BlackRock TCP Capital Corp. (NASDAQ:TCPC) Given Average Recommendation of “Reduce” by Brokerages

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has earned a consensus rating of “Reduce” from the six analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $9.00.

Several analysts have recently weighed in on TCPC shares. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company lifted their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday, November 7th.

BlackRock TCP Capital Price Performance

Shares of BlackRock TCP Capital stock opened at $9.49 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The firm’s 50-day simple moving average is $8.62 and its 200-day simple moving average is $9.50. BlackRock TCP Capital has a twelve month low of $7.71 and a twelve month high of $12.43. The firm has a market cap of $812.26 million, a P/E ratio of -18.98 and a beta of 1.50.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The business had revenue of $70.93 million for the quarter, compared to analyst estimates of $69.13 million. During the same quarter last year, the firm posted $0.49 earnings per share. As a group, research analysts expect that BlackRock TCP Capital will post 1.65 EPS for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, December 17th. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 dividend on an annualized basis and a dividend yield of 18.55%. BlackRock TCP Capital’s payout ratio is currently -272.00%.

Insiders Place Their Bets

In related news, President Jason Mehring bought 4,500 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average cost of $9.30 per share, with a total value of $41,850.00. Following the completion of the purchase, the president now owns 19,914 shares in the company, valued at approximately $185,200.20. The trade was a 29.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On BlackRock TCP Capital

Institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in shares of BlackRock TCP Capital in the third quarter worth about $25,000. McIlrath & Eck LLC bought a new stake in shares of BlackRock TCP Capital during the third quarter worth approximately $46,000. International Assets Investment Management LLC bought a new stake in shares of BlackRock TCP Capital during the second quarter worth approximately $60,000. Pathway Financial Advisers LLC raised its stake in shares of BlackRock TCP Capital by 729.0% during the third quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after buying an additional 6,379 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of BlackRock TCP Capital during the third quarter worth approximately $79,000.

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.