BlackRock TCP Capital (NASDAQ:TCPC) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of BlackRock TCP Capital (NASDAQ:TCPCFree Report) from a hold rating to a sell rating in a research note issued to investors on Friday.

A number of other equities analysts have also weighed in on TCPC. JMP Securities reissued a market perform rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Oppenheimer reduced their price target on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a market perform rating for the company in a research report on Thursday, May 2nd. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a market perform rating for the company in a research report on Friday, March 22nd. Finally, Raymond James lowered shares of BlackRock TCP Capital from an outperform rating to a market perform rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $10.67.

View Our Latest Research Report on TCPC

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC opened at $11.08 on Friday. BlackRock TCP Capital has a fifty-two week low of $9.90 and a fifty-two week high of $13.00. The business has a 50-day simple moving average of $10.41 and a two-hundred day simple moving average of $11.03. The company has a debt-to-equity ratio of 1.37, a quick ratio of 19.05 and a current ratio of 19.05. The firm has a market cap of $948.34 million, a price-to-earnings ratio of 31.66 and a beta of 1.42.

BlackRock TCP Capital (NASDAQ:TCPCGet Free Report) last issued its earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. BlackRock TCP Capital had a return on equity of 13.95% and a net margin of 9.69%. The business had revenue of $55.73 million during the quarter, compared to analyst estimates of $50.99 million. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, analysts expect that BlackRock TCP Capital will post 1.71 earnings per share for the current year.

BlackRock TCP Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, June 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.27%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 388.58%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Spire Wealth Management grew its stake in shares of BlackRock TCP Capital by 15.6% during the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock valued at $149,000 after acquiring an additional 1,730 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of BlackRock TCP Capital by 16.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 188,391 shares of the investment management company’s stock valued at $2,174,000 after acquiring an additional 27,105 shares during the period. Raymond James & Associates grew its stake in shares of BlackRock TCP Capital by 21.5% during the 4th quarter. Raymond James & Associates now owns 292,417 shares of the investment management company’s stock valued at $3,374,000 after acquiring an additional 51,766 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of BlackRock TCP Capital by 1,710.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 36,218 shares of the investment management company’s stock valued at $425,000 after acquiring an additional 34,218 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of BlackRock TCP Capital by 1,054.0% during the 4th quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock valued at $4,754,000 after acquiring an additional 376,278 shares during the period.

About BlackRock TCP Capital

(Get Free Report)

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.

See Also

Analyst Recommendations for BlackRock TCP Capital (NASDAQ:TCPC)

Receive News & Ratings for BlackRock TCP Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock TCP Capital and related companies with MarketBeat.com's FREE daily email newsletter.