BlackRock TCP Capital (NASDAQ:TCPC) Price Target Raised to $8.00

BlackRock TCP Capital (NASDAQ:TCPC) had its price target boosted by Wells Fargo & Company from $7.50 to $8.00 in a report published on Thursday,Benzinga reports. They currently have an underweight rating on the investment management company’s stock.

A number of other research analysts have also recently issued reports on the company. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods lowered their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.00.

BlackRock TCP Capital Stock Performance

Shares of BlackRock TCP Capital stock opened at $8.66 on Thursday. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $12.43. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 44.47. The business has a fifty day simple moving average of $8.43 and a two-hundred day simple moving average of $9.72.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. The business had revenue of $70.93 million for the quarter, compared to the consensus estimate of $69.13 million. During the same period in the previous year, the firm earned $0.49 EPS. On average, research analysts expect that BlackRock TCP Capital will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 20.32%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -271.99%.

Insiders Place Their Bets

In related news, Director Philip M. Tseng purchased 5,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $9.07 per share, with a total value of $45,350.00. Following the acquisition, the director now directly owns 17,481 shares in the company, valued at $158,552.67. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Philip M. Tseng bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the acquisition, the director now owns 17,481 shares of the company’s stock, valued at $158,552.67. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Philip M. Tseng bought 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $9.10 per share, with a total value of $91,000.00. Following the transaction, the director now owns 27,481 shares in the company, valued at $250,077.10. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 42,000 shares of company stock valued at $381,875. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC increased its position in shares of BlackRock TCP Capital by 22.2% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock valued at $90,000 after purchasing an additional 1,970 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in BlackRock TCP Capital during the third quarter valued at approximately $25,000. LSV Asset Management increased its holdings in BlackRock TCP Capital by 1.1% during the first quarter. LSV Asset Management now owns 281,447 shares of the investment management company’s stock valued at $2,935,000 after buying an additional 3,147 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of BlackRock TCP Capital during the 2nd quarter worth $60,000. Finally, Pathway Financial Advisers LLC boosted its stake in shares of BlackRock TCP Capital by 729.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after acquiring an additional 6,379 shares during the last quarter.

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.