Keefe, Bruyette & Woods Has Lowered Expectations for BlackRock TCP Capital (NASDAQ:TCPC) Stock Price

BlackRock TCP Capital (NASDAQ:TCPC) had its price objective reduced by analysts at Keefe, Bruyette & Woods from $9.00 to $8.50 in a report issued on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 0.71% from the company’s current price.

TCPC has been the subject of a number of other reports. Wells Fargo & Company raised their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, BlackRock TCP Capital has an average rating of “Hold” and an average target price of $8.67.

BlackRock TCP Capital Price Performance

Shares of BlackRock TCP Capital stock opened at $8.44 on Friday. The company has a market capitalization of $722.39 million, a price-to-earnings ratio of -16.88 and a beta of 1.50. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The stock’s 50-day simple moving average is $8.97 and its 200-day simple moving average is $8.81. BlackRock TCP Capital has a 52 week low of $7.71 and a 52 week high of $11.52.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in TCPC. Jane Street Group LLC lifted its stake in BlackRock TCP Capital by 189.3% in the third quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock worth $302,000 after acquiring an additional 23,857 shares during the period. Columbus Macro LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at about $4,177,000. EP Wealth Advisors LLC purchased a new stake in shares of BlackRock TCP Capital in the 3rd quarter worth approximately $526,000. GraniteShares Advisors LLC bought a new position in shares of BlackRock TCP Capital during the fourth quarter valued at approximately $2,453,000. Finally, Paloma Partners Management Co purchased a new position in BlackRock TCP Capital during the third quarter valued at approximately $608,000.

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.