Blackrock Tcp Capital (NASDAQ:TCPC) Stock Price Breaks Above Two Hundred Day Moving Average – Should You Sell?

Blackrock Tcp Capital Corp. (NASDAQ:TCPC)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $3.77 and traded as high as $4.14. Blackrock Tcp Capital shares last traded at $4.08, with a volume of 571,701 shares trading hands.

Analysts Set New Price Targets

TCPC has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Friday, August 28th. Keefe, Bruyette & Woods raised shares of Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $3.50 to $4.00 in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $3.75.

Blackrock Tcp Capital Price Performance

The firm has a market cap of $335.61 million, a PE ratio of -3.12 and a beta of 0.98. The company has a current ratio of 33.70, a quick ratio of 33.70 and a debt-to-equity ratio of 1.65. The company has a 50 day moving average price of $3.82 and a 200 day moving average price of $3.77.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $40.02 million during the quarter, compared to the consensus estimate of $38.36 million. Blackrock Tcp Capital had a positive return on equity of 13.85% and a negative net margin of 61.27%. On average, sell-side analysts expect that Blackrock Tcp Capital Corp. will post 0.68 EPS for the current year.

Blackrock Tcp Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 17.0%. The ex-dividend date of this dividend is Wednesday, September 16th. Blackrock Tcp Capital’s dividend payout ratio is presently -53.13%.

Institutional Trading of Blackrock Tcp Capital

Several large investors have recently modified their holdings of TCPC. Next Capital Management LLC acquired a new position in shares of Blackrock Tcp Capital during the 2nd quarter worth approximately $10,518,000. Van ECK Associates Corp raised its holdings in shares of Blackrock Tcp Capital by 26.8% in the second quarter. Van ECK Associates Corp now owns 2,096,604 shares of the investment management company’s stock worth $7,045,000 after acquiring an additional 442,735 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Blackrock Tcp Capital in the second quarter worth $2,245,000. GatePass Capital LLC purchased a new stake in shares of Blackrock Tcp Capital in the first quarter valued at $1,001,000. Finally, BlackRock Inc. purchased a new stake in shares of Blackrock Tcp Capital in the second quarter valued at $1,540,000.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a business development company that provides financing to middle-market companies, primarily in the United States. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

Its investment portfolio is focused largely on senior secured loans and other forms of secured and unsecured debt, along with select equity investments. BlackRock TCP Capital works with companies across a range of industries and typically supports businesses that may require financing for acquisitions, recapitalizations, growth initiatives, refinancings, or other corporate purposes.

The company was established as TCP Capital Corp.