BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives Consensus Recommendation of "Reduce" from Brokerages

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) have received an average recommendation of "Reduce" from the four brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $8.67.

A number of analysts recently issued reports on TCPC shares. Wells Fargo & Company lowered their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating for the company in a report on Friday. StockNews.com upgraded BlackRock TCP Capital from a "sell" rating to a "hold" rating in a report on Monday, November 18th. Finally, Keefe, Bruyette & Woods cut their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating on the stock in a research note on Friday.

Institutional Trading of BlackRock TCP Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in shares of BlackRock TCP Capital by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company's stock worth $19,186,000 after acquiring an additional 95,603 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in BlackRock TCP Capital by 17.2% in the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company's stock worth $12,477,000 after purchasing an additional 209,898 shares in the last quarter. TrueMark Investments LLC purchased a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at about $5,268,000. Envestnet Asset Management Inc. lifted its position in shares of BlackRock TCP Capital by 623.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock valued at $4,867,000 after buying an additional 481,581 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of BlackRock TCP Capital by 3.7% in the 3rd quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company's stock valued at $4,024,000 after buying an additional 17,218 shares in the last quarter.

BlackRock TCP Capital Trading Down 1.1 %

BlackRock TCP Capital stock traded down $0.10 during trading hours on Friday, hitting $8.35. The company had a trading volume of 502,198 shares, compared to its average volume of 551,864. The firm has a market cap of $714.26 million, a P/E ratio of -16.66 and a beta of 1.50. The company has a 50-day moving average price of $8.97 and a two-hundred day moving average price of $8.81. BlackRock TCP Capital has a 1 year low of $7.71 and a 1 year high of $11.52. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 11.98%. The ex-dividend date is Monday, March 17th. BlackRock TCP Capital's dividend payout ratio (DPR) is -133.33%.

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.