BlackRock TCP Capital (NASDAQ:TCPC) Upgraded at StockNews.com

BlackRock TCP Capital (NASDAQ:TCPC) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other equities analysts also recently weighed in on the stock. LADENBURG THALM/SH SH downgraded shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company upped their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, BlackRock TCP Capital currently has an average rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Stock Up 1.9 %

Shares of NASDAQ TCPC traded up $0.16 during trading on Thursday, hitting $8.71. The stock had a trading volume of 1,090,442 shares, compared to its average volume of 500,794. The firm has a fifty day moving average of $8.44 and a two-hundred day moving average of $9.74. 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 company has a market capitalization of $745.49 million, a PE ratio of -16.43 and a beta of 1.47. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The company had revenue of $70.93 million during the quarter, compared to analysts’ expectations of $69.13 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 last year, the firm posted $0.49 earnings per share. As a group, equities research analysts forecast that BlackRock TCP Capital will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Philip M. Tseng acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were bought 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 trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BlackRock TCP Capital news, Director Philip M. Tseng purchased 5,000 shares of BlackRock TCP Capital stock in a transaction on Friday, September 6th. The shares were acquired 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 directly owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Philip M. Tseng purchased 10,000 shares of BlackRock TCP Capital stock in a transaction on Tuesday, September 10th. The shares were acquired at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the transaction, the director now directly owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 42,000 shares of company stock worth $381,875. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new stake in shares of BlackRock TCP Capital during the third quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of BlackRock TCP Capital during the second quarter valued at approximately $60,000. Pathway Financial Advisers LLC boosted 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 valued at $60,000 after purchasing an additional 6,379 shares during the period. MeadowBrook Investment Advisors LLC boosted its stake in shares of BlackRock TCP Capital by 22.2% during the third quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock valued at $90,000 after purchasing an additional 1,970 shares during the period. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of BlackRock TCP Capital during the third quarter valued at approximately $100,000.

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.