BidaskClub Upgrades BlackRock TCP Capital (TCPC) to “Hold”

BlackRock TCP Capital (NASDAQ:TCPC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Zacks Investment Research raised shares of BlackRock TCP Capital from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Tuesday, December 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $16.70.

Shares of NASDAQ TCPC opened at $14.87 on Friday. The firm has a market cap of $863.98 million, a PE ratio of 7.47, a PEG ratio of 1.80 and a beta of 0.80. BlackRock TCP Capital has a twelve month low of $12.52 and a twelve month high of $14.98. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.90.

In other news, insider Rajneesh Vig purchased 10,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, December 21st. The shares were bought at an average cost of $12.92 per share, with a total value of $129,200.00. Following the completion of the transaction, the insider now directly owns 49,750 shares in the company, valued at approximately $642,770. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen A. Corbet purchased 3,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, November 30th. The shares were purchased at an average cost of $14.36 per share, for a total transaction of $43,080.00. Following the completion of the transaction, the director now owns 9,000 shares of the company’s stock, valued at $129,240. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 24,000 shares of company stock worth $316,760. Insiders own 11.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of TCPC. Bank of America Corp DE lifted its position in BlackRock TCP Capital by 16.2% in the 2nd quarter. Bank of America Corp DE now owns 376,946 shares of the investment management company’s stock valued at $5,447,000 after acquiring an additional 52,591 shares in the last quarter. California Public Employees Retirement System lifted its position in BlackRock TCP Capital by 38.6% in the 2nd quarter. California Public Employees Retirement System now owns 109,900 shares of the investment management company’s stock valued at $1,588,000 after acquiring an additional 30,600 shares in the last quarter. Northern Trust Corp lifted its position in BlackRock TCP Capital by 30.6% in the 2nd quarter. Northern Trust Corp now owns 26,565 shares of the investment management company’s stock valued at $384,000 after acquiring an additional 6,220 shares in the last quarter. Bank of Montreal Can lifted its position in BlackRock TCP Capital by 24.3% in the 3rd quarter. Bank of Montreal Can now owns 122,000 shares of the investment management company’s stock valued at $1,736,000 after acquiring an additional 23,820 shares in the last quarter. Finally, State Treasurer State of Michigan bought a new stake in BlackRock TCP Capital in the 3rd quarter valued at $342,000. 47.27% of the stock is currently owned by institutional investors and hedge funds.

BlackRock TCP Capital Company Profile

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.

See Also: Liquidity

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