Blackrock Tcp Capital (NASDAQ:TCPC) Price Target Cut to $5.50 by Analysts at Wells Fargo & Company

Blackrock Tcp Capital (NASDAQ:TCPC) had its price objective cut by analysts at Wells Fargo & Company from $6.00 to $5.50 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 2.65% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackrock Tcp Capital in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Sell” and an average target price of $6.50.

Blackrock Tcp Capital Stock Performance

NASDAQ TCPC opened at $5.65 on Monday. The stock has a fifty day simple moving average of $6.20 and a 200-day simple moving average of $7.00. Blackrock Tcp Capital has a twelve month low of $5.39 and a twelve month high of $9.72. 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 stock has a market cap of $480.45 million, a PE ratio of -33.27 and a beta of 1.03.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its quarterly 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). Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%.The firm had revenue of $50.52 million for the quarter, compared to analyst estimates of $51.01 million. Equities analysts anticipate that Blackrock Tcp Capital will post 1.65 earnings per share for the current year.

Institutional Investors Weigh In On Blackrock Tcp Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in TCPC. Wealth Enhancement Advisory Services LLC increased its stake in Blackrock Tcp Capital by 13.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,656 shares of the investment management company’s stock valued at $91,000 after purchasing an additional 1,352 shares during the last quarter. VSM Wealth Advisory LLC raised its stake in Blackrock Tcp Capital by 15.9% during the first quarter. VSM Wealth Advisory LLC now owns 11,230 shares of the investment management company’s stock worth $90,000 after acquiring an additional 1,537 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Blackrock Tcp Capital by 27.5% in the first quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company’s stock worth $82,000 after acquiring an additional 2,200 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in Blackrock Tcp Capital by 2.9% in the first quarter. Arkadios Wealth Advisors now owns 96,516 shares of the investment management company’s stock valued at $773,000 after acquiring an additional 2,687 shares during the period. Finally, Samalin Investment Counsel LLC grew its holdings in shares of Blackrock Tcp Capital by 4.2% during the third quarter. Samalin Investment Counsel LLC now owns 68,357 shares of the investment management company’s stock valued at $424,000 after purchasing an additional 2,746 shares during the last quarter.

Blackrock Tcp Capital Company Profile

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.