Blackrock Tcp Capital (NASDAQ:TCPC) Downgraded by Zacks Research to Hold

Blackrock Tcp Capital (NASDAQ:TCPC) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also commented on TCPC. Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Wells Fargo & Company decreased their price objective on Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating on the stock in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Blackrock Tcp Capital presently has a consensus rating of “Reduce” and a consensus target price of $6.50.

Blackrock Tcp Capital Stock Performance

Shares of NASDAQ TCPC opened at $4.94 on Wednesday. The company has a market cap of $419.11 million, a P/E ratio of -38.00 and a beta of 0.89. Blackrock Tcp Capital has a 52-week low of $4.88 and a 52-week high of $9.48. The company has a debt-to-equity ratio of 1.42, a quick ratio of 14.55 and a current ratio of 14.55. The firm’s fifty day moving average is $5.62 and its two-hundred day moving average is $6.16.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, November 6th. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Blackrock Tcp Capital had a negative net margin of 4.20% and a positive return on equity of 15.27%. The firm had revenue of $50.52 million for the quarter, compared to analysts’ expectations of $51.01 million. As a group, analysts anticipate that Blackrock Tcp Capital will post 1.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackrock Tcp Capital

Several institutional investors have recently modified their holdings of TCPC. State of Alaska Department of Revenue purchased a new position in shares of Blackrock Tcp Capital in the 3rd quarter worth approximately $25,000. Sound Income Strategies LLC lifted its position in Blackrock Tcp Capital by 188.7% in the fourth quarter. Sound Income Strategies LLC now owns 5,072 shares of the investment management company’s stock worth $29,000 after buying an additional 3,315 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in Blackrock Tcp Capital in the second quarter worth $30,000. MTM Investment Management LLC purchased a new position in Blackrock Tcp Capital during the second quarter worth $46,000. Finally, Blue Trust Inc. bought a new position in Blackrock Tcp Capital during the fourth quarter valued at $59,000.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.