Other equities analysts have also recently issued research reports about the company. JMP Securities reduced their target price on BlackRock TCP Capital from $14.50 to $10.50 and set a “market outperform” rating on the stock in a report on Friday, May 15th. Keefe, Bruyette & Woods cut BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 31st. Wells Fargo & Co restated a “hold” rating and set a $9.50 target price on shares of BlackRock TCP Capital in a report on Monday, April 27th. ValuEngine upgraded BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 14th. Finally, Deutsche Bank reduced their target price on BlackRock TCP Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.30.
BlackRock TCP Capital stock opened at $9.91 on Wednesday. The business’s 50-day simple moving average is $7.99 and its 200 day simple moving average is $11.76. The stock has a market cap of $575.94 million, a price-to-earnings ratio of -9.32 and a beta of 1.53. BlackRock TCP Capital has a 12-month low of $4.02 and a 12-month high of $14.79. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.42.
BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Monday, May 11th. The investment management company reported ($2.74) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($3.11). The firm had revenue of $41.25 million during the quarter, compared to the consensus estimate of $45.37 million. BlackRock TCP Capital had a negative net margin of 33.37% and a positive return on equity of 12.22%. As a group, sell-side analysts expect that BlackRock TCP Capital will post 1.28 EPS for the current year.
In other BlackRock TCP Capital news, COO Rajneesh Vig bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were bought at an average price of $8.31 per share, for a total transaction of $83,100.00. Following the transaction, the chief operating officer now directly owns 59,750 shares in the company, valued at $496,522.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paul L. Davis bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average price of $12.43 per share, for a total transaction of $37,290.00. Following the transaction, the chief financial officer now owns 22,500 shares in the company, valued at $279,675. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 24,500 shares of company stock valued at $249,175. Insiders own 0.71% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Barnett & Company Inc. bought a new position in shares of BlackRock TCP Capital in the first quarter worth $28,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in BlackRock TCP Capital during the first quarter valued at about $29,000. Verus Capital Partners LLC raised its position in BlackRock TCP Capital by 37.2% during the first quarter. Verus Capital Partners LLC now owns 10,243 shares of the investment management company’s stock valued at $64,000 after purchasing an additional 2,777 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in BlackRock TCP Capital during the first quarter valued at about $66,000. Finally, Steward Partners Investment Advisory LLC raised its position in BlackRock TCP Capital by 40.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 10,999 shares of the investment management company’s stock valued at $68,000 after purchasing an additional 3,153 shares in the last quarter. 31.24% of the stock is owned by institutional investors.
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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