Brokerages Set BlackRock TCP Capital Corp. (NASDAQ:TCPC) Price Target at $9.00

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has received a consensus rating of “Reduce” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.00.

A number of research analysts recently commented on TCPC shares. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company raised their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th.

BlackRock TCP Capital Stock Down 0.2 %

Shares of NASDAQ TCPC opened at $8.75 on Wednesday. The business has a 50-day moving average of $8.74 and a two-hundred day moving average of $9.44. The company has a market capitalization of $748.91 million, a price-to-earnings ratio of -17.50 and a beta of 1.50. BlackRock TCP Capital has a 1 year low of $7.71 and a 1 year high of $11.99. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37.

BlackRock TCP Capital (NASDAQ:TCPC) last posted 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). The business had revenue of $70.93 million for 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 quarter in the previous year, the firm earned $0.49 EPS. On average, analysts forecast that BlackRock TCP Capital will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The firm also recently disclosed 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 a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 dividend on an annualized basis and a yield of 20.11%. BlackRock TCP Capital’s payout ratio is currently -271.99%.

Insider Activity

In related news, President Jason Mehring purchased 4,500 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the completion of the purchase, the president now directly owns 19,914 shares of the company’s stock, valued at $185,200.20. This trade represents a 29.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors have recently bought and sold shares of TCPC. Barings LLC boosted its holdings in shares of BlackRock TCP Capital by 3,878.9% in the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after acquiring an additional 17,053,151 shares in the last quarter. Van ECK Associates Corp boosted its holdings in BlackRock TCP Capital by 7.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock valued at $17,257,000 after purchasing an additional 143,667 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in BlackRock TCP Capital by 12.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock worth $5,442,000 after purchasing an additional 54,786 shares during the period. D.A. Davidson & CO. raised its stake in shares of BlackRock TCP Capital by 3.7% during the 3rd quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company’s stock worth $4,024,000 after buying an additional 17,218 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of BlackRock TCP Capital by 6.9% during the 2nd quarter. Raymond James & Associates now owns 322,962 shares of the investment management company’s stock worth $3,488,000 after buying an additional 20,888 shares in the last quarter.

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.