BlackRock TCP Capital (NASDAQ:TCPC) Price Target Cut to $7.50 by Analysts at Wells Fargo & Company

BlackRock TCP Capital (NASDAQ:TCPC) had its price objective trimmed by Wells Fargo & Company from $8.00 to $7.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an underweight rating on the investment management company’s stock.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lowered their price target on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.67.

BlackRock TCP Capital Stock Performance

TCPC stock opened at $8.44 on Friday. The company has a market capitalization of $722.39 million, a PE ratio of -16.88 and a beta of 1.50. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. BlackRock TCP Capital has a one year low of $7.71 and a one year high of $11.52. The company’s 50 day moving average price is $8.97 and its two-hundred day moving average price is $8.81.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.85%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is presently -272.00%.

Institutional Trading of BlackRock TCP Capital

Several institutional investors have recently bought and sold shares of TCPC. Avior Wealth Management LLC bought a new position in shares of BlackRock TCP Capital in the fourth quarter worth approximately $38,000. Tower Research Capital LLC TRC boosted its stake in BlackRock TCP Capital by 177.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after purchasing an additional 3,508 shares during the last quarter. McIlrath & Eck LLC purchased a new position in shares of BlackRock TCP Capital in the third quarter worth $46,000. Transce3nd LLC bought a new position in shares of BlackRock TCP Capital during the fourth quarter valued at $70,000. Finally, Quantbot Technologies LP bought a new position in shares of BlackRock TCP Capital during the third quarter valued at $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.