BlackRock TCP Capital (NASDAQ:TCPC) Rating Lowered to Strong Sell at BidaskClub

BlackRock TCP Capital (NASDAQ:TCPC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday, BidAskClub reports.

A number of other research firms have also recently commented on TCPC. Zacks Investment Research cut Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. National Securities reiterated a “sell” rating and set a $4.00 price objective on shares of Prospect Capital in a research report on Monday, May 13th. Finally, TheStreet upgraded BlackRock TCP Capital from a “c+” rating to a “b” rating in a research report on Tuesday, May 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.50.

BlackRock TCP Capital stock opened at $14.28 on Friday. The stock has a market capitalization of $835.65 million, a PE ratio of 8.98, a PEG ratio of 2.94 and a beta of 0.71. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.75 and a current ratio of 3.75. BlackRock TCP Capital has a one year low of $12.52 and a one year high of $14.98. The firm’s fifty day moving average price is $14.39.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Wednesday, May 8th. The investment management company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The company had revenue of $47.54 million during the quarter, compared to analysts’ expectations of $47.36 million. BlackRock TCP Capital had a return on equity of 11.27% and a net margin of 21.88%. Equities research analysts anticipate that BlackRock TCP Capital will post 1.61 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of BlackRock TCP Capital by 8.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,042 shares of the investment management company’s stock worth $261,000 after buying an additional 1,511 shares in the last quarter. Royce & Associates LP bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth approximately $1,312,000. Advisor Group Inc. boosted its holdings in shares of BlackRock TCP Capital by 169.4% during the 4th quarter. Advisor Group Inc. now owns 54,224 shares of the investment management company’s stock worth $708,000 after buying an additional 34,098 shares in the last quarter. Standard Life Aberdeen plc bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth approximately $707,000. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of BlackRock TCP Capital by 13.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 17,559 shares of the investment management company’s stock worth $221,000 after buying an additional 2,066 shares in the last quarter. Institutional investors and hedge funds own 42.78% 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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