Zacks Investment Research upgraded shares of Blackrock Capital Investment (NASDAQ:BKCC) from a sell rating to a hold rating in a research note released on Wednesday.
According to Zacks, “BlackRock Kelso Capital Corporation provides responsive, creative and flexible capital solutions to middle-market companies. BlackRock Kelso Capital provides middle-market companies with flexible financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities. The Companies strategy is to provide capital to meet our clients’ current and future needs across this spectrum, creating long-term partnerships with growing middle-market companies. “
Several other research firms also recently issued reports on BKCC. JPMorgan Chase & Co. decreased their price objective on shares of Blackrock Capital Investment from $8.00 to $7.50 and set a neutral rating on the stock in a report on Wednesday, November 1st. BidaskClub raised shares of Blackrock Capital Investment from a strong sell rating to a sell rating in a report on Wednesday, December 27th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $7.00 price objective on shares of Blackrock Capital Investment in a report on Friday, November 10th. Finally, ValuEngine raised shares of Blackrock Capital Investment from a hold rating to a buy rating in a report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $7.42.
Blackrock Capital Investment (NASDAQ BKCC) traded up $0.08 during mid-day trading on Wednesday, reaching $6.22. 448,094 shares of the company traded hands, compared to its average volume of 646,872. The firm has a market capitalization of $455.13, a price-to-earnings ratio of 25.92, a PEG ratio of 8.35 and a beta of 0.84. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.42. Blackrock Capital Investment has a 52 week low of $6.05 and a 52 week high of $7.89.
Blackrock Capital Investment (NASDAQ:BKCC) last released its quarterly earnings results on Wednesday, November 8th. The asset manager reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.04). The firm had revenue of $22.76 million for the quarter, compared to analyst estimates of $24.75 million. Blackrock Capital Investment had a net margin of 19.87% and a return on equity of 9.67%. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. research analysts predict that Blackrock Capital Investment will post 0.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 11.58%. The ex-dividend date was Monday, December 18th. Blackrock Capital Investment’s payout ratio is 300.00%.
In related news, Director Mark S. Lies acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were acquired at an average cost of $6.72 per share, with a total value of $336,000.00. Following the completion of the acquisition, the director now directly owns 155,000 shares in the company, valued at approximately $1,041,600. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Zugay acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average cost of $6.62 per share, for a total transaction of $99,300.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 87,750 shares of company stock worth $584,553. Insiders own 1.34% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Fieldpoint Private Securities LLC purchased a new position in shares of Blackrock Capital Investment in the third quarter worth about $101,000. Private Advisor Group LLC lifted its stake in shares of Blackrock Capital Investment by 21.2% in the third quarter. Private Advisor Group LLC now owns 44,160 shares of the asset manager’s stock worth $329,000 after buying an additional 7,737 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in shares of Blackrock Capital Investment by 46.8% in the third quarter. Pinebridge Investments L.P. now owns 37,399 shares of the asset manager’s stock worth $281,000 after buying an additional 11,931 shares in the last quarter. Hillsdale Investment Management Inc. lifted its stake in shares of Blackrock Capital Investment by 328.0% in the third quarter. Hillsdale Investment Management Inc. now owns 259,800 shares of the asset manager’s stock worth $1,949,000 after buying an additional 199,100 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Blackrock Capital Investment in the third quarter worth about $269,000. 31.05% of the stock is currently owned by institutional investors and hedge funds.
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Blackrock Capital Investment Company Profile
BlackRock Capital Investment Corporation is an externally-managed, non-diversified, closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation through its debt and equity investments. The Company provides middle-market companies with a range of financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities.
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