ValuEngine upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research note released on Wednesday morning.
TCPC has been the subject of a number of other reports. BidaskClub raised BlackRock TCP Capital from a strong sell rating to a sell rating in a research note on Friday, October 12th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $17.00 price target on shares of BlackRock TCP Capital in a research note on Wednesday, August 8th. Wells Fargo & Co lowered their price objective on BlackRock TCP Capital from $17.00 to $16.00 and set an outperform rating on the stock in a report on Thursday, October 4th. National Securities reissued a buy rating and set a $19.00 price objective on shares of BlackRock TCP Capital in a report on Monday, August 13th. Finally, Zacks Investment Research lowered BlackRock TCP Capital from a buy rating to a hold rating in a report on Thursday, November 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $16.90.
TCPC opened at $14.25 on Wednesday. BlackRock TCP Capital has a fifty-two week low of $13.71 and a fifty-two week high of $15.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a market cap of $831.28 million, a PE ratio of 8.32, a PEG ratio of 1.77 and a beta of 0.70.
BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Thursday, November 8th. The investment management company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. BlackRock TCP Capital had a return on equity of 11.56% and a net margin of 31.79%. The company had revenue of $49.48 million during the quarter, compared to the consensus estimate of $48.06 million. On average, research analysts forecast that BlackRock TCP Capital will post 1.6 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.11%. The ex-dividend date is Friday, December 14th. BlackRock TCP Capital’s dividend payout ratio is 72.36%.
In related news, CEO Howard Levkowitz acquired 5,000 shares of the stock in a transaction dated Friday, November 16th. The shares were acquired at an average price of $13.89 per share, with a total value of $69,450.00. Following the acquisition, the chief executive officer now owns 119,144 shares in the company, valued at approximately $1,654,910.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul L. Davis acquired 2,000 shares of the stock in a transaction dated Friday, December 7th. The shares were bought at an average cost of $14.24 per share, for a total transaction of $28,480.00. Following the acquisition, the chief financial officer now owns 15,000 shares in the company, valued at approximately $213,600. The disclosure for this purchase can be found here. In the last three months, insiders have bought 21,725 shares of company stock worth $304,044. 0.55% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCPC. 6 Meridian acquired a new stake in BlackRock TCP Capital in the 2nd quarter valued at approximately $5,305,000. Cliffwater LLC grew its holdings in BlackRock TCP Capital by 75.0% in the 3rd quarter. Cliffwater LLC now owns 504,651 shares of the investment management company’s stock valued at $7,181,000 after buying an additional 216,256 shares during the last quarter. Bramshill Investments LLC acquired a new stake in BlackRock TCP Capital in the 3rd quarter valued at approximately $1,506,000. Bank of Montreal Can acquired a new stake in BlackRock TCP Capital in the 2nd quarter valued at approximately $1,418,000. Finally, Acadian Asset Management LLC acquired a new stake in BlackRock TCP Capital in the 3rd quarter valued at approximately $1,019,000. 45.58% of the stock is currently owned by hedge funds and other institutional investors.
About BlackRock TCP Capital
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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