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

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

TCPC has been the topic of a number of other reports. Wells Fargo & Company dropped their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday, February 28th. 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 research note on Friday, February 28th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, BlackRock TCP Capital has an average rating of “Hold” and a consensus price target of $8.67.

BlackRock TCP Capital Stock Up 1.1 %

Shares of NASDAQ TCPC opened at $8.01 on Thursday. BlackRock TCP Capital has a 1 year low of $7.67 and a 1 year high of $11.52. The company has a market capitalization of $681.47 million, a price-to-earnings ratio of -16.02 and a beta of 1.55. 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 business has a 50-day moving average of $8.73 and a two-hundred day moving average of $8.67.

Insider Activity at BlackRock TCP Capital

In related news, COO Patrick Wolfe purchased 6,100 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $8.12 per share, with a total value of $49,532.00. Following the completion of the acquisition, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. This trade represents a 320.55 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Philip M. Tseng acquired 10,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was purchased at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the purchase, the chief executive officer now directly owns 38,587 shares in the company, valued at $298,663.38. This trade represents a 34.98 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 18,500 shares of company stock worth $146,444 in the last 90 days. 0.16% of the stock is owned by insiders.

Institutional Trading of BlackRock TCP Capital

Several hedge funds have recently made changes to their positions in TCPC. Avior Wealth Management LLC acquired a new position in shares of BlackRock TCP Capital during the fourth quarter worth about $38,000. McIlrath & Eck LLC acquired a new position in BlackRock TCP Capital during the 3rd quarter worth approximately $46,000. Tower Research Capital LLC TRC raised its stake in shares of BlackRock TCP Capital by 177.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after buying an additional 3,508 shares in the last quarter. Transce3nd LLC purchased a new position in shares of BlackRock TCP Capital during the 4th quarter worth approximately $70,000. Finally, Quantbot Technologies LP acquired a new stake in shares of BlackRock TCP Capital in the 3rd quarter valued at approximately $79,000.

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.