Wells Fargo & Company Has Lowered Expectations for BlackRock TCP Capital (NASDAQ:TCPC) Stock Price

BlackRock TCP Capital (NASDAQ:TCPC) had its price objective dropped by analysts at Wells Fargo & Company from $7.50 to $6.50 in a report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the investment management company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 6.88% from the company’s current price.

A number of other research firms have also weighed in on TCPC. Keefe, Bruyette & Woods lowered their target price on BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 12th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC opened at $6.98 on Monday. 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 stock has a market cap of $593.84 million, a PE ratio of -13.96 and a beta of 1.21. The company’s fifty day moving average is $7.64 and its 200 day moving average is $8.43. BlackRock TCP Capital has a 52 week low of $6.27 and a 52 week high of $11.52.

Insider Transactions at BlackRock TCP Capital

In related news, CEO Philip M. Tseng bought 10,000 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was purchased at an average cost of $7.74 per share, with a total value of $77,400.00. Following the transaction, the chief executive officer now owns 38,587 shares in the company, valued at approximately $298,663.38. This trade represents a 34.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick Wolfe bought 6,100 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were bought at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares in the company, valued at approximately $64,984.36. This represents a 320.55 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 18,500 shares of company stock worth $146,444. 0.16% of the stock is currently owned by insiders.

Institutional Trading of BlackRock TCP Capital

Several institutional investors and hedge funds have recently bought and sold shares of TCPC. Avior Wealth Management LLC bought a new position in shares of BlackRock TCP Capital in the 4th quarter worth approximately $38,000. Tower Research Capital LLC TRC boosted its holdings in shares of BlackRock TCP Capital by 177.2% during 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. McIlrath & Eck LLC purchased a new stake in shares of BlackRock TCP Capital in the 3rd quarter worth about $46,000. Transce3nd LLC bought a new position in shares of BlackRock TCP Capital in the 4th quarter worth about $70,000. Finally, VSM Wealth Advisory LLC purchased a new position in BlackRock TCP Capital during the 4th quarter valued at about $84,000.

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.