BlackRock TCP Capital (NASDAQ:TCPC) Shares Cross Above 200 Day Moving Average - Here's What Happened

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.85 and traded as high as $9.16. BlackRock TCP Capital shares last traded at $9.15, with a volume of 314,956 shares.

Analyst Ratings Changes

Several analysts have issued reports on TCPC shares. StockNews.com raised BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their target price 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. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $9.00.

BlackRock TCP Capital Trading Up 1.3 %

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 firm has a fifty day moving average price of $8.94 and a 200 day moving average price of $8.84. The company has a market cap of $805.40 million, a price-to-earnings ratio of -18.82 and a beta of 1.50.

Insider Activity at BlackRock TCP Capital

In other BlackRock TCP Capital news, President Jason Mehring purchased 4,500 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the purchase, the president now owns 19,914 shares in the company, valued at approximately $185,200.20. The trade was a 29.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors and hedge funds have recently modified their holdings of TCPC. Jane Street Group LLC grew its stake 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 valued at $302,000 after buying an additional 23,857 shares during the last quarter. Columbus Macro LLC bought a new stake in shares of BlackRock TCP Capital during the fourth quarter worth approximately $4,177,000. EP Wealth Advisors LLC acquired a new position in shares of BlackRock TCP Capital in the third quarter valued at approximately $526,000. Paloma Partners Management Co bought a new position in shares of BlackRock TCP Capital during the third quarter worth approximately $608,000. Finally, Van ECK Associates Corp lifted its holdings in BlackRock TCP Capital by 7.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company's stock worth $17,257,000 after purchasing an additional 143,667 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.