BlackRock TCP Capital (NASDAQ:TCPC) Raised to Hold at StockNews.com

BlackRock TCP Capital (NASDAQ:TCPC) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Other analysts have also recently issued research reports about the company. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company raised their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.00.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC opened at $9.02 on Monday. The firm’s 50-day moving average price is $8.39 and its 200-day moving average price is $9.66. BlackRock TCP Capital has a 52-week low of $7.71 and a 52-week high of $12.43. The company has a market cap of $772.02 million, a PE ratio of -18.04 and a beta of 1.47. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). The company had revenue of $70.93 million during the quarter, compared to analysts’ expectations of $69.13 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. During the same quarter in the prior year, the business posted $0.49 EPS. As a group, analysts anticipate that BlackRock TCP Capital will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other BlackRock TCP Capital news, CEO Rajneesh Vig bought 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the transaction, the chief executive officer now owns 130,930 shares of the company’s stock, valued at $1,190,153.70. This trade represents a 23.60 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Philip M. Tseng purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the acquisition, the director now owns 27,481 shares in the company, valued at $250,077.10. This represents a 57.20 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 42,000 shares of company stock worth $381,875 over the last three months. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of institutional investors have recently added to or reduced their stakes in TCPC. McIlrath & Eck LLC bought a new position in shares of BlackRock TCP Capital during the third quarter worth $46,000. Y Intercept Hong Kong Ltd lifted its stake in BlackRock TCP Capital by 190.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 71,075 shares of the investment management company’s stock worth $589,000 after purchasing an additional 46,595 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of BlackRock TCP Capital during the 3rd quarter valued at about $526,000. Jane Street Group LLC grew its position in shares of BlackRock TCP Capital by 189.3% during the third quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock valued at $302,000 after purchasing an additional 23,857 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in shares of BlackRock TCP Capital in the third quarter worth about $258,000.

BlackRock TCP Capital Company Profile

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.