StockNews.com Upgrades BlackRock TCP Capital (NASDAQ:TCPC) to Hold

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC - Free Report) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Several other analysts also recently commented on TCPC. Wells Fargo & Company reduced their price objective on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, BlackRock TCP Capital currently has an average rating of "Hold" and an average price target of $8.67.

BlackRock TCP Capital Trading Down 0.2 %

TCPC traded down $0.02 during trading on Thursday, reaching $7.99. 530,886 shares of the stock traded hands, compared to its average volume of 548,328. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The stock's 50-day moving average is $8.69 and its 200 day moving average is $8.66. BlackRock TCP Capital has a 12 month low of $7.67 and a 12 month high of $11.52. The stock has a market capitalization of $679.77 million, a PE ratio of -15.98 and a beta of 1.55.

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BlackRock TCP Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.52%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital's payout ratio is -133.33%.

Insider Buying and Selling

In other BlackRock TCP Capital news, COO Patrick Wolfe bought 6,100 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $8.12 per share, with a total value of $49,532.00. Following the completion of the transaction, the chief operating officer now directly owns 8,003 shares in the company, valued at approximately $64,984.36. The trade was a 320.55 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Philip M. Tseng bought 10,000 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the acquisition, the chief executive officer now directly owns 38,587 shares in the company, valued at $298,663.38. The trade was a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 18,500 shares of company stock worth $146,444 in the last ninety days. Corporate insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of hedge funds have recently added to or reduced their stakes in TCPC. Dynamic Technology Lab Private Ltd boosted its position in shares of BlackRock TCP Capital by 91.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 29,877 shares of the investment management company's stock valued at $248,000 after buying an additional 14,245 shares during the last quarter. D.A. Davidson & CO. lifted its stake in BlackRock TCP Capital by 3.7% during 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 acquiring an additional 17,218 shares in the last quarter. Quantbot Technologies LP purchased a new position in BlackRock TCP Capital during the 3rd quarter worth $79,000. CreativeOne Wealth LLC grew its stake in shares of BlackRock TCP Capital by 13.8% in the 3rd quarter. CreativeOne Wealth LLC now owns 67,794 shares of the investment management company's stock worth $562,000 after acquiring an additional 8,238 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of BlackRock TCP Capital in the 3rd quarter worth $608,000.

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.