BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives Average Rating of “Reduce” from Analysts

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have been assigned an average recommendation of “Reduce” from the six brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $9.00.

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company boosted their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th.

Insider Activity

In other BlackRock TCP Capital news, President Jason Mehring acquired 4,500 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average price of $9.30 per share, with a total value of $41,850.00. Following the completion of the transaction, the president now directly owns 19,914 shares in the company, valued at $185,200.20. This trade represents a 29.19 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On BlackRock TCP Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC bought a new position in shares of BlackRock TCP Capital in the 3rd quarter valued at about $25,000. McIlrath & Eck LLC bought a new position in BlackRock TCP Capital in the third quarter valued at approximately $46,000. Pathway Financial Advisers LLC increased its position in shares of BlackRock TCP Capital by 729.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after purchasing an additional 6,379 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $79,000. Finally, Disciplined Investments LLC acquired a new stake in shares of BlackRock TCP Capital in the 2nd quarter valued at approximately $108,000.

BlackRock TCP Capital Trading Down 1.2 %

NASDAQ TCPC opened at $8.52 on Friday. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $11.99. The stock has a 50-day simple moving average of $8.88 and a 200 day simple moving average of $9.15. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $729.24 million, a PE ratio of -17.04 and a beta of 1.50.

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

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.44 dividend. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, December 17th. This represents a $1.76 annualized dividend and a dividend yield of 20.66%. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently -272.00%.

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.