Blackrock Tcp Capital (NASDAQ:TCPC) Price Target Raised to $4.50

Blackrock Tcp Capital (NASDAQ:TCPC) had its price objective hoisted by Wells Fargo & Company from $4.00 to $4.50 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the investment management company’s stock.

A number of other research analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Blackrock Tcp Capital in a research report on Friday, August 28th. Keefe, Bruyette & Woods raised shares of Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and raised their price target for the company from $3.50 to $4.00 in a report on Friday, August 7th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Blackrock Tcp Capital presently has a consensus rating of “Reduce” and an average target price of $4.25.

Blackrock Tcp Capital Stock Up 0.5%

Shares of NASDAQ TCPC opened at $4.15 on Monday. Blackrock Tcp Capital has a 12-month low of $3.08 and a 12-month high of $6.25. The company has a market cap of $348.19 million, a P/E ratio of -1.75 and a beta of 0.98. The company has a current ratio of 30.47, a quick ratio of 30.46 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average price of $4.07 and a 200 day moving average price of $3.96.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, November 5th. The investment management company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Blackrock Tcp Capital had a positive return on equity of 12.86% and a negative net margin of 128.77%. The company had revenue of $28.48 million for the quarter, compared to analysts’ expectations of $27.51 million. Research analysts anticipate that Blackrock Tcp Capital will post 0.66 EPS for the current fiscal year.

Blackrock Tcp Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 16.4%. The ex-dividend date is Thursday, December 17th. Blackrock Tcp Capital’s dividend payout ratio is presently -28.69%.

Institutional Trading of Blackrock Tcp Capital

Several hedge funds have recently bought and sold shares of the company. Next Capital Management LLC bought a new position in Blackrock Tcp Capital in the 2nd quarter worth approximately $10,518,000. Van ECK Associates Corp boosted its position in Blackrock Tcp Capital by 26.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,096,604 shares of the investment management company’s stock worth $7,045,000 after acquiring an additional 442,735 shares during the period. Legal & General Group Plc acquired a new position in Blackrock Tcp Capital during the 2nd quarter worth $2,245,000. Barings LLC boosted its position in Blackrock Tcp Capital by 4.5% during the 1st quarter. Barings LLC now owns 564,991 shares of the investment management company’s stock worth $2,040,000 after acquiring an additional 24,376 shares during the period. Finally, BlackRock Inc. acquired a new position in Blackrock Tcp Capital during the 2nd quarter worth $1,540,000.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp. is a business development company that provides financing to middle-market businesses, primarily through privately negotiated investments. Its portfolio focuses on debt investments, including senior secured loans and subordinated debt, and may also include equity-related investments. The company primarily serves businesses in the United States, offering capital to companies that may need financing for growth, acquisitions, or other corporate purposes. Its investment approach emphasizes lending directly to borrowers across a range of industries.