BlackRock Capital Investment (NASDAQ:BKCC) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of BlackRock Capital Investment (NASDAQ:BKCC) from a buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “BlackRock Kelso Capital Corporation provides responsive, creative and flexible capital solutions to middle-market companies. BlackRock Kelso Capital provides middle-market companies with flexible financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities. The Companies strategy is to provide capital to meet our clients’ current and future needs across this spectrum, creating long-term partnerships with growing middle-market companies. “

Separately, Wells Fargo & Company lifted their price target on BlackRock Capital Investment from $4.00 to $4.25 and gave the company an overweight rating in a research report on Monday, August 9th.

BKCC opened at $3.86 on Monday. BlackRock Capital Investment has a 12 month low of $2.32 and a 12 month high of $4.47. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $286.03 million, a P/E ratio of 11.70 and a beta of 1.79. The stock’s 50 day moving average price is $4.03 and its 200 day moving average price is $3.90.

BlackRock Capital Investment (NASDAQ:BKCC) last posted its earnings results on Thursday, August 5th. The asset manager reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. BlackRock Capital Investment had a return on equity of 7.70% and a net margin of 59.49%. The firm had revenue of $10.86 million for the quarter. Equities analysts anticipate that BlackRock Capital Investment will post 0.29 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 6th. Stockholders of record on Wednesday, September 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 10.36%. The ex-dividend date is Tuesday, September 14th. BlackRock Capital Investment’s dividend payout ratio is presently 81.63%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BKCC. HighTower Advisors LLC bought a new stake in shares of BlackRock Capital Investment during the 1st quarter worth $204,000. Condor Capital Management boosted its stake in shares of BlackRock Capital Investment by 114.3% during the 1st quarter. Condor Capital Management now owns 190,186 shares of the asset manager’s stock worth $637,000 after acquiring an additional 101,456 shares in the last quarter. Ares Management LLC boosted its position in shares of BlackRock Capital Investment by 76.9% in the first quarter. Ares Management LLC now owns 4,233,886 shares of the asset manager’s stock worth $14,184,000 after buying an additional 1,840,002 shares during the period. Citadel Advisors LLC acquired a new stake in shares of BlackRock Capital Investment in the first quarter worth $113,000. Finally, Millennium Management LLC boosted its position in shares of BlackRock Capital Investment by 97.1% in the first quarter. Millennium Management LLC now owns 381,724 shares of the asset manager’s stock worth $1,279,000 after buying an additional 188,030 shares during the period. 28.80% of the stock is owned by institutional investors and hedge funds.

About BlackRock Capital Investment

BlackRock Capital Investment Corp, a Traded Fund, seeks investment opportunities in middle market companies located in the US and Canada with revenues of $50 million to $1 billion. The fund targets companies operating in the field of consumer services, technology, distribution, commercial services, Health services, Retail trade, Finance, Transportation.

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