BlackRock TCP Capital (NASDAQ:TCPC) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a research note published on Thursday.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a market perform rating on the stock in a research report on Thursday, August 8th. Oppenheimer cut their target price on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a market perform rating on the stock in a report on Thursday, May 2nd. LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a buy rating to a neutral rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price target on BlackRock TCP Capital from $10.00 to $8.50 and set an equal weight rating on the stock in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $9.17.

BlackRock TCP Capital Price Performance

Shares of TCPC stock opened at $9.04 on Thursday. The firm has a fifty day moving average of $10.49 and a two-hundred day moving average of $10.58. The firm has a market cap of $773.73 million, a P/E ratio of 25.83 and a beta of 1.49. BlackRock TCP Capital has a 1-year low of $8.59 and a 1-year high of $12.59. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The business had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.39 million. During the same period in the previous year, the business earned $0.48 EPS. As a group, research analysts anticipate that BlackRock TCP Capital will post 1.68 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.34 per share. The ex-dividend date is Monday, September 16th. This represents a $1.36 annualized dividend and a dividend yield of 15.04%. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Institutional Trading of BlackRock TCP Capital

Several large investors have recently added to or reduced their stakes in TCPC. International Assets Investment Management LLC grew its stake in shares of BlackRock TCP Capital by 1,054.0% in the fourth quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock worth $4,754,000 after purchasing an additional 376,278 shares in the last quarter. Signaturefd LLC increased its stake in BlackRock TCP Capital by 73.2% during the 4th quarter. Signaturefd LLC now owns 13,490 shares of the investment management company’s stock valued at $156,000 after buying an additional 5,700 shares during the period. Van ECK Associates Corp raised its position in shares of BlackRock TCP Capital by 10.6% during the 4th quarter. Van ECK Associates Corp now owns 1,059,142 shares of the investment management company’s stock worth $12,222,000 after buying an additional 101,513 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of BlackRock TCP Capital by 7.3% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 49,037 shares of the investment management company’s stock worth $566,000 after acquiring an additional 3,331 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of BlackRock TCP Capital by 15.6% in the fourth quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock valued at $149,000 after acquiring an additional 1,730 shares in the last quarter.

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.