BlackRock TCP Capital (NASDAQ:TCPC) Given New $7.50 Price Target at Keefe, Bruyette & Woods

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) had its price objective decreased by equities research analysts at Keefe, Bruyette & Woods from $8.50 to $7.50 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "market perform" rating on the investment management company's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 14.16% from the stock's previous close.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company reduced their target price 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. StockNews.com lowered BlackRock TCP Capital from a "hold" rating to a "sell" rating in a report on Friday, April 4th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $8.33.

BlackRock TCP Capital Trading Down 1.9 %

NASDAQ TCPC traded down $0.13 during trading on Tuesday, hitting $6.57. The stock had a trading volume of 817,141 shares, compared to its average volume of 568,175. The company has a market capitalization of $558.96 million, a PE ratio of -13.14 and a beta of 1.21. BlackRock TCP Capital has a twelve month low of $6.27 and a twelve month high of $11.52. 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 firm has a 50 day moving average price of $8.22 and a 200 day moving average price of $8.54.

Insider Transactions at BlackRock TCP Capital

In related news, CEO Philip M. Tseng purchased 10,000 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the purchase, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at $298,663.38. The trade was a 34.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Wolfe acquired 6,100 shares of the company's stock in a transaction on Friday, March 14th. The shares were purchased at an average cost 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 of the company's stock, valued at approximately $64,984.36. The trade was a 320.55 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 18,500 shares of company stock valued at $146,444. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackRock TCP Capital

A number of large investors have recently made changes to their positions in the company. Centiva Capital LP purchased a new position in shares of BlackRock TCP Capital during the third quarter worth approximately $258,000. Jane Street Group LLC raised its holdings in shares of BlackRock TCP Capital by 189.3% in the third 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. EP Wealth Advisors LLC acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth about $526,000. Y Intercept Hong Kong Ltd grew its holdings in shares of BlackRock TCP Capital by 190.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 71,075 shares of the investment management company's stock worth $589,000 after buying an additional 46,595 shares during the last quarter. Finally, McIlrath & Eck LLC acquired a new position in BlackRock TCP Capital in the 3rd quarter valued at about $46,000.

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.