BlackRock TCP Capital (NASDAQ:TCPC) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

TCPC has been the subject of a number of other research reports. Keefe, Bruyette & Woods decreased their price objective on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, February 28th. Wells Fargo & Company lowered 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. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, BlackRock TCP Capital has an average rating of “Hold” and a consensus price target of $8.67.

BlackRock TCP Capital Trading Up 0.9 %

Shares of NASDAQ TCPC opened at $7.81 on Tuesday. The business’s 50 day moving average price is $8.82 and its 200-day moving average price is $8.73. BlackRock TCP Capital has a fifty-two week low of $7.71 and a fifty-two week high of $11.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The company has a market cap of $664.45 million, a price-to-earnings ratio of -15.62 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 12.80%. BlackRock TCP Capital’s dividend payout ratio (DPR) is -133.33%.

Insider Activity at BlackRock TCP Capital

In other news, COO Patrick Wolfe bought 6,100 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the transaction, the chief operating officer now directly owns 8,003 shares in the company, valued at approximately $64,984.36. This represents a 320.55 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

Institutional Trading of BlackRock TCP Capital

Several institutional investors and hedge funds have recently bought and sold shares of TCPC. Jane Street Group LLC raised its holdings 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 worth $302,000 after purchasing an additional 23,857 shares during the last quarter. Columbus Macro LLC purchased a new position in shares of BlackRock TCP Capital during the 4th quarter valued at about $4,177,000. GraniteShares Advisors LLC acquired a new position in shares of BlackRock TCP Capital in the 4th quarter valued at about $2,453,000. EP Wealth Advisors LLC purchased a new stake in shares of BlackRock TCP Capital in the third quarter worth about $526,000. Finally, Paloma Partners Management Co acquired a new stake in BlackRock TCP Capital during the third quarter worth about $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.