BlackRock TCP Capital (NASDAQ:TCPC) Shares Gap Down - What's Next?

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $9.34, but opened at $8.81. BlackRock TCP Capital shares last traded at $8.53, with a volume of 409,182 shares.

Analysts Set New Price Targets

Several research firms have weighed in on TCPC. StockNews.com upgraded shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a report on Monday, November 18th. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating for the company in a research note on Friday. Finally, Wells Fargo & Company reduced their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, BlackRock TCP Capital currently has an average rating of "Hold" and a consensus target price of $8.67.

BlackRock TCP Capital Stock Performance

The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The stock has a market cap of $710.83 million, a P/E ratio of -16.61 and a beta of 1.50. The company's 50 day moving average price is $8.97 and its 200-day moving average price is $8.81.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 12.04%. BlackRock TCP Capital's payout ratio is currently -133.33%.

Institutional Trading of BlackRock TCP Capital

A number of large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its holdings in BlackRock TCP Capital by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company's stock worth $19,186,000 after buying an additional 95,603 shares during the last quarter. Transcend Capital Advisors LLC increased its holdings in BlackRock TCP Capital by 17.2% during 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 buying an additional 209,898 shares during the last quarter. TrueMark Investments LLC purchased a new stake in BlackRock TCP Capital during the fourth quarter worth about $5,268,000. Envestnet Asset Management Inc. increased its holdings in 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 worth $4,867,000 after buying an additional 481,581 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in BlackRock TCP Capital by 3.7% during the third quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company's stock worth $4,024,000 after buying an additional 17,218 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.