BlackRock TCP Capital (NASDAQ:TCPC) PT Lowered to $10.00 at Oppenheimer

BlackRock TCP Capital (NASDAQ:TCPC) had its price target decreased by research analysts at Oppenheimer from $11.00 to $10.00 in a report released on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the investment management company’s stock. Oppenheimer’s target price suggests a potential downside of 2.72% from the company’s previous close.

A number of other research firms also recently issued reports on TCPC. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Keefe, Bruyette & Woods lowered their price target on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a report on Friday, March 22nd. Raymond James cut BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, March 1st. Finally, Wells Fargo & Company raised their price objective on BlackRock TCP Capital from $11.00 to $11.50 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.00.

BlackRock TCP Capital Price Performance

TCPC stock traded down $0.01 during mid-day trading on Thursday, hitting $10.28. The company had a trading volume of 374,750 shares, compared to its average volume of 425,125. The company has a 50-day moving average price of $10.30 and a 200 day moving average price of $11.05. BlackRock TCP Capital has a 12-month low of $9.80 and a 12-month high of $13.00. The company has a market capitalization of $593.88 million, a price-to-earnings ratio of 29.37 and a beta of 1.42. The company has a quick ratio of 30.47, a current ratio of 19.05 and a debt-to-equity ratio of 1.37.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $55.73 million during the quarter, compared to analyst estimates of $50.99 million. BlackRock TCP Capital had a return on equity of 13.95% and a net margin of 9.69%. During the same period in the prior year, the company earned $0.44 earnings per share. On average, research analysts anticipate that BlackRock TCP Capital will post 1.7 earnings per share for the current year.

Institutional Trading of BlackRock TCP Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Register Financial Advisors LLC purchased a new stake in shares of BlackRock TCP Capital in the first quarter valued at approximately $26,000. Future Financial Wealth Managment LLC purchased a new position in BlackRock TCP Capital during the 1st quarter worth $31,000. Morton Brown Family Wealth LLC bought a new stake in BlackRock TCP Capital during the 4th quarter valued at $32,000. Cape Investment Advisory Inc. purchased a new stake in shares of BlackRock TCP Capital in the 4th quarter worth $74,000. Finally, Tucker Asset Management LLC bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth $74,000.

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.