BlackRock TCP Capital (NASDAQ:TCPC) Downgraded by StockNews.com

StockNews.com lowered shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a research note released on Tuesday.

Separately, Oppenheimer dropped 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. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, BlackRock TCP Capital presently has a consensus rating of Hold and an average price target of $10.17.

BlackRock TCP Capital Stock Down 1.3 %

Shares of BlackRock TCP Capital stock traded down $0.12 during midday trading on Tuesday, reaching $9.01. 636,144 shares of the company’s stock traded hands, compared to its average volume of 447,898. The company has a market cap of $771.17 million, a price-to-earnings ratio of 25.74 and a beta of 1.49. BlackRock TCP Capital has a 52 week low of $8.93 and a 52 week high of $12.77. The company has a debt-to-equity ratio of 1.37, a quick ratio of 19.05 and a current ratio of 19.05. The company’s 50 day simple moving average is $10.75 and its 200 day simple moving average is $10.69.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.39 million. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. During the same quarter last year, the firm posted $0.48 EPS. Equities analysts expect that BlackRock TCP Capital will post 1.71 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.34 per share. The ex-dividend date is Monday, September 16th. This represents a $1.36 annualized dividend and a dividend yield of 15.09%. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently 388.57%.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Register Financial Advisors LLC bought a new position in shares of BlackRock TCP Capital in the first quarter worth about $26,000. Morton Brown Family Wealth LLC bought a new position in shares of BlackRock TCP Capital in the fourth quarter worth about $32,000. Future Financial Wealth Managment LLC bought a new position in shares of BlackRock TCP Capital in the first quarter worth about $31,000. International Assets Investment Management LLC bought a new position in shares of BlackRock TCP Capital in the second quarter worth about $60,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of BlackRock TCP Capital during the fourth quarter worth approximately $74,000.

About BlackRock TCP Capital

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.