BlackRock TCP Capital (NASDAQ:TCPC) Upgraded at StockNews.com

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

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lowered their target price on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company raised their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday. Finally, LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, BlackRock TCP Capital currently has an average rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Stock Performance

NASDAQ TCPC opened at $8.66 on Thursday. BlackRock TCP Capital has a one year low of $7.71 and a one year high of $12.43. The company has a quick ratio of 44.47, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The business has a 50 day simple moving average of $8.43 and a 200 day simple moving average of $9.72.

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

BlackRock TCP Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 20.32%. The ex-dividend date of this dividend is Tuesday, December 17th. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s dividend payout ratio is -271.99%.

Insider Activity

In related news, CEO Rajneesh Vig purchased 25,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the transaction, the chief executive officer now owns 130,930 shares in the company, valued at $1,190,153.70. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Rajneesh Vig acquired 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the purchase, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Philip M. Tseng bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $9.10 per share, with a total value of $91,000.00. Following the completion of the transaction, the director now directly owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 42,000 shares of company stock valued at $381,875 in the last ninety days. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

Several institutional investors have recently added to or reduced their stakes in TCPC. MeadowBrook Investment Advisors LLC raised its position in shares of BlackRock TCP Capital by 22.2% in the third quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock valued at $90,000 after purchasing an additional 1,970 shares during the period. Verus Capital Partners LLC purchased a new position in BlackRock TCP Capital in the 3rd quarter valued at approximately $392,000. Disciplined Investments LLC raised its holdings in BlackRock TCP Capital by 100.0% during the 3rd quarter. Disciplined Investments LLC now owns 20,000 shares of the investment management company’s stock valued at $166,000 after acquiring an additional 10,000 shares during the period. Verdence Capital Advisors LLC purchased a new stake in shares of BlackRock TCP Capital during the third quarter worth $100,000. Finally, Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of BlackRock TCP Capital by 51.9% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 85,514 shares of the investment management company’s stock worth $709,000 after acquiring an additional 29,209 shares during the period.

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.