Analysts Set BlackRock TCP Capital Corp (TCPC) Price Target at $16.90

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BlackRock TCP Capital Corp (NASDAQ:TCPC) has been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $17.13.

A number of equities analysts have weighed in on the company. Zacks Investment Research lowered BlackRock TCP Capital from a “buy” rating to a “hold” rating in a research note on Saturday. National Securities restated a “buy” rating and issued a $19.00 target price on shares of BlackRock TCP Capital in a research note on Monday, August 13th. BidaskClub upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. JMP Securities cut their price objective on BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a report on Tuesday, August 28th. Finally, Wells Fargo & Co cut their price objective on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, October 4th.

In other news, COO Rajneesh Vig acquired 7,000 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was purchased at an average cost of $13.92 per share, for a total transaction of $97,440.00. Following the acquisition, the chief operating officer now owns 39,750 shares of the company’s stock, valued at $553,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen A. Corbet acquired 3,000 shares of the business’s stock in a transaction dated Friday, November 30th. The stock was purchased at an average price of $14.36 per share, with a total value of $43,080.00. Following the completion of the acquisition, the director now directly owns 9,000 shares in the company, valued at approximately $129,240. The disclosure for this purchase can be found here. Insiders bought a total of 21,725 shares of company stock valued at $304,044 over the last quarter. Company insiders own 0.55% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its holdings in shares of BlackRock TCP Capital by 70.2% in the 2nd quarter. GSA Capital Partners LLP now owns 153,386 shares of the investment management company’s stock worth $2,216,000 after purchasing an additional 63,286 shares in the last quarter. BlueMountain Capital Management LLC boosted its holdings in BlackRock TCP Capital by 38.0% during the 2nd quarter. BlueMountain Capital Management LLC now owns 45,258 shares of the investment management company’s stock valued at $654,000 after acquiring an additional 12,453 shares during the period. Stock Yards Bank & Trust Co. purchased a new stake in BlackRock TCP Capital during the 3rd quarter valued at about $170,000. State Treasurer State of Michigan purchased a new stake in BlackRock TCP Capital during the 3rd quarter valued at about $342,000. Finally, California Public Employees Retirement System lifted its holdings in BlackRock TCP Capital by 38.6% in the 2nd quarter. California Public Employees Retirement System now owns 109,900 shares of the investment management company’s stock worth $1,588,000 after buying an additional 30,600 shares during the period. Hedge funds and other institutional investors own 45.58% of the company’s stock.

NASDAQ TCPC traded up $0.11 during trading on Monday, reaching $14.25. The company’s stock had a trading volume of 390,436 shares, compared to its average volume of 332,585. The firm has a market capitalization of $831.28 million, a P/E ratio of 7.16, a P/E/G ratio of 1.77 and a beta of 0.70. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.90. BlackRock TCP Capital has a one year low of $13.71 and a one year high of $15.90.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Thursday, November 8th. The investment management company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $49.48 million for the quarter, compared to analyst estimates of $48.06 million. BlackRock TCP Capital had a return on equity of 11.56% and a net margin of 31.79%. As a group, research analysts anticipate that BlackRock TCP Capital will post 1.6 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.11%. The ex-dividend date of this dividend is Friday, December 14th. BlackRock TCP Capital’s payout ratio is currently 72.36%.

About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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