Brokerages Set BlackRock TCP Capital Corp. (NASDAQ:TCPC) Target Price at $9.00

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) has been given a consensus recommendation of "Reduce" by the six research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.00.

Several equities research analysts recently commented on TCPC shares. 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 note on Thursday, November 7th. StockNews.com raised shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Monday, November 18th.

BlackRock TCP Capital Stock Down 0.3 %

TCPC stock traded down $0.03 during midday trading on Friday, reaching $8.84. The company had a trading volume of 372,703 shares, compared to its average volume of 462,302. The company has a 50 day moving average of $8.83 and a two-hundred day moving average of $9.21. The company has a current ratio of 39.37, a quick 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 $11.99. The company has a market capitalization of $756.62 million, a P/E ratio of -17.68 and a beta of 1.50.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $70.93 million for the quarter, compared to analysts' expectations of $69.13 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. On average, equities research analysts expect 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 was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a yield of 19.91%. This is a boost from BlackRock TCP Capital's previous quarterly dividend of $0.34. BlackRock TCP Capital's dividend payout ratio is presently -272.00%.

Insider Activity

In other BlackRock TCP Capital news, President Jason Mehring purchased 4,500 shares of the stock in a transaction dated Wednesday, November 27th. The shares were bought at an average cost of $9.30 per share, with a total value of $41,850.00. Following the completion of the transaction, the president now owns 19,914 shares in the company, valued at $185,200.20. This trade represents a 29.19 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Institutional Trading of BlackRock TCP Capital

Several hedge funds have recently added to or reduced their stakes in TCPC. Wilmington Savings Fund Society FSB acquired a new position in shares of BlackRock TCP Capital during the third quarter worth approximately $224,000. McIlrath & Eck LLC bought a new position in BlackRock TCP Capital during the third quarter worth $46,000. Y Intercept Hong Kong Ltd raised its stake in BlackRock TCP Capital by 190.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 71,075 shares of the investment management company's stock valued at $589,000 after purchasing an additional 46,595 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in BlackRock TCP Capital in the 3rd quarter valued at $526,000. Finally, Jane Street Group LLC grew its position in BlackRock TCP Capital by 189.3% in the 3rd quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company's stock worth $302,000 after purchasing an additional 23,857 shares during the last quarter.

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.