a research note on Friday, August 7th. Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Friday, August 28th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Blackrock Tcp Capital has an average rating of “Reduce” and a consensus target price of $3.75.

Blackrock Tcp Capital Stock Down 0.5%

The firm has a market capitalization of $340.65 million, a P/E ratio of -3.17 and a beta of 0.98. The firm’s 50 day moving average is $3.59 and its two-hundred day moving average is $3.81. The company has a debt-to-equity ratio of 1.65, a current ratio of 33.70 and a quick ratio of 33.70.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Blackrock Tcp Capital had a negative net margin of 61.27% and a positive return on equity of 13.85%. The firm had revenue of $40.02 million for the quarter, compared to analyst estimates of $38.36 million. Research analysts predict that Blackrock Tcp Capital Corp. will post 0.68 EPS for the current year.

Blackrock Tcp Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 16.7%. The ex-dividend date is Wednesday, September 16th. Blackrock Tcp Capital’s dividend payout ratio (DPR) is -53.13%.

Hedge Funds Weigh In On Blackrock Tcp Capital

A number of institutional investors have recently bought and sold shares of TCPC. Next Capital Management LLC acquired a new stake in shares of Blackrock Tcp Capital in the second quarter valued at approximately $10,518,000. Legal & General Group Plc acquired a new position in shares of Blackrock Tcp Capital during the 2nd quarter worth approximately $2,245,000. Marshall Wace LLP acquired a new position in shares of Blackrock Tcp Capital during the 2nd quarter worth approximately $4,045,000. Invesco Ltd. raised its stake in Blackrock Tcp Capital by 36.8% in the 3rd quarter. Invesco Ltd. now owns 1,947,348 shares of the investment management company’s stock valued at $12,074,000 after acquiring an additional 524,139 shares during the period. Finally, BlackRock Inc. bought a new stake in Blackrock Tcp Capital in the 2nd quarter valued at $1,540,000.

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.