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

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

Several other equities analysts have also recently issued reports on TCPC. Wells Fargo & Company reduced their price objective on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods dropped their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus price target of $8.67.

BlackRock TCP Capital Price Performance

TCPC stock traded up $0.07 during midday trading on Tuesday, hitting $7.81. 559,585 shares of the stock were exchanged, compared to its average volume of 560,464. The stock’s 50-day moving average price is $8.82 and its 200-day moving average price is $8.73. The stock has a market cap of $664.45 million, a price-to-earnings ratio of -15.62 and a beta of 1.55. BlackRock TCP Capital has a fifty-two week low of $7.71 and a fifty-two week high of $11.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37.

Insiders Place Their Bets

In other BlackRock TCP Capital news, COO Patrick Wolfe acquired 6,100 shares of the stock in a transaction dated Friday, March 14th. The stock was acquired at an average price of $8.12 per share, with a total value of $49,532.00. Following the completion of the transaction, the chief operating officer now directly owns 8,003 shares in the company, valued at approximately $64,984.36. This trade represents a 320.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in TCPC. TrueMark Investments LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $5,268,000. Envestnet Asset Management Inc. grew its position in shares of BlackRock TCP Capital by 623.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock valued at $4,867,000 after purchasing an additional 481,581 shares during the period. Columbus Macro LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $4,177,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $2,939,000. Finally, GraniteShares Advisors LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $2,453,000.

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.