Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC – Get Free Report) have received a consensus recommendation of “Reduce” from the six research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $9.00.
TCPC has been the subject of a number of research reports. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company upped their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th.
BlackRock TCP Capital Trading Down 0.6 %
BlackRock TCP Capital (NASDAQ:TCPC – Get Free Report) last issued its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). The firm 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 14.16% and a negative net margin of 15.22%. During the same period in the prior year, the company earned $0.49 EPS. Equities analysts anticipate that BlackRock TCP Capital will post 1.65 EPS for the current fiscal year.
Insider Buying and Selling
In other news, President Jason Mehring purchased 4,500 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were acquired at an average price of $9.30 per share, with a total value of $41,850.00. Following the acquisition, the president now directly owns 19,914 shares in the company, valued at approximately $185,200.20. The trade was a 29.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is owned by insiders.
Institutional Trading of BlackRock TCP Capital
Institutional investors have recently modified their holdings of the company. Verus Capital Partners LLC increased its holdings in BlackRock TCP Capital by 14.6% during the 4th quarter. Verus Capital Partners LLC now owns 54,214 shares of the investment management company’s stock valued at $472,000 after purchasing an additional 6,910 shares during the period. Muzinich & Co. Inc. increased its stake in shares of BlackRock TCP Capital by 11.8% during the fourth quarter. Muzinich & Co. Inc. now owns 241,464 shares of the investment management company’s stock valued at $2,103,000 after buying an additional 25,560 shares during the period. GraniteShares Advisors LLC bought a new position in shares of BlackRock TCP Capital during the fourth quarter valued at approximately $2,453,000. Transcend Capital Advisors LLC raised its holdings in shares of BlackRock TCP Capital by 17.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company’s stock valued at $12,477,000 after acquiring an additional 209,898 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in BlackRock TCP Capital by 77.7% in the fourth quarter. J.W. Cole Advisors Inc. now owns 92,491 shares of the investment management company’s stock worth $806,000 after acquiring an additional 40,448 shares during the period.
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.
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