StockNews.com Upgrades BlackRock TCP Capital (NASDAQ:TCPC) to Hold

BlackRock TCP Capital (NASDAQ:TCPC) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other research firms also recently weighed in on TCPC. Keefe, Bruyette & Woods cut their price target on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Oppenheimer cut their price target on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, According to MarketBeat, BlackRock TCP Capital has an average rating of “Hold” and a consensus target price of $10.67.

BlackRock TCP Capital Stock Down 0.2 %

NASDAQ:TCPC opened at $10.69 on Friday. The stock’s fifty day moving average price is $10.92 and its two-hundred day moving average price is $10.82. BlackRock TCP Capital has a 52-week low of $9.90 and a 52-week high of $13.00. 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 has a market cap of $914.96 million, a price-to-earnings ratio of 30.54 and a beta of 1.49.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $55.73 million for the quarter, compared to the consensus estimate of $50.99 million. BlackRock TCP Capital had a return on equity of 13.95% and a net margin of 9.69%. During the same quarter in the prior year, the business posted $0.44 EPS. On average, analysts anticipate that BlackRock TCP Capital will post 1.71 EPS for the current year.

Institutional Trading of BlackRock TCP Capital

Large investors have recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of BlackRock TCP Capital by 87.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 185,041 shares of the investment management company’s stock valued at $1,930,000 after buying an additional 86,215 shares in the last quarter. Spire Wealth Management increased its position in shares of BlackRock TCP Capital by 15.6% in the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock valued at $149,000 after buying an additional 1,730 shares in the last quarter. Confluence Investment Management LLC bought a new position in BlackRock TCP Capital during the 1st quarter worth about $4,172,000. Raymond James Financial Services Advisors Inc. increased its holdings in BlackRock TCP Capital by 16.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 188,391 shares of the investment management company’s stock worth $2,174,000 after purchasing an additional 27,105 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in BlackRock TCP Capital by 21.5% during the 4th quarter. Raymond James & Associates now owns 292,417 shares of the investment management company’s stock worth $3,374,000 after purchasing an additional 51,766 shares in 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.