BlackRock TCP Capital (NASDAQ:TCPC) Trading Down 6.4%

BlackRock TCP Capital Corp. (NASDAQ:TCPC)’s share price dropped 6.4% during trading on Wednesday . The company traded as low as $9.25 and last traded at $9.31. Approximately 487,746 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 432,428 shares. The stock had previously closed at $9.95.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TCPC shares. Oppenheimer cut their price objective on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.67.

BlackRock TCP Capital Stock Performance

The company has a quick ratio of 19.05, a current ratio of 19.05 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average of $10.86 and a two-hundred day moving average of $10.73. The company has a market capitalization of $785.73 million, a PE ratio of 26.57 and a beta of 1.49.

Institutional Trading of BlackRock TCP Capital

Several institutional investors have recently bought and sold shares of TCPC. Van ECK Associates Corp grew its position in shares of BlackRock TCP Capital by 17.0% in the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after purchasing an additional 284,802 shares during the period. Transcend Capital Advisors LLC lifted its position in shares of BlackRock TCP Capital by 61.5% in the second quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after acquiring an additional 297,393 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of BlackRock TCP Capital by 12.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock worth $5,442,000 after acquiring an additional 54,786 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of BlackRock TCP Capital by 7.6% during the second quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock worth $5,057,000 after purchasing an additional 33,147 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in BlackRock TCP Capital by 1,054.0% in the 4th quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock valued at $4,754,000 after purchasing an additional 376,278 shares during the last quarter.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.