BlackRock TCP Capital (NASDAQ:TCPC) Downgraded by BidaskClub

BidaskClub downgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a research note released on Wednesday morning, BidAskClub reports.

Other analysts have also issued research reports about the stock. National Securities restated a buy rating and issued a $18.00 price target on shares of BlackRock TCP Capital in a research note on Monday, May 13th. Zacks Investment Research lowered shares of BlackRock TCP Capital from a hold rating to a sell rating in a research note on Wednesday, May 1st. Finally, TheStreet upgraded shares of BlackRock TCP Capital from a c+ rating to a b rating in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. BlackRock TCP Capital currently has a consensus rating of Hold and a consensus target price of $16.50.

Shares of NASDAQ:TCPC opened at $14.43 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.75 and a quick ratio of 3.75. The firm has a market capitalization of $847.40 million, a P/E ratio of 9.08, a P/E/G ratio of 2.98 and a beta of 0.75. BlackRock TCP Capital has a 12-month low of $12.52 and a 12-month high of $14.98.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, May 8th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $47.54 million during the quarter, compared to analyst estimates of $47.36 million. BlackRock TCP Capital had a net margin of 21.88% and a return on equity of 11.27%. Equities research analysts predict that BlackRock TCP Capital will post 1.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 annualized dividend and a yield of 9.98%. BlackRock TCP Capital’s payout ratio is 90.57%.

A number of hedge funds have recently added to or reduced their stakes in TCPC. Spectrum Management Group Inc. bought a new stake in BlackRock TCP Capital during the first quarter valued at $142,000. Sheaff Brock Investment Advisors LLC bought a new stake in BlackRock TCP Capital during the first quarter valued at $147,000. Trexquant Investment LP increased its stake in BlackRock TCP Capital by 14.5% during the first quarter. Trexquant Investment LP now owns 12,494 shares of the investment management company’s stock valued at $177,000 after purchasing an additional 1,582 shares during the last quarter. CFO4Life Group LLC increased its stake in BlackRock TCP Capital by 20.1% during the first quarter. CFO4Life Group LLC now owns 14,049 shares of the investment management company’s stock valued at $199,000 after purchasing an additional 2,356 shares during the last quarter. Finally, Wiley BROS. Aintree Capital LLC bought a new stake in BlackRock TCP Capital during the fourth quarter valued at $209,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

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.

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