BlackRock TCP Capital (NASDAQ:TCPC) Upgraded by StockNews.com to Hold Rating

BlackRock TCP Capital (NASDAQ:TCPC) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

TCPC has been the subject of several other reports. Wells Fargo & Company dropped their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, BlackRock TCP Capital presently has a consensus rating of “Hold” and an average price target of $8.67.

BlackRock TCP Capital Price Performance

NASDAQ:TCPC opened at $7.99 on Thursday. The stock has a 50 day moving average of $8.69 and a two-hundred day moving average of $8.66. BlackRock TCP Capital has a 12 month low of $7.67 and a 12 month high of $11.52. The firm has a market cap of $679.77 million, a P/E ratio of -15.98 and a beta of 1.55. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Philip M. Tseng acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the acquisition, the chief executive officer now owns 38,587 shares of the company’s stock, valued at approximately $298,663.38. The trade was a 34.98 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Patrick Wolfe bought 6,100 shares of the business’s stock in a transaction on Friday, March 14th. The shares were acquired at an average cost of $8.12 per share, with a total value of $49,532.00. Following the purchase, the chief operating officer now owns 8,003 shares of the company’s stock, valued at $64,984.36. The trade was a 320.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 18,500 shares of company stock worth $146,444 in the last three months. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

Several large investors have recently modified their holdings of TCPC. Van ECK Associates Corp raised its holdings in BlackRock TCP Capital by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock valued at $19,186,000 after buying an additional 95,603 shares during the period. Transcend Capital Advisors LLC raised its stake in shares of BlackRock TCP Capital by 17.2% in the 4th 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 during the period. TrueMark Investments LLC acquired a new position in shares of BlackRock TCP Capital in the 4th quarter worth approximately $5,268,000. Envestnet Asset Management Inc. boosted its position in shares of BlackRock TCP Capital by 623.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock worth $4,867,000 after purchasing an additional 481,581 shares during the period. Finally, D.A. Davidson & CO. boosted its position 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 purchasing an additional 17,218 shares during the period.

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.