BlackRock TCP Capital (NASDAQ:TCPC) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a report released on Saturday morning.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, BlackRock TCP Capital currently has an average rating of “Hold” and an average price target of $8.33.

BlackRock TCP Capital Stock Down 1.9 %

TCPC stock opened at $6.57 on Friday. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a 52 week low of $6.27 and a 52 week high of $11.52. The stock has a market capitalization of $558.96 million, a PE ratio of -13.14 and a beta of 1.21. The firm has a 50 day moving average of $8.22 and a 200 day moving average of $8.54.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 15.22%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

Insider Buying and Selling at BlackRock TCP Capital

In related news, CEO Philip M. Tseng acquired 10,000 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $7.74 per share, with a total value of $77,400.00. Following the acquisition, the chief executive officer now directly owns 38,587 shares in the company, valued at $298,663.38. This represents a 34.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Patrick Wolfe bought 6,100 shares of the stock in a transaction dated Friday, March 14th. The stock was bought at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares of the company’s stock, valued at approximately $64,984.36. The trade was a 320.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 18,500 shares of company stock valued at $146,444. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors have recently made changes to their positions in TCPC. Avior Wealth Management LLC purchased a new stake in BlackRock TCP Capital during the fourth quarter worth $38,000. McIlrath & Eck LLC acquired a new position in shares of BlackRock TCP Capital in the third quarter worth about $46,000. Tower Research Capital LLC TRC boosted its stake in shares of BlackRock TCP Capital by 177.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after acquiring an additional 3,508 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at about $70,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at about $84,000.

BlackRock TCP Capital Company Profile

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.