BlackRock TCP Capital (TCPC) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a strong sell rating to a sell rating in a report published on Friday morning.

Several other research analysts have also recently commented on the stock. JMP Securities reduced their target price on shares of BlackRock TCP Capital from $17.00 to $16.50 and set a market outperform rating for the company in a report on Tuesday, August 28th. National Securities restated a buy rating and set a $19.00 target price on shares of BlackRock TCP Capital in a report on Monday, August 13th. Wells Fargo & Co reduced their target price on shares of BlackRock TCP Capital from $17.00 to $16.00 and set an outperform rating for the company in a report on Thursday, October 4th. Keefe, Bruyette & Woods restated a buy rating and set a $17.00 target price on shares of BlackRock TCP Capital in a report on Wednesday, August 8th. Finally, Zacks Investment Research cut shares of BlackRock TCP Capital from a hold rating to a sell rating in a report on Thursday, July 12th. Three research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $16.92.

Shares of BlackRock TCP Capital stock remained flat at $$13.93 on Friday. 264,499 shares of the stock traded hands, compared to its average volume of 235,394. The firm has a market capitalization of $836.81 million, a PE ratio of 7.00, a PEG ratio of 1.81 and a beta of 0.76. BlackRock TCP Capital has a 12 month low of $13.72 and a 12 month high of $16.62. The company has a debt-to-equity ratio of 0.93, a current ratio of 6.38 and a quick ratio of 6.38.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, August 8th. The investment management company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. BlackRock TCP Capital had a net margin of 32.55% and a return on equity of 11.22%. The business had revenue of $48.42 million during the quarter, compared to analysts’ expectations of $47.46 million. On average, equities research analysts forecast that BlackRock TCP Capital will post 1.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 10.34%. The ex-dividend date was Thursday, September 13th. BlackRock TCP Capital’s payout ratio is 72.36%.

A number of hedge funds and other institutional investors have recently bought and sold shares of TCPC. Great West Life Assurance Co. Can bought a new stake in BlackRock TCP Capital during the first quarter worth $222,000. PNC Financial Services Group Inc. bought a new stake in BlackRock TCP Capital during the first quarter worth $114,000. Legal & General Group Plc raised its position in BlackRock TCP Capital by 17.5% during the first quarter. Legal & General Group Plc now owns 213,868 shares of the investment management company’s stock worth $3,040,000 after acquiring an additional 31,884 shares in the last quarter. Mckinley Capital Management LLC Delaware raised its position in BlackRock TCP Capital by 10.3% during the second quarter. Mckinley Capital Management LLC Delaware now owns 203,626 shares of the investment management company’s stock worth $2,942,000 after acquiring an additional 19,048 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in BlackRock TCP Capital during the second quarter worth $1,418,000. 48.38% 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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