BlackRock TCP Capital Corp (NASDAQ:TCPC) Receives Average Rating of “Hold” from Brokerages

Shares of BlackRock TCP Capital Corp (NASDAQ:TCPC) have been given a consensus rating of “Hold” by the six analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $17.00.

A number of research firms have issued reports on TCPC. BidaskClub upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. ValuEngine cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Zacks Investment Research cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. TheStreet cut BlackRock TCP Capital from a “b-” rating to a “c” rating in a research report on Friday, August 30th. Finally, Oppenheimer set a $16.00 target price on BlackRock TCP Capital and gave the company a “buy” rating in a research report on Friday, August 9th.

BlackRock TCP Capital stock opened at $14.09 on Monday. BlackRock TCP Capital has a 12-month low of $12.52 and a 12-month high of $14.88. The company has a quick ratio of 2.87, a current ratio of 21.24 and a debt-to-equity ratio of 1.23. The business’s 50-day moving average price is $13.69 and its two-hundred day moving average price is $13.98. The stock has a market cap of $833.89 million, a PE ratio of 8.86, a P/E/G ratio of 2.92 and a beta of 0.68.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.22%. The ex-dividend date is Monday, December 16th. BlackRock TCP Capital’s payout ratio is 90.57%.

In other BlackRock TCP Capital news, CEO Howard Levkowitz purchased 10,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average cost of $13.29 per share, with a total value of $132,900.00. Following the completion of the purchase, the chief executive officer now 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 available through the SEC website. Also, insider Michael E. Leitner purchased 15,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $13.31 per share, for a total transaction of $199,650.00. Following the completion of the purchase, the insider now owns 15,065 shares of the company’s stock, valued at approximately $200,515.15. The disclosure for this purchase can be found here. 0.63% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC increased its holdings in shares of BlackRock TCP Capital by 2.9% during the third quarter. Cetera Advisor Networks LLC now owns 26,937 shares of the investment management company’s stock valued at $364,000 after acquiring an additional 768 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of BlackRock TCP Capital by 1.7% during the third quarter. D.A. Davidson & CO. now owns 273,132 shares of the investment management company’s stock valued at $3,704,000 after acquiring an additional 4,646 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of BlackRock TCP Capital by 38.0% during the third quarter. California Public Employees Retirement System now owns 117,700 shares of the investment management company’s stock valued at $1,595,000 after acquiring an additional 32,400 shares in the last quarter. Jag Capital Management LLC increased its holdings in shares of BlackRock TCP Capital by 1.3% during the third quarter. Jag Capital Management LLC now owns 57,954 shares of the investment management company’s stock valued at $786,000 after acquiring an additional 769 shares in the last quarter. Finally, CWM LLC bought a new stake in shares of BlackRock TCP Capital during the third quarter valued at approximately $136,000. Hedge funds and other institutional investors own 41.44% of the company’s stock.

About BlackRock TCP Capital

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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