BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Tuesday.
Other research analysts have also issued research reports about the stock. Wells Fargo & Company cut their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating on the stock in a report on Friday, February 28th. 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 on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, BlackRock TCP Capital presently has a consensus rating of "Hold" and a consensus price target of $8.67.
Check Out Our Latest Report on BlackRock TCP Capital
BlackRock TCP Capital Trading Up 0.1 %
TCPC stock traded up $0.01 during trading on Tuesday, reaching $7.73. 596,093 shares of the stock traded hands, compared to its average volume of 551,306. The firm has a market capitalization of $657.65 million, a PE ratio of -15.46 and a beta of 1.55. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The business's 50 day moving average price is $8.77 and its 200-day moving average price is $8.70. BlackRock TCP Capital has a 52-week low of $7.67 and a 52-week high of $11.52.
Insider Transactions at BlackRock TCP Capital
In other news, COO Patrick Wolfe purchased 6,100 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average price of $8.12 per share, with a total value of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares of the company's stock, valued at approximately $64,984.36. This represents a 320.55 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Philip M. Tseng acquired 10,000 shares of the business's stock in a transaction on Friday, March 21st. The stock was purchased 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. This represents a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 18,500 shares of company stock valued at $146,444. Corporate insiders own 0.16% of the company's stock.
Hedge Funds Weigh In On BlackRock TCP Capital
Institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd raised its holdings in BlackRock TCP Capital by 91.1% in 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 acquiring an additional 14,245 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of BlackRock TCP Capital by 3.7% in the 3rd quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company's stock worth $4,024,000 after purchasing an additional 17,218 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of BlackRock TCP Capital in the 3rd quarter valued at about $79,000. CreativeOne Wealth LLC lifted its position in shares of BlackRock TCP Capital by 13.8% during the third quarter. CreativeOne Wealth LLC now owns 67,794 shares of the investment management company's stock worth $562,000 after purchasing an additional 8,238 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in BlackRock TCP Capital in the third quarter worth about $608,000.
About BlackRock TCP Capital
(
Get Free Report)
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.
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