BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) has been assigned a consensus rating of "Reduce" from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $9.00.
A number of equities research analysts recently weighed in on TCPC shares. Wells Fargo & Company upped their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an "underweight" rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods cut their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a "market perform" rating for the company in a research note on Thursday, August 8th. StockNews.com raised shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, LADENBURG THALM/SH SH cut shares of BlackRock TCP Capital from a "buy" rating to a "neutral" rating in a research report on Thursday, August 8th.
Read Our Latest Stock Analysis on BlackRock TCP Capital
BlackRock TCP Capital Price Performance
BlackRock TCP Capital stock traded up $0.18 during midday trading on Friday, reaching $8.96. The company's stock had a trading volume of 612,567 shares, compared to its average volume of 506,754. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. BlackRock TCP Capital has a fifty-two week low of $7.71 and a fifty-two week high of $12.43. The firm has a market capitalization of $766.90 million, a PE ratio of -17.92 and a beta of 1.47. The stock's 50 day simple moving average is $8.39 and its 200 day simple moving average is $9.68.
BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.04). BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. The company had revenue of $70.93 million for the quarter, compared to analysts' expectations of $69.13 million. During the same period in the prior year, the firm posted $0.49 EPS. On average, equities research analysts forecast that BlackRock TCP Capital will post 1.65 earnings per share for the current year.
BlackRock TCP Capital Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This is an increase from BlackRock TCP Capital's previous quarterly dividend of $0.34. This represents a $1.76 annualized dividend and a yield of 19.64%. BlackRock TCP Capital's payout ratio is -272.00%.
Insider Buying and Selling
In related news, Director Philip M. Tseng acquired 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $9.10 per share, with a total value of $91,000.00. Following the purchase, the director now directly owns 27,481 shares of the company's stock, valued at approximately $250,077.10. This represents a 57.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajneesh Vig acquired 25,000 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were purchased at an average price of $9.09 per share, with a total value of $227,250.00. Following the completion of the acquisition, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. The trade was a 23.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 42,000 shares of company stock worth $381,875. 0.16% of the stock is owned by company insiders.
Hedge Funds Weigh In On BlackRock TCP Capital
Hedge funds and other institutional investors have recently modified their holdings of the company. Barings LLC raised its holdings in BlackRock TCP Capital by 3,878.9% in the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company's stock valued at $188,922,000 after buying an additional 17,053,151 shares during the period. Transcend Capital Advisors LLC lifted its holdings in shares of BlackRock TCP Capital by 61.5% during the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company's stock valued at $8,434,000 after acquiring an additional 297,393 shares in the last quarter. Van ECK Associates Corp boosted its position in BlackRock TCP Capital by 17.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company's stock worth $21,205,000 after purchasing an additional 284,802 shares during the period. Paloma Partners Management Co acquired a new stake in BlackRock TCP Capital in the 3rd quarter valued at $608,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in BlackRock TCP Capital by 40.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company's stock valued at $2,364,000 after purchasing an additional 63,509 shares during the period.
About BlackRock TCP Capital
(
Get Free ReportBlackRock 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.
See Also
Before you consider BlackRock TCP Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackRock TCP Capital wasn't on the list.
While BlackRock TCP Capital currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
