BlackRock TCP Capital (NASDAQ:TCPC) Price Target Cut to $12.00

BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) had its price objective cut by investment analysts at Keefe, Bruyette & Woods from $13.50 to $12.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 2.39% from the company’s previous close.

Separately, Wells Fargo & Company increased their price target on BlackRock TCP Capital from $11.50 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, November 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock TCP Capital has an average rating of “Moderate Buy” and an average price target of $12.40.

BlackRock TCP Capital Price Performance

Shares of TCPC opened at $11.72 on Wednesday. The business’s 50-day moving average is $12.94 and its two-hundred day moving average is $12.75. The company has a quick ratio of 37.97, a current ratio of 37.97 and a debt-to-equity ratio of 1.21. BlackRock TCP Capital has a fifty-two week low of $10.65 and a fifty-two week high of $14.52.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of institutional investors have recently modified their holdings of TCPC. CWM LLC grew its position in shares of BlackRock TCP Capital by 62.2% during the 4th quarter. CWM LLC now owns 2,045 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 784 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC lifted its stake in BlackRock TCP Capital by 817.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,201 shares of the investment management company’s stock valued at $35,000 after buying an additional 2,852 shares in the last quarter. Arcus Capital Partners LLC purchased a new position in BlackRock TCP Capital in the 4th quarter valued at about $71,000. Finally, Romano Brothers AND Company purchased a new position in BlackRock TCP Capital in the 4th quarter valued at about $85,000.

About BlackRock TCP Capital

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TCP Capital Corp. is an externally-managed specialty finance company focused on middle-market lending. We have elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. Our stock is traded on NASDAQ under the ticker symbol ”TCPC”. TCP Capital’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection.