BlackRock TCP Capital (NASDAQ:TCPC) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

A number of other research analysts have also recently weighed in on TCPC. Wells Fargo & Company dropped their price objective on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods decreased their target price on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.67.

BlackRock TCP Capital Trading Down 0.9 %

Shares of TCPC opened at $8.15 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The firm has a 50 day simple moving average of $8.95 and a 200-day simple moving average of $8.80. BlackRock TCP Capital has a 1-year low of $7.71 and a 1-year high of $11.52. The stock has a market cap of $697.57 million, a price-to-earnings ratio of -16.30 and a beta of 1.50.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.27%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its holdings in shares of BlackRock TCP Capital by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock valued at $19,186,000 after purchasing an additional 95,603 shares during the last quarter. Transcend Capital Advisors LLC lifted its holdings in shares of BlackRock TCP Capital by 17.2% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company’s stock valued at $12,477,000 after acquiring an additional 209,898 shares in the last quarter. TrueMark Investments LLC acquired a new position in shares of BlackRock TCP Capital during the 4th quarter valued at $5,268,000. Envestnet Asset Management Inc. lifted its holdings in shares of BlackRock TCP Capital by 623.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock valued at $4,867,000 after acquiring an additional 481,581 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of BlackRock TCP Capital by 3.7% during the 3rd quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company’s stock valued at $4,024,000 after acquiring an additional 17,218 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.