BlackRock TCP Capital (NASDAQ:TCPC) Sees Unusually-High Trading Volume

BlackRock TCP Capital Corp. (NASDAQ:TCPC) shares saw unusually-high trading volume on Friday . Approximately 539,951 shares changed hands during mid-day trading, an increase of 19% from the previous session’s volume of 452,659 shares.The stock last traded at $9.34 and had previously closed at $9.12.

Analyst Ratings Changes

TCPC has been the topic of several recent research reports. Wells Fargo & Company decreased their target price on shares of BlackRock TCP Capital from $10.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Monday, August 12th. LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. StockNews.com downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Oppenheimer lowered their price target on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods dropped their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.17.

BlackRock TCP Capital Stock Performance

The stock has a 50-day moving average of $10.32 and a 200 day moving average of $10.52. The firm has a market capitalization of $794.28 million, a P/E ratio of 26.83 and a beta of 1.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The company had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.39 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, research analysts anticipate that BlackRock TCP Capital Corp. will post 1.68 earnings per share for the current year.

BlackRock TCP Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 14.66%. BlackRock TCP Capital’s payout ratio is currently 388.58%.

Hedge Funds Weigh In On BlackRock TCP Capital

Hedge funds have recently added to or reduced their stakes in the company. Register Financial Advisors LLC bought a new stake in BlackRock TCP Capital during the 1st quarter worth about $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of BlackRock TCP Capital during the 1st quarter worth approximately $31,000. International Assets Investment Management LLC bought a new stake in shares of BlackRock TCP Capital during the second quarter worth approximately $60,000. Cape Investment Advisory Inc. bought a new stake in shares of BlackRock TCP Capital during the fourth quarter worth approximately $74,000. Finally, Tucker Asset Management LLC bought a new position in BlackRock TCP Capital in the fourth quarter valued at approximately $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.