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

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

Other research analysts also recently issued reports about the company. Wells Fargo & Company reduced their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.33.

BlackRock TCP Capital Trading Down 0.3 %

Shares of BlackRock TCP Capital stock opened at $6.55 on Friday. The stock has a market capitalization of $557.25 million, a P/E ratio of -13.10 and a beta of 1.21. BlackRock TCP Capital has a 12-month low of $6.27 and a 12-month high of $11.52. 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 company has a 50-day simple moving average of $8.17 and a 200 day simple moving average of $8.53.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 15.27%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is currently -133.33%.

Insiders Place Their Bets

In other news, COO Patrick Wolfe bought 6,100 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was bought 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 $64,984.36. The trade was a 320.55 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Philip M. Tseng purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the acquisition, the chief executive officer now owns 38,587 shares of the company’s stock, valued at $298,663.38. The trade was a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 18,500 shares of company stock valued at $146,444. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackRock TCP Capital

Several institutional investors and hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC bought a new position in shares of BlackRock TCP Capital in the 4th quarter worth $38,000. McIlrath & Eck LLC acquired a new position in BlackRock TCP Capital in the third quarter valued at about $46,000. Tower Research Capital LLC TRC boosted its holdings in BlackRock TCP Capital by 177.2% during the fourth 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 during the last quarter. Transce3nd LLC acquired a new position in shares of BlackRock TCP Capital during the 4th quarter worth about $70,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at approximately $84,000.

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.