A number of other analysts have also recently weighed in on TCPC. TheStreet cut shares of BlackRock TCP Capital from a b- rating to a c rating in a report on Friday, August 30th. Zacks Investment Research cut shares of BlackRock TCP Capital from a hold rating to a sell rating in a report on Tuesday, August 13th. Oppenheimer set a $16.00 target price on shares of BlackRock TCP Capital and gave the stock a buy rating in a research note on Friday, August 9th. Finally, ValuEngine cut shares of BlackRock TCP Capital from a hold rating to a sell rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $16.25.
NASDAQ:TCPC opened at $13.68 on Wednesday. BlackRock TCP Capital has a fifty-two week low of $12.52 and a fifty-two week high of $14.88. The stock has a market capitalization of $803.92 million, a P/E ratio of 8.60, a P/E/G ratio of 2.79 and a beta of 0.71. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.87 and a current ratio of 2.87. The company’s 50-day simple moving average is $13.55 and its 200-day simple moving average is $14.15.
BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Thursday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. BlackRock TCP Capital had a net margin of 14.19% and a return on equity of 11.45%. The business had revenue of $48.18 million for the quarter, compared to analysts’ expectations of $47.17 million. On average, research analysts forecast that BlackRock TCP Capital will post 1.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 10.53%. The ex-dividend date of this dividend is Friday, September 13th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 90.57%.
In related news, CEO Howard Levkowitz bought 10,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was bought at an average cost of $13.29 per share, for a total transaction of $132,900.00. Following the purchase, the chief executive officer now directly owns 135,905 shares of the company’s stock, valued at $1,806,177.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael E. Leitner bought 15,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $13.31 per share, with a total value of $199,650.00. Following the completion of the purchase, the insider now directly owns 15,065 shares in the company, valued at $200,515.15. The disclosure for this purchase can be found here. 0.63% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Advisors Capital Management LLC acquired a new stake in BlackRock TCP Capital in the 2nd quarter worth approximately $5,481,000. Invesco Ltd. raised its position in BlackRock TCP Capital by 66.0% during the 2nd quarter. Invesco Ltd. now owns 217,895 shares of the investment management company’s stock worth $3,105,000 after buying an additional 86,616 shares during the last quarter. Virtus ETF Advisers LLC purchased a new position in BlackRock TCP Capital during the 2nd quarter worth approximately $3,527,000. Grantham Mayo Van Otterloo & Co. LLC raised its position in BlackRock TCP Capital by 101.4% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 58,600 shares of the investment management company’s stock worth $835,000 after buying an additional 29,500 shares during the last quarter. Finally, Cliffwater LLC raised its position in BlackRock TCP Capital by 8.1% during the 2nd quarter. Cliffwater LLC now owns 639,211 shares of the investment management company’s stock worth $9,109,000 after buying an additional 48,018 shares during the last quarter. Institutional investors own 38.90% of the company’s stock.
BlackRock TCP Capital Company Profile
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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