BlackRock TCP Capital (NASDAQ:TCPC) Reaches New 12-Month Low – What’s Next?

BlackRock TCP Capital Corp. (NASDAQ:TCPC) hit a new 52-week low during trading on Wednesday . The company traded as low as $8.02 and last traded at $8.06, with a volume of 84278 shares trading hands. The stock had previously closed at $8.07.

Analysts Set New Price Targets

Several analysts have weighed in on TCPC shares. LADENBURG THALM/SH SH downgraded shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods dropped their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company cut shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $8.50 to $8.00 in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.00.

BlackRock TCP Capital Stock Down 0.1 %

The stock has a market capitalization of $689.86 million, a PE ratio of 23.06 and a beta of 1.47. The stock’s 50-day moving average price is $8.91 and its two-hundred day moving average price is $10.03. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. The firm had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.39 million. During the same period last year, the business earned $0.48 earnings per share. As a group, analysts expect that BlackRock TCP Capital Corp. will post 1.66 EPS for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.34 per share. The ex-dividend date was Monday, September 16th. This represents a $1.36 annualized dividend and a dividend yield of 16.87%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 388.58%.

Insiders Place Their Bets

In other BlackRock TCP Capital news, Director Philip M. Tseng bought 5,000 shares of BlackRock TCP Capital stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $9.07 per share, with a total value of $45,350.00. Following the completion of the acquisition, the director now owns 17,481 shares in the company, valued at approximately $158,552.67. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Philip M. Tseng bought 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the purchase, the director now owns 27,481 shares in the company, valued at $250,077.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Philip M. Tseng purchased 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $9.07 per share, with a total value of $45,350.00. Following the purchase, the director now directly owns 17,481 shares in the company, valued at $158,552.67. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 42,000 shares of company stock valued at $381,875. 0.16% of the stock is owned by insiders.

Institutional Trading of BlackRock TCP Capital

Several institutional investors have recently made changes to their positions in TCPC. Future Financial Wealth Managment LLC purchased a new position in shares of BlackRock TCP Capital in the third quarter worth $25,000. Register Financial Advisors LLC bought a new position in shares of BlackRock TCP Capital during the 1st quarter valued at about $26,000. International Assets Investment Management LLC purchased a new position in shares of BlackRock TCP Capital during the second quarter valued at about $60,000. Tucker Asset Management LLC purchased a new position in shares of BlackRock TCP Capital during the fourth quarter valued at about $74,000. Finally, SteelPeak Wealth LLC bought a new stake in shares of BlackRock TCP Capital in the first quarter worth about $104,000.

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.