BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives $9.00 Consensus PT from Analysts

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) have received an average recommendation of "Reduce" from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.00.

TCPC has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. StockNews.com upgraded BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research note on Monday, November 18th.

BlackRock TCP Capital Stock Performance

NASDAQ:TCPC traded down $0.10 during mid-day trading on Wednesday, reaching $9.39. 321,323 shares of the stock were exchanged, compared to its average volume of 500,443. 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 1 year low of $7.71 and a 1 year high of $12.43. The company has a 50 day simple moving average of $8.62 and a 200-day simple moving average of $9.50. The stock has a market capitalization of $803.70 million, a P/E ratio of -18.98 and a beta of 1.50.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The business had revenue of $70.93 million during the quarter, compared to analysts' expectations of $69.13 million. During the same quarter last year, the company earned $0.49 EPS. Analysts anticipate that BlackRock TCP Capital will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 18.74%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from BlackRock TCP Capital's previous quarterly dividend of $0.34. BlackRock TCP Capital's dividend payout ratio is -272.00%.

Insider Buying and Selling at BlackRock TCP Capital

In other news, President Jason Mehring bought 4,500 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average cost of $9.30 per share, with a total value of $41,850.00. Following the transaction, the president now owns 19,914 shares of the company's stock, valued at $185,200.20. This represents a 29.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

Several institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC acquired a new position in BlackRock TCP Capital during the 3rd quarter worth approximately $25,000. McIlrath & Eck LLC acquired a new stake in BlackRock TCP Capital during the 3rd quarter valued at $46,000. International Assets Investment Management LLC purchased a new stake in BlackRock TCP Capital during the 2nd quarter worth $60,000. Pathway Financial Advisers LLC lifted its holdings in BlackRock TCP Capital by 729.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company's stock worth $60,000 after buying an additional 6,379 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in BlackRock TCP Capital in the 3rd quarter valued at about $79,000.

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.