BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives $9.00 Average Target Price from Brokerages

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has received a consensus rating of “Reduce” from the six analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $9.00.

A number of equities research analysts have recently weighed in on TCPC shares. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. 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.

BlackRock TCP Capital Trading Down 1.3 %

Shares of NASDAQ TCPC opened at $8.63 on Friday. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $11.99. The company has a market cap of $738.65 million, a price-to-earnings ratio of -17.26 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 business has a fifty day simple moving average of $8.85 and a 200-day simple moving average of $9.18.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). The business had revenue of $70.93 million during the quarter, compared to analysts’ expectations of $69.13 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. During the same period in the prior year, the company posted $0.49 earnings per share. Sell-side analysts predict that BlackRock TCP Capital will post 1.65 EPS for the current year.

BlackRock TCP Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.44 per share. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 20.39%. BlackRock TCP Capital’s dividend payout ratio is currently -272.00%.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, President Jason Mehring bought 4,500 shares of the stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of $9.30 per share, with a total value of $41,850.00. Following the acquisition, the president now directly owns 19,914 shares of the company’s stock, valued at $185,200.20. This represents a 29.19 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Trading of BlackRock TCP Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barings LLC grew its holdings in shares of BlackRock TCP Capital by 3,878.9% during the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after purchasing an additional 17,053,151 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $526,000. Paloma Partners Management Co acquired a new stake in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $608,000. Van ECK Associates Corp lifted its position in shares of BlackRock TCP Capital by 7.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock worth $17,257,000 after buying an additional 143,667 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its stake in BlackRock TCP Capital by 91.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 29,877 shares of the investment management company’s stock valued at $248,000 after buying an additional 14,245 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.