Wells Fargo & Company Lowers BlackRock TCP Capital (NASDAQ:TCPC) Price Target to $7.50

BlackRock TCP Capital (NASDAQ:TCPC) had its price objective reduced by Wells Fargo & Company from $8.00 to $7.50 in a research report report published on Friday,Benzinga reports. They currently have an underweight rating on the investment management company’s stock.

TCPC has been the topic of a number of other research reports. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Keefe, Bruyette & Woods lowered their price objective on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.67.

BlackRock TCP Capital Price Performance

NASDAQ TCPC opened at $8.44 on Friday. The stock has a market capitalization of $722.39 million, a price-to-earnings ratio of -16.88 and a beta of 1.50. BlackRock TCP Capital has a 1-year low of $7.71 and a 1-year high of $11.52. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The business’s fifty day moving average price is $8.97 and its 200-day moving average price is $8.81.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.85%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is presently -272.00%.

Institutional Trading of BlackRock TCP Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in BlackRock TCP Capital by 729.0% in the 3rd quarter. International Assets Investment Management LLC now owns 46,374 shares of the investment management company’s stock worth $3,840,000 after acquiring an additional 40,780 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of BlackRock TCP Capital in the third quarter worth approximately $431,000. Van ECK Associates Corp increased its stake in shares of BlackRock TCP Capital by 7.3% in the third quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock worth $17,257,000 after purchasing an additional 143,667 shares in the last quarter. Global Wealth Management Investment Advisory Inc. increased its stake 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 purchasing an additional 29,209 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in shares of BlackRock TCP Capital during the 3rd quarter valued at $100,000.

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.