TCPC has been the subject of several other reports. TheStreet cut shares of BlackRock TCP Capital from a b- rating to a c rating in a research report on Friday, August 30th. Oppenheimer set a $16.00 price objective 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 report on Wednesday, July 24th. Zacks Investment Research lowered BlackRock TCP Capital from a hold rating to a sell rating in a research report on Tuesday, August 13th. Finally, National Securities reissued a buy rating and set a $18.00 target price on shares of BlackRock TCP Capital in a research report on Monday, May 13th. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $16.25.
TCPC stock opened at $13.74 on Friday. The company’s 50 day moving average price is $13.65 and its 200 day moving average price is $14.20. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.87 and a current ratio of 2.87. BlackRock TCP Capital has a fifty-two week low of $12.52 and a fifty-two week high of $14.88. The firm has a market capitalization of $803.09 million, a price-to-earnings ratio of 8.64, a PEG ratio of 2.78 and a beta of 0.71.
BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Thursday, August 8th. The investment management company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $48.18 million during the quarter, compared to the consensus estimate of $47.17 million. Equities analysts forecast that BlackRock TCP Capital will post 1.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.36 dividend. 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 news, CEO Howard Levkowitz bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average cost of $13.29 per share, with a total value of $132,900.00. Following the transaction, the chief executive officer now directly owns 135,905 shares in the company, valued at $1,806,177.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael E. Leitner purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average price of $13.31 per share, for a total transaction of $199,650.00. Following the purchase, the insider now directly owns 15,065 shares in the company, valued at $200,515.15. The disclosure for this purchase can be found here. Company insiders own 0.63% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its holdings in shares of BlackRock TCP Capital by 82.7% in the first quarter. Acadian Asset Management LLC now owns 1,412,570 shares of the investment management company’s stock valued at $20,030,000 after acquiring an additional 639,240 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in BlackRock TCP Capital by 3.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,056,953 shares of the investment management company’s stock worth $14,988,000 after purchasing an additional 36,175 shares during the period. Cliffwater LLC boosted its stake in BlackRock TCP Capital by 8.1% during the 2nd quarter. Cliffwater LLC now owns 639,211 shares of the investment management company’s stock worth $9,109,000 after purchasing an additional 48,018 shares during the period. LSV Asset Management boosted its stake in BlackRock TCP Capital by 3.0% during the 2nd quarter. LSV Asset Management now owns 585,130 shares of the investment management company’s stock worth $8,338,000 after purchasing an additional 17,200 shares during the period. Finally, Van ECK Associates Corp grew its position in BlackRock TCP Capital by 4.3% during the 2nd quarter. Van ECK Associates Corp now owns 490,498 shares of the investment management company’s stock worth $6,990,000 after purchasing an additional 20,120 shares during the last quarter. 38.90% 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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