BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives Average Recommendation of “Reduce” from Brokerages

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have been given a consensus recommendation of “Reduce” by the six ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $9.00.

Several brokerages recently commented on TCPC. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company boosted 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.

Insider Activity

In related news, President Jason Mehring purchased 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the completion of the transaction, the president now owns 19,914 shares of the company’s stock, valued at approximately $185,200.20. This trade represents a 29.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of large investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of BlackRock TCP Capital in the 3rd quarter valued at approximately $224,000. McIlrath & Eck LLC acquired a new position in BlackRock TCP Capital during the third quarter valued at approximately $46,000. Y Intercept Hong Kong Ltd lifted its stake in BlackRock TCP Capital by 190.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 71,075 shares of the investment management company’s stock worth $589,000 after purchasing an additional 46,595 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of BlackRock TCP Capital in the 3rd quarter valued at $526,000. Finally, Jane Street Group LLC increased its stake in shares of BlackRock TCP Capital by 189.3% in the 3rd quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock valued at $302,000 after purchasing an additional 23,857 shares during the last quarter.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC opened at $8.52 on Friday. BlackRock TCP Capital has a twelve month low of $7.71 and a twelve month high of $11.99. The company has a market cap of $729.24 million, a PE ratio of -17.04 and a beta of 1.50. The business’s 50 day moving average price is $8.88 and its two-hundred day moving average price is $9.15. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital (NASDAQ:TCPC) last posted 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). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The business had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. During the same quarter last year, the company posted $0.49 EPS. On average, analysts predict that BlackRock TCP Capital will post 1.65 EPS for the current year.

BlackRock TCP Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 20.66%. The ex-dividend date was Tuesday, December 17th. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s dividend payout ratio is presently -272.00%.

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.