BlackRock TCP Capital (NASDAQ:TCPC) Sets New 1-Year Low at $9.71

BlackRock TCP Capital Corp. (NASDAQ:TCPC)’s stock price reached a new 52-week low on Monday . The stock traded as low as $9.71 and last traded at $9.89, with a volume of 205377 shares changing hands. The stock had previously closed at $10.33.

Analysts Set New Price Targets

Several research firms have commented on TCPC. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Oppenheimer cut their price target on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus price target of $10.67.

BlackRock TCP Capital Price Performance

The stock’s 50 day moving average price is $10.90 and its 200-day moving average price is $10.75. The company has a quick ratio of 19.05, a current ratio of 19.05 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $860.18 million, a PE ratio of 29.52 and a beta of 1.49.

Institutional Trading of BlackRock TCP Capital

Several institutional investors and hedge funds have recently modified their holdings of TCPC. D.A. Davidson & CO. increased its holdings in BlackRock TCP Capital by 7.6% during the 2nd quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock worth $5,057,000 after purchasing an additional 33,147 shares during the period. Van ECK Associates Corp raised its holdings in shares of BlackRock TCP Capital by 17.0% in the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after acquiring an additional 284,802 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in BlackRock TCP Capital by 171.4% in the second quarter. Commonwealth Equity Services LLC now owns 49,590 shares of the investment management company’s stock worth $536,000 after acquiring an additional 31,321 shares during the period. International Assets Investment Management LLC bought a new position in BlackRock TCP Capital during the 2nd quarter worth about $60,000. Finally, Catalina Capital Group LLC purchased a new position in BlackRock TCP Capital during the 2nd quarter valued at about $108,000.

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.