Zacks Investment Research Lowers BlackRock TCP Capital (NASDAQ:TCPC) to Sell

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Zacks Investment Research cut shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “BlackRock TCP Capital Corp. is an externally-managed non-diversified closed-end management investment company. It focused on middle-market lending. BlackRock TCP Capital Corp., formerly known as TCP Capital Corp., is headquartered in Santa Monica, CA. “

A number of other research firms also recently weighed in on TCPC. ValuEngine downgraded shares of BlackRock TCP Capital from a hold rating to a sell rating in a report on Wednesday, July 24th. BidaskClub upgraded shares of BlackRock TCP Capital from a strong sell rating to a sell rating in a report on Friday, August 2nd. National Securities restated a buy rating and issued a $18.00 target price on shares of BlackRock TCP Capital in a report on Monday, May 13th. TheStreet upgraded shares of BlackRock TCP Capital from a c+ rating to a b rating in a report on Tuesday, May 28th. Finally, Oppenheimer set a $16.00 target price on shares of BlackRock TCP Capital and gave the stock a buy rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $16.30.

BlackRock TCP Capital stock opened at $13.16 on Tuesday. The company’s 50-day moving average price is $14.04 and its 200-day moving average price is $14.34. BlackRock TCP Capital has a twelve month low of $12.52 and a twelve month high of $14.88. The company has a quick ratio of 3.75, a current ratio of 2.87 and a debt-to-equity ratio of 1.13. The company has a market cap of $785.70 million, a PE ratio of 8.20, a price-to-earnings-growth ratio of 2.78 and a beta of 0.70.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its earnings results on Thursday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. BlackRock TCP Capital had a net margin of 14.19% and a return on equity of 11.45%. The firm had revenue of $48.18 million for the quarter, compared to the consensus estimate of $47.17 million. As a group, sell-side analysts expect that BlackRock TCP Capital will post 1.6 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, September 13th. This represents a $1.44 annualized dividend and a yield of 10.94%. BlackRock TCP Capital’s payout ratio is 90.57%.

A number of large investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its holdings in BlackRock TCP Capital by 82.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,412,570 shares of the investment management company’s stock valued at $20,030,000 after purchasing an additional 639,240 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in BlackRock TCP Capital by 3.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,056,953 shares of the investment management company’s stock valued at $14,988,000 after buying an additional 36,175 shares during the period. Confluence Investment Management LLC boosted its position in BlackRock TCP Capital by 4.8% in the 1st quarter. Confluence Investment Management LLC now owns 855,825 shares of the investment management company’s stock valued at $12,135,000 after buying an additional 39,556 shares during the period. Cliffwater LLC boosted its position in BlackRock TCP Capital by 8.1% in the 2nd quarter. Cliffwater LLC now owns 639,211 shares of the investment management company’s stock valued at $9,109,000 after buying an additional 48,018 shares during the period. Finally, LSV Asset Management boosted its position in BlackRock TCP Capital by 3.0% in the 2nd quarter. LSV Asset Management now owns 585,130 shares of the investment management company’s stock valued at $8,338,000 after buying an additional 17,200 shares during the period. Institutional investors own 41.93% of the company’s stock.

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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