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

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Saturday.

TCPC has been the subject of a number of other research reports. Wells Fargo & Company cut their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.33.

BlackRock TCP Capital Price Performance

TCPC stock traded up $0.13 on Friday, reaching $6.77. 40,791 shares of the company's stock were exchanged, compared to its average volume of 570,940. The stock has a fifty day moving average of $8.08 and a 200-day moving average of $8.51. The firm has a market cap of $575.97 million, a PE ratio of -13.58 and a beta of 1.21. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a twelve month low of $6.27 and a twelve month high of $11.52.

Insiders Place Their Bets

In related news, CEO Philip M. Tseng acquired 10,000 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the transaction, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at approximately $298,663.38. This trade represents a 34.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Patrick Wolfe bought 6,100 shares of the stock in a transaction on Friday, March 14th. The shares were bought at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the acquisition, the chief operating officer now owns 8,003 shares in the company, valued at $64,984.36. The trade was a 320.55 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 18,500 shares of company stock worth $146,444. Insiders own 0.16% of the company's stock.

Institutional Trading of BlackRock TCP Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCPC. Van ECK Associates Corp boosted its stake in shares of BlackRock TCP Capital by 4.5% during 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 purchasing an additional 95,603 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in shares of 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 valued at $12,477,000 after buying an additional 209,898 shares during the period. TrueMark Investments LLC acquired a new stake in BlackRock TCP Capital during the fourth quarter worth approximately $5,268,000. Envestnet Asset Management Inc. grew its stake in BlackRock TCP Capital by 623.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock worth $4,867,000 after acquiring an additional 481,581 shares during the period. Finally, Barings LLC raised its holdings in BlackRock TCP Capital by 5.0% in the 4th quarter. Barings LLC now owns 480,322 shares of the investment management company's stock valued at $4,184,000 after acquiring an additional 22,675 shares during the last quarter.

About BlackRock TCP Capital

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.