Wall Street Zen Downgrades Blackrock Tcp Capital (NASDAQ:TCPC) to Sell

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

A number of other analysts have also recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackrock Tcp Capital in a research report on Friday. Wells Fargo & Company reiterated an “underweight” rating and set a $6.00 price objective (down previously from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Blackrock Tcp Capital currently has an average rating of “Sell” and an average price target of $6.75.

Blackrock Tcp Capital Trading Up 0.2%

Shares of TCPC stock opened at $5.79 on Friday. The stock has a market cap of $492.36 million, a P/E ratio of -34.06 and a beta of 1.04. The business has a fifty day simple moving average of $6.48 and a 200-day simple moving average of $7.07. Blackrock Tcp Capital has a fifty-two week low of $5.39 and a fifty-two week high of $9.72. The company has a quick ratio of 14.07, a current ratio of 14.06 and a debt-to-equity ratio of 1.59.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Thursday, August 7th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The company had revenue of $51.47 million for the quarter, compared to analysts’ expectations of $56.16 million. Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%. On average, analysts forecast that Blackrock Tcp Capital will post 1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Blackrock Tcp Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Blackrock Tcp Capital in the 3rd quarter valued at about $25,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of Blackrock Tcp Capital in the 2nd quarter valued at about $30,000. MTM Investment Management LLC acquired a new position in shares of Blackrock Tcp Capital in the 2nd quarter valued at about $46,000. Spire Wealth Management acquired a new position in shares of Blackrock Tcp Capital in the 3rd quarter valued at about $78,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Blackrock Tcp Capital by 27.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company’s stock valued at $82,000 after purchasing an additional 2,200 shares in 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.