BlackRock TCP Capital (NASDAQ:TCPC) Stock Rating Upgraded by BidaskClub

BlackRock TCP Capital (NASDAQ:TCPC) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday, BidAskClub reports.

TCPC has been the topic of several other research reports. Zacks Investment Research cut BlackRock TCP Capital from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a report on Wednesday, August 12th. TheStreet raised BlackRock TCP Capital from a “d+” rating to a “c-” rating in a report on Monday, August 24th. Finally, Raymond James cut BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $11.50.

Shares of NASDAQ TCPC opened at $9.85 on Tuesday. The company has a current ratio of 10.65, a quick ratio of 10.65 and a debt-to-equity ratio of 1.31. The stock has a 50 day simple moving average of $9.90 and a 200-day simple moving average of $9.19. The company has a market cap of $569.01 million, a PE ratio of -109.44 and a beta of 1.60. BlackRock TCP Capital has a 12-month low of $4.02 and a 12-month high of $14.76.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Thursday, August 6th. The investment management company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.06. BlackRock TCP Capital had a positive return on equity of 12.25% and a negative net margin of 3.15%. The firm had revenue of $45.11 million for the quarter, compared to analysts’ expectations of $37.27 million. Sell-side analysts forecast that BlackRock TCP Capital will post 1.37 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of TCPC. Oppenheimer & Co. Inc. grew its position in BlackRock TCP Capital by 7.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 51,317 shares of the investment management company’s stock worth $321,000 after purchasing an additional 3,741 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in BlackRock TCP Capital by 8.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 470,373 shares of the investment management company’s stock worth $4,299,000 after purchasing an additional 38,276 shares in the last quarter. BlackRock Inc. grew its position in BlackRock TCP Capital by 4.6% during the 1st quarter. BlackRock Inc. now owns 325,891 shares of the investment management company’s stock worth $2,037,000 after purchasing an additional 14,479 shares in the last quarter. UBS Group AG grew its position in BlackRock TCP Capital by 41.0% during the 2nd quarter. UBS Group AG now owns 411,952 shares of the investment management company’s stock worth $3,765,000 after purchasing an additional 119,754 shares in the last quarter. Finally, Legal & General Group Plc grew its position in BlackRock TCP Capital by 5.7% during the 1st quarter. Legal & General Group Plc now owns 330,599 shares of the investment management company’s stock worth $2,065,000 after purchasing an additional 17,937 shares in the last quarter. 32.87% of the stock is currently owned by institutional investors.

BlackRock TCP Capital Company Profile

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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Analyst Recommendations for BlackRock TCP Capital (NASDAQ:TCPC)

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