Blackrock Tcp Capital (NASDAQ:TCPC) Cut to Hold at Zacks Research

Zacks Research lowered shares of Blackrock Tcp Capital (NASDAQ:TCPC) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

TCPC has been the subject of several other research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research note on Monday, December 29th. Wells Fargo & Company lowered their price target on Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating for the company in a report on Monday, November 10th. Finally, Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Blackrock Tcp Capital presently has a consensus rating of “Reduce” and an average price target of $6.50.

Blackrock Tcp Capital Trading Down 1.6%

Shares of TCPC opened at $4.86 on Wednesday. The company has a current ratio of 14.55, a quick ratio of 14.55 and a debt-to-equity ratio of 1.42. Blackrock Tcp Capital has a 12-month low of $4.85 and a 12-month high of $9.48. The firm has a 50-day moving average price of $5.60 and a 200 day moving average price of $6.14. The firm has a market capitalization of $412.32 million, a P/E ratio of -37.38 and a beta of 0.89.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its earnings results on Thursday, November 6th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $50.52 million for the quarter, compared to analysts’ expectations of $51.01 million. Blackrock Tcp Capital had a positive return on equity of 15.27% and a negative net margin of 4.20%. Sell-side analysts forecast that Blackrock Tcp Capital will post 1.65 EPS for the current year.

Institutional Trading of Blackrock Tcp Capital

A number of institutional investors and hedge funds have recently bought and sold shares of TCPC. Equitable Trust Co. acquired a new stake in shares of Blackrock Tcp Capital during the fourth quarter worth about $75,000. UBS Group AG grew its holdings in shares of Blackrock Tcp Capital by 8.9% in the fourth quarter. UBS Group AG now owns 1,571,451 shares of the investment management company’s stock valued at $8,596,000 after purchasing an additional 128,687 shares in the last quarter. Sound Income Strategies LLC increased its stake in Blackrock Tcp Capital by 188.7% during the 4th quarter. Sound Income Strategies LLC now owns 5,072 shares of the investment management company’s stock worth $29,000 after buying an additional 3,315 shares during the period. Sowell Financial Services LLC acquired a new stake in Blackrock Tcp Capital during the 4th quarter worth approximately $105,000. Finally, Blue Trust Inc. purchased a new position in Blackrock Tcp Capital in the 4th quarter valued at approximately $59,000.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.