Blackrock Tcp Capital (NASDAQ:TCPC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Blackrock Tcp Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a report issued on Sunday morning.

A number of other brokerages have also recently weighed in on TCPC. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackrock Tcp Capital in a research report on Wednesday, October 8th. Wells Fargo & Company reiterated an “underweight” rating and set a $6.00 price target (down from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus target price of $6.75.

Blackrock Tcp Capital Stock Down 1.2%

Shares of Blackrock Tcp Capital stock opened at $5.56 on Friday. The company has a current ratio of 14.06, a quick ratio of 14.07 and a debt-to-equity ratio of 1.59. The business’s 50 day simple moving average is $6.29 and its 200-day simple moving average is $7.03. The stock has a market capitalization of $472.80 million, a price-to-earnings ratio of -32.71 and a beta of 1.04. Blackrock Tcp Capital has a twelve month low of $5.39 and a twelve month high of $9.72.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.32 earnings per share 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 analyst estimates of $56.16 million. Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%. Equities research analysts forecast that Blackrock Tcp Capital will post 1.65 earnings per share for the current year.

Blackrock Tcp Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 18.0%. The ex-dividend date of this dividend was Tuesday, September 16th. Blackrock Tcp Capital’s dividend payout ratio (DPR) is presently -588.24%.

Hedge Funds Weigh In On Blackrock Tcp Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCPC. Next Capital Management LLC boosted its stake in Blackrock Tcp Capital by 2,131.4% during the 2nd quarter. Next Capital Management LLC now owns 1,134,826 shares of the investment management company’s stock valued at $8,738,000 after purchasing an additional 1,083,968 shares in the last quarter. Cetera Investment Advisers bought a new position in Blackrock Tcp Capital during the 1st quarter valued at $4,514,000. Marshall Wace LLP bought a new position in Blackrock Tcp Capital during the 2nd quarter valued at $4,045,000. North Ground Capital bought a new position in Blackrock Tcp Capital during the 3rd quarter valued at $3,100,000. Finally, Privium Fund Management UK Ltd bought a new position in Blackrock Tcp Capital during the 1st quarter valued at $1,180,000.

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.