Blackrock Capital Investment (NASDAQ:BKCC) Rating Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of Blackrock Capital Investment (NASDAQ:BKCC) from a sell rating to a strong sell rating in a research note published on Friday, BidAskClub reports.

BKCC has been the subject of a number of other reports. ValuEngine downgraded shares of Blackrock Capital Investment from a hold rating to a sell rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of Blackrock Capital Investment from a sell rating to a hold rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company presently has an average rating of Sell and an average price target of $6.25.

Shares of NASDAQ BKCC traded up $0.09 during mid-day trading on Friday, reaching $5.28. 321,100 shares of the company were exchanged, compared to its average volume of 422,125. Blackrock Capital Investment has a 52 week low of $5.06 and a 52 week high of $6.64. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $360.01 million, a PE ratio of 8.25, a PEG ratio of 8.24 and a beta of 0.74. The company’s 50 day moving average price is $5.85 and its 200 day moving average price is $6.07.

Blackrock Capital Investment (NASDAQ:BKCC) last posted its quarterly earnings data on Wednesday, July 31st. The asset manager reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Blackrock Capital Investment had a positive return on equity of 9.42% and a negative net margin of 6.24%. The company had revenue of $19.66 million for the quarter, compared to the consensus estimate of $20.45 million. On average, sell-side analysts predict that Blackrock Capital Investment will post 0.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 10.61%. The ex-dividend date is Friday, September 13th. Blackrock Capital Investment’s payout ratio is presently 112.50%.

In other Blackrock Capital Investment news, CFO Michael Pungello bought 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $5.60 per share, for a total transaction of $36,400.00. Following the transaction, the chief financial officer now directly owns 19,583 shares in the company, valued at $109,664.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark S. Lies bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $5.19 per share, for a total transaction of $259,500.00. Following the transaction, the director now owns 230,000 shares in the company, valued at $1,193,700. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Virtus ETF Advisers LLC purchased a new position in shares of Blackrock Capital Investment in the second quarter valued at about $4,387,000. Van ECK Associates Corp increased its position in shares of Blackrock Capital Investment by 10.1% in the second quarter. Van ECK Associates Corp now owns 645,564 shares of the asset manager’s stock valued at $3,893,000 after acquiring an additional 59,408 shares during the period. Bank of Montreal Can increased its position in shares of Blackrock Capital Investment by 10.7% in the first quarter. Bank of Montreal Can now owns 581,000 shares of the asset manager’s stock valued at $3,480,000 after acquiring an additional 56,000 shares during the period. Legal & General Group Plc increased its position in shares of Blackrock Capital Investment by 14.9% in the fourth quarter. Legal & General Group Plc now owns 323,580 shares of the asset manager’s stock valued at $1,723,000 after acquiring an additional 41,943 shares during the period. Finally, Susquehanna International Group LLP increased its position in shares of Blackrock Capital Investment by 83.8% in the second quarter. Susquehanna International Group LLP now owns 235,922 shares of the asset manager’s stock valued at $1,423,000 after acquiring an additional 107,552 shares during the period. Hedge funds and other institutional investors own 30.92% of the company’s stock.

Blackrock Capital Investment Company Profile

BlackRock Capital Investment Corporation, formerly known as BlackRock Kelso Capital Corporation, is a Business Development Company specializing in investments in middle market companies. The fund invests in all industries. It prefers to invest between $10 million and $50 million and can invest more or less in companies with EBITDA or operating cash flow between $10 million and $50 million.

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