BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives Consensus Recommendation of “Reduce” from Brokerages

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has earned an average rating of “Reduce” from the six brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $9.00.

Several equities analysts recently weighed in on the company. StockNews.com downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company downgraded BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $8.50 to $8.00 in a research report on Monday, August 26th. Finally, Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th.

Insider Buying and Selling at BlackRock TCP Capital

In other news, CEO Rajneesh Vig bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the transaction, the chief executive officer now owns 130,930 shares of the company’s stock, valued at $1,190,153.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 27,000 shares of company stock worth $245,525. Insiders own 0.16% of the company’s stock.

Institutional Trading of BlackRock TCP Capital

A number of large investors have recently added to or reduced their stakes in TCPC. Barings LLC increased its stake in BlackRock TCP Capital by 3,878.9% in the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after acquiring an additional 17,053,151 shares during the last quarter. Van ECK Associates Corp increased its stake in BlackRock TCP Capital by 58.5% in the 1st quarter. Van ECK Associates Corp now owns 1,678,661 shares of the investment management company’s stock worth $17,508,000 after acquiring an additional 619,519 shares during the last quarter. Confluence Investment Management LLC bought a new stake in BlackRock TCP Capital in the 1st quarter worth approximately $4,172,000. International Assets Investment Management LLC increased its stake in BlackRock TCP Capital by 1,054.0% in the 4th quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock worth $4,754,000 after acquiring an additional 376,278 shares during the last quarter. Finally, Condor Capital Management bought a new stake in BlackRock TCP Capital in the 1st quarter worth approximately $3,887,000.

BlackRock TCP Capital Stock Performance

TCPC stock opened at $9.11 on Monday. The company has a market cap of $779.72 million, a P/E ratio of 26.03 and a beta of 1.48. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47. The stock’s fifty day moving average price is $9.96 and its 200-day moving average price is $10.37. BlackRock TCP Capital has a 1 year low of $8.59 and a 1 year high of $12.59.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, meeting the consensus estimate 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 positive return on equity of 14.42% and a negative net margin of 20.11%. During the same period in the previous year, the business earned $0.48 earnings per share. On average, equities analysts forecast that BlackRock TCP Capital will post 1.68 earnings per share for the current year.

BlackRock TCP Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, September 16th. This represents a $1.36 annualized dividend and a yield of 14.93%. BlackRock TCP Capital’s payout ratio is 388.58%.

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.