According to Zacks, “BlackRock Kelso Capital Corporation provides responsive, creative and flexible capital solutions to middle-market companies. BlackRock Kelso Capital provides middle-market companies with flexible financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities. The Companies strategy is to provide capital to meet our clients’ current and future needs across this spectrum, creating long-term partnerships with growing middle-market companies. “
Other equities analysts have also recently issued reports about the company. BidaskClub cut Blackrock Capital Investment from a sell rating to a strong sell rating in a report on Friday, August 16th. ValuEngine cut Blackrock Capital Investment from a hold rating to a sell rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock has a consensus rating of Sell and an average target price of $6.25.
Blackrock Capital Investment (NASDAQ:BKCC) last issued its earnings results on Wednesday, July 31st. The asset manager reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). The company had revenue of $19.66 million during the quarter, compared to analyst estimates of $20.45 million. Blackrock Capital Investment had a positive return on equity of 9.42% and a negative net margin of 6.24%. As a group, analysts anticipate that Blackrock Capital Investment will post 0.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 10.65%. The ex-dividend date of this dividend is Friday, September 13th. Blackrock Capital Investment’s payout ratio is 112.50%.
In related news, Director Mark S. Lies bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $5.19 per share, for a total transaction of $259,500.00. Following the acquisition, the director now directly owns 230,000 shares of the company’s stock, valued at approximately $1,193,700. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Pungello purchased 6,500 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $5.60 per share, for a total transaction of $36,400.00. Following the acquisition, the chief financial officer now directly owns 19,583 shares of the company’s stock, valued at approximately $109,664.80. The disclosure for this purchase can be found here. Insiders purchased a total of 106,500 shares of company stock worth $559,900 over the last 90 days. Insiders own 1.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Virtus ETF Advisers LLC purchased a new position in shares of Blackrock Capital Investment during the second quarter valued at $4,387,000. Van ECK Associates Corp grew its holdings in shares of Blackrock Capital Investment by 10.1% during the second quarter. Van ECK Associates Corp now owns 645,564 shares of the asset manager’s stock valued at $3,893,000 after buying an additional 59,408 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Blackrock Capital Investment by 10.7% during the first quarter. Bank of Montreal Can now owns 581,000 shares of the asset manager’s stock valued at $3,480,000 after buying an additional 56,000 shares in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Blackrock Capital Investment by 83.8% during the second quarter. Susquehanna International Group LLP now owns 235,922 shares of the asset manager’s stock valued at $1,423,000 after buying an additional 107,552 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Blackrock Capital Investment by 98.4% during the fourth quarter. Bank of America Corp DE now owns 101,043 shares of the asset manager’s stock valued at $535,000 after buying an additional 50,120 shares in the last quarter. Institutional investors and hedge funds own 30.62% of the company’s stock.
About Blackrock Capital Investment
BlackRock Capital Investment Corporation, formerly known as BlackRock Kelso Capital Corporation, is a Business Development Company specializing in investments in middle market companies. The fund invests in all industries. It prefers to invest between $10 million and $50 million and can invest more or less in companies with EBITDA or operating cash flow between $10 million and $50 million.
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