Blackrock Tcp Capital (NASDAQ:TCPC) Downgraded by Wall Street Zen to “Hold”

Blackrock Tcp Capital (NASDAQ:TCPC) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods reduced their target price on Blackrock Tcp Capital from $8.50 to $7.50 and set a “market perform” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on Blackrock Tcp Capital from $7.50 to $6.50 and set an “underweight” rating for the company in a research note on Monday, April 28th.

Blackrock Tcp Capital Stock Performance

NASDAQ TCPC opened at $7.90 on Friday. The company has a fifty day moving average price of $7.62 and a 200-day moving average price of $8.00. The firm has a market cap of $671.82 million, a price-to-earnings ratio of -13.62 and a beta of 1.02. The company has a debt-to-equity ratio of 1.41, a current ratio of 34.00 and a quick ratio of 34.00. Blackrock Tcp Capital has a 1 year low of $6.27 and a 1 year high of $11.03.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its quarterly earnings results on Thursday, May 8th. The investment management company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $55.89 million for the quarter, compared to analysts’ expectations of $57.95 million. Blackrock Tcp Capital had a negative net margin of 18.22% and a positive return on equity of 15.51%. As a group, equities research analysts predict that Blackrock Tcp Capital will post 1.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackrock Tcp Capital

Large investors have recently modified their holdings of the stock. TrueMark Investments LLC bought a new position in Blackrock Tcp Capital during the fourth quarter valued at $5,268,000. Cetera Investment Advisers purchased a new position in shares of Blackrock Tcp Capital during the 1st quarter valued at $4,514,000. Envestnet Asset Management Inc. lifted its position in shares of Blackrock Tcp Capital by 623.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock valued at $4,867,000 after buying an additional 481,581 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Blackrock Tcp Capital during the 4th quarter worth $2,939,000. Finally, North Ground Capital increased its holdings in Blackrock Tcp Capital by 1,209.0% in the 1st quarter. North Ground Capital now owns 365,000 shares of the investment management company’s stock worth $2,924,000 after acquiring an additional 337,116 shares during the last quarter.

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.