BlackRock TCP Capital Corp. (NASDAQ:TCPC) Given Consensus Rating of “Reduce” by Brokerages

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have received a consensus rating of “Reduce” from the six brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $9.00.

A number of analysts recently commented on TCPC shares. Keefe, Bruyette & Woods decreased their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company lifted their price objective 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. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Finally, StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th.

Insiders Place Their Bets

In other BlackRock TCP Capital news, CEO Rajneesh Vig purchased 25,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were bought at an average price of $9.09 per share, with a total value of $227,250.00. Following the completion of the acquisition, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. This represents a 23.60 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip M. Tseng bought 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the transaction, the director now owns 27,481 shares in the company, valued at $250,077.10. This trade represents a 57.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 42,000 shares of company stock valued at $381,875. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently bought and sold shares of TCPC. MeadowBrook Investment Advisors LLC raised its holdings in shares of BlackRock TCP Capital by 22.2% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock worth $90,000 after purchasing an additional 1,970 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of BlackRock TCP Capital during the 3rd quarter valued at $25,000. International Assets Investment Management LLC bought a new stake in shares of BlackRock TCP Capital during the 2nd quarter worth $60,000. Pathway Financial Advisers LLC increased its stake in BlackRock TCP Capital by 729.0% in 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 in the last quarter. Finally, Ignite Planners LLC increased its position in shares of BlackRock TCP Capital by 10.6% in the second quarter. Ignite Planners LLC now owns 73,376 shares of the investment management company’s stock worth $805,000 after acquiring an additional 7,017 shares in the last quarter.

BlackRock TCP Capital Stock Up 2.1 %

BlackRock TCP Capital stock opened at $8.96 on Friday. The stock has a market capitalization of $766.89 million, a price-to-earnings ratio of -17.92 and a beta of 1.47. 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 stock has a 50 day moving average of $8.39 and a two-hundred day moving average of $9.68. BlackRock TCP Capital has a twelve month low of $7.71 and a twelve month high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $70.93 million for 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 last year, the company posted $0.49 earnings per share. As a group, research analysts expect that BlackRock TCP Capital will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 19.64%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, December 17th. BlackRock TCP Capital’s payout ratio is -271.99%.

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.