BlackRock TCP Capital (NASDAQ:TCPC) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

BlackRock TCP Capital (NASDAQ:TCPC) had its price target upped by equities researchers at Wells Fargo & Company from $7.50 to $8.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 7.62% from the company’s current price.

Several other equities analysts also recently commented on the company. Keefe, Bruyette & Woods cut their target price 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. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, StockNews.com downgraded 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 issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Stock Performance

TCPC opened at $8.66 on Thursday. The stock’s 50 day moving average price is $8.43 and its two-hundred day moving average price is $9.72. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. BlackRock TCP Capital has a 12-month low of $7.71 and a 12-month high of $12.43. The firm has a market capitalization of $741.22 million, a P/E ratio of -17.32 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). BlackRock TCP Capital had a positive return on equity of 14.28% and a negative net margin of 15.22%. The firm had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. During the same quarter in the prior year, the business posted $0.49 EPS. On average, equities analysts forecast that BlackRock TCP Capital will post 1.66 earnings per share for the current year.

Insider Buying and Selling at BlackRock TCP Capital

In other news, CEO Rajneesh Vig bought 25,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was bought at an average cost of $9.09 per share, with a total value of $227,250.00. Following the purchase, the chief executive officer now owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Philip M. Tseng bought 5,000 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $9.07 per share, with a total value of $45,350.00. Following the purchase, the director now owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rajneesh Vig bought 25,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was purchased at an average cost of $9.09 per share, with a total value of $227,250.00. Following the completion of the purchase, the chief executive officer now directly owns 130,930 shares in the company, valued at approximately $1,190,153.70. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 42,000 shares of company stock worth $381,875. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

Institutional investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth $25,000. International Assets Investment Management LLC acquired a new position in BlackRock TCP Capital in the second quarter valued at about $60,000. Pathway Financial Advisers LLC lifted its holdings in shares of BlackRock TCP Capital by 729.0% in the third quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock valued at $60,000 after purchasing an additional 6,379 shares in the last quarter. MeadowBrook Investment Advisors LLC lifted its holdings in shares of BlackRock TCP Capital by 22.2% in the third 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 in the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in shares of BlackRock TCP Capital in the third quarter valued at about $100,000.

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.