BidaskClub Lowers BlackRock TCP Capital (NASDAQ:TCPC) to Strong Sell

BidaskClub cut shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a strong sell rating in a research report sent to investors on Saturday, BidAskClub reports.

Several other equities analysts also recently weighed in on TCPC. Oppenheimer set a $16.00 price target on BlackRock TCP Capital and gave the stock a buy rating in a research report on Friday, August 9th. ValuEngine downgraded BlackRock TCP Capital from a hold rating to a sell rating in a research report on Wednesday, July 24th. Zacks Investment Research lowered BlackRock TCP Capital from a hold rating to a sell rating in a research note on Tuesday, August 13th. TheStreet lowered BlackRock TCP Capital from a b- rating to a c rating in a research note on Friday, August 30th. Finally, National Securities reiterated a buy rating and set a $18.00 price objective on shares of BlackRock TCP Capital in a research report on Monday, May 13th. Three equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $16.25.

Shares of NASDAQ TCPC opened at $13.74 on Friday. The firm’s 50-day moving average is $13.65 and its two-hundred day moving average is $14.20. The company has a market capitalization of $803.09 million, a PE ratio of 8.64, a price-to-earnings-growth ratio of 2.78 and a beta of 0.71. BlackRock TCP Capital has a 12-month low of $12.52 and a 12-month high of $14.88. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.87 and a quick ratio of 2.87.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. BlackRock TCP Capital had a net margin of 14.19% and a return on equity of 11.45%. The business had revenue of $48.18 million during the quarter, compared to analysts’ expectations of $47.17 million. On average, analysts forecast that BlackRock TCP Capital will post 1.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 10.48%. The ex-dividend date of this dividend is Friday, September 13th. BlackRock TCP Capital’s payout ratio is 90.57%.

In other BlackRock TCP Capital news, insider Michael E. Leitner bought 15,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $13.31 per share, for a total transaction of $199,650.00. Following the completion of the transaction, the insider now owns 15,065 shares of the company’s stock, valued at approximately $200,515.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Howard Levkowitz bought 10,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average price of $13.29 per share, for a total transaction of $132,900.00. Following the completion of the transaction, the chief executive officer now directly owns 135,905 shares of the company’s stock, valued at approximately $1,806,177.45. The disclosure for this purchase can be found here. 0.63% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Capital Management LLC acquired a new position in shares of BlackRock TCP Capital during the 2nd quarter valued at about $5,481,000. Invesco Ltd. boosted its position in shares of BlackRock TCP Capital by 66.0% in the second quarter. Invesco Ltd. now owns 217,895 shares of the investment management company’s stock worth $3,105,000 after acquiring an additional 86,616 shares during the last quarter. Virtus ETF Advisers LLC acquired a new stake in shares of BlackRock TCP Capital in the second quarter worth approximately $3,527,000. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in BlackRock TCP Capital by 101.4% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 58,600 shares of the investment management company’s stock valued at $835,000 after purchasing an additional 29,500 shares during the period. Finally, Cliffwater LLC grew its holdings in BlackRock TCP Capital by 8.1% in the second quarter. Cliffwater LLC now owns 639,211 shares of the investment management company’s stock valued at $9,109,000 after purchasing an additional 48,018 shares during the period. Institutional investors own 38.90% of the company’s stock.

About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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