BlackRock TCP Capital (NASDAQ:TCPC) Stock Passes Above 200 Day Moving Average – Here’s Why

BlackRock TCP Capital Corp. (NASDAQ:TCPC) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.85 and traded as high as $9.16. BlackRock TCP Capital shares last traded at $9.15, with a volume of 314,956 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company lifted their target price on 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 stock. According to data from MarketBeat, BlackRock TCP Capital presently has an average rating of “Hold” and a consensus price target of $9.00.

BlackRock TCP Capital Stock Performance

The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The stock’s 50 day moving average price is $8.94 and its 200 day moving average price is $8.85. The company has a market capitalization of $783.15 million, a price-to-earnings ratio of -18.30 and a beta of 1.50.

Insider Buying and Selling at BlackRock TCP Capital

In other news, President Jason Mehring bought 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average cost of $9.30 per share, for a total transaction of $41,850.00. Following the purchase, the president now owns 19,914 shares of the company’s stock, valued at approximately $185,200.20. This trade represents a 29.19 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of BlackRock TCP Capital

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC boosted its holdings in shares of BlackRock TCP Capital by 189.3% during the 3rd quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock worth $302,000 after buying an additional 23,857 shares during the period. Columbus Macro LLC bought a new stake in shares of BlackRock TCP Capital during the fourth quarter worth approximately $4,177,000. EP Wealth Advisors LLC acquired a new position in shares of BlackRock TCP Capital in the third quarter valued at approximately $526,000. Paloma Partners Management Co bought a new position in shares of BlackRock TCP Capital during the third quarter worth approximately $608,000. Finally, Van ECK Associates Corp lifted its holdings in shares of BlackRock TCP Capital by 7.3% during the third quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock worth $17,257,000 after buying an additional 143,667 shares in the last quarter.

About BlackRock TCP Capital

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.