BlackRock TCP Capital (NASDAQ:TCPC) Upgraded at StockNews.com

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research note released on Thursday.

A number of other research analysts have also recently commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company cut their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.67.

BlackRock TCP Capital Price Performance

NASDAQ:TCPC opened at $7.99 on Thursday. The business’s 50-day moving average price is $8.69 and its 200 day moving average price is $8.66. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a 52-week low of $7.67 and a 52-week 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.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.52%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

Insiders Place Their Bets

In other news, CEO Philip M. Tseng acquired 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 38,587 shares of the company’s stock, valued at approximately $298,663.38. This represents a 34.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick Wolfe bought 6,100 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were purchased at an average price of $8.12 per share, with a total value of $49,532.00. Following the transaction, 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 have purchased a total of 18,500 shares of company stock valued at $146,444 in the last 90 days. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

Several hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC acquired a new position in BlackRock TCP Capital during the 4th quarter valued at about $38,000. McIlrath & Eck LLC acquired a new position in BlackRock TCP Capital in the third quarter valued at approximately $46,000. Tower Research Capital LLC TRC lifted its holdings in BlackRock TCP Capital by 177.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after buying an additional 3,508 shares during the period. Transce3nd LLC bought a new position in BlackRock TCP Capital in the fourth quarter valued at approximately $70,000. Finally, Quantbot Technologies LP acquired a new stake in BlackRock TCP Capital during the 3rd quarter worth $79,000.

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.