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

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

A number of other analysts also recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company decreased their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, BlackRock TCP Capital presently has a consensus rating of “Hold” and a consensus price target of $8.67.

BlackRock TCP Capital Trading Down 0.2 %

Shares of BlackRock TCP Capital stock opened at $7.99 on Thursday. 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 firm has a market cap of $679.77 million, a price-to-earnings ratio of -15.98 and a beta of 1.55. BlackRock TCP Capital has a twelve month low of $7.67 and a twelve month high of $11.52. The business has a 50-day moving average price of $8.69 and a 200-day moving average price of $8.66.

Insider Transactions at BlackRock TCP Capital

In other news, CEO Philip M. Tseng purchased 10,000 shares of the business’s stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of $7.74 per share, with a total value of $77,400.00. Following the completion of the acquisition, the chief executive officer now owns 38,587 shares of the company’s stock, valued at $298,663.38. This trade represents a 34.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Patrick Wolfe bought 6,100 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost 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 $64,984.36. This represents a 320.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 18,500 shares of company stock worth $146,444. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter worth approximately $38,000. Tower Research Capital LLC TRC increased its holdings in BlackRock TCP Capital by 177.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after buying an additional 3,508 shares in the last quarter. McIlrath & Eck LLC acquired a new position in shares of BlackRock TCP Capital in the third quarter worth about $46,000. Transce3nd LLC purchased a new stake in shares of BlackRock TCP Capital during the 4th quarter worth about $70,000. Finally, Quantbot Technologies LP purchased a new stake in shares of BlackRock TCP Capital during the 3rd quarter worth about $79,000.

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.