Wells Fargo & Company Trims BlackRock TCP Capital (NASDAQ:TCPC) Target Price to $7.50

BlackRock TCP Capital (NASDAQ:TCPC - Free Report) had its target price decreased by Wells Fargo & Company from $8.00 to $7.50 in a research report sent to investors on Tuesday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the investment management company's stock.

A number of other research firms also recently weighed in on TCPC. StockNews.com downgraded shares of BlackRock TCP Capital from a "hold" rating to a "sell" rating in a research note on Thursday, August 15th. LADENBURG THALM/SH SH downgraded shares of BlackRock TCP Capital from a "buy" rating to a "neutral" rating in a research note on Thursday, August 8th. Finally, Keefe, Bruyette & Woods cut their target price on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a "market perform" rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.83.

BlackRock TCP Capital Trading Down 1.3 %

NASDAQ TCPC traded down $0.11 during mid-day trading on Tuesday, reaching $8.20. 331,266 shares of the stock were exchanged, compared to its average volume of 490,867. BlackRock TCP Capital has a 1-year low of $8.02 and a 1-year high of $12.43. The business's fifty day simple moving average is $8.58 and its 200 day simple moving average is $9.84. The stock has a market capitalization of $701.84 million, a PE ratio of -15.45 and a beta of 1.47. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. The company had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter last year, the firm posted $0.48 earnings per share. On average, research analysts anticipate that BlackRock TCP Capital will post 1.66 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 16.59%. The ex-dividend date was Monday, September 16th. BlackRock TCP Capital's dividend payout ratio (DPR) is -256.60%.

Insider Buying and Selling

In related news, CEO Rajneesh Vig acquired 25,000 shares of the firm's stock in a transaction on Thursday, August 29th. The stock was bought at an average cost of $9.09 per share, with a total value of $227,250.00. Following the acquisition, the chief executive officer now directly owns 130,930 shares in the company, valued at approximately $1,190,153.70. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Rajneesh Vig purchased 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average cost of $9.09 per share, with a total value of $227,250.00. Following the transaction, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip M. Tseng purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the transaction, the director now owns 17,481 shares in the company, valued at approximately $158,552.67. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 42,000 shares of company stock valued at $381,875 in the last quarter. Company insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TCPC. Wealthcare Advisory Partners LLC acquired a new position in shares of BlackRock TCP Capital during the first quarter valued at $176,000. SteelPeak Wealth LLC bought a new position in BlackRock TCP Capital during the first quarter valued at about $104,000. Van ECK Associates Corp boosted its stake in BlackRock TCP Capital by 58.5% during the first quarter. Van ECK Associates Corp now owns 1,678,661 shares of the investment management company's stock valued at $17,508,000 after buying an additional 619,519 shares in the last quarter. Access Investment Management LLC bought a new position in BlackRock TCP Capital during the first quarter valued at about $566,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in BlackRock TCP Capital by 87.2% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 185,041 shares of the investment management company's stock valued at $1,930,000 after buying an additional 86,215 shares in 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.