StockNews.com Upgrades BlackRock TCP Capital (NASDAQ:TCPC) to “Hold”

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

TCPC has been the subject of several other reports. Keefe, Bruyette & Woods cut 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 note on Friday, February 28th. Wells Fargo & Company cut their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.67.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC opened at $7.72 on Tuesday. BlackRock TCP Capital has a twelve month low of $7.67 and a twelve month high of $11.52. The business’s 50 day moving average price is $8.79 and its two-hundred day moving average price is $8.71. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The company has a market cap of $656.79 million, a PE ratio of -15.44 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.95%. The ex-dividend date is Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is currently -133.33%.

Insider Buying and Selling

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 purchased at an average cost 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 in the company, valued at approximately $64,984.36. The trade was a 320.55 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC bought a new stake in BlackRock TCP Capital in the 4th quarter valued at about $38,000. McIlrath & Eck LLC bought a new stake in BlackRock TCP Capital in the 3rd quarter valued at about $46,000. Tower Research Capital LLC TRC increased its position in BlackRock TCP Capital by 177.2% in the 4th 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 in the last quarter. Transce3nd LLC bought a new stake in BlackRock TCP Capital in the 4th quarter valued at about $70,000. Finally, Quantbot Technologies LP bought a new stake in BlackRock TCP Capital in the 3rd quarter valued at about $79,000.

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.