BlackRock TCP Capital (NASDAQ:TCPC) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a strong sell rating to a sell rating in a research note published on Friday, BidAskClub reports.

TCPC has been the topic of several other research reports. TheStreet upgraded BlackRock TCP Capital from a c+ rating to a b rating in a report on Tuesday, May 28th. Zacks Investment Research lowered BlackRock TCP Capital from a hold rating to a sell rating in a report on Friday, July 12th. ValuEngine lowered BlackRock TCP Capital from a hold rating to a sell rating in a report on Wednesday, July 24th. Finally, National Securities reiterated a buy rating and set a $18.00 price target on shares of BlackRock TCP Capital in a report on Monday, May 13th. Three investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $16.50.

TCPC stock traded up $0.05 during midday trading on Friday, reaching $14.10. The stock had a trading volume of 98,434 shares, compared to its average volume of 228,687. The firm has a fifty day moving average price of $14.22. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.97. The stock has a market cap of $826.84 million, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 2.91 and a beta of 0.70. BlackRock TCP Capital has a 52-week low of $12.52 and a 52-week high of $14.98.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, May 8th. The investment management company reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. BlackRock TCP Capital had a return on equity of 11.27% and a net margin of 21.88%. The business had revenue of $47.54 million for the quarter, compared to analyst estimates of $47.36 million. On average, analysts predict that BlackRock TCP Capital will post 1.61 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Punch & Associates Investment Management Inc. increased its position in shares of BlackRock TCP Capital by 3.5% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 264,918 shares of the investment management company’s stock worth $3,757,000 after purchasing an additional 8,958 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter worth about $240,000. Great West Life Assurance Co. Can increased its position 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 purchasing an additional 2,066 shares during the last quarter. Legal & General Group Plc increased its position in shares of BlackRock TCP Capital by 18.5% during the 4th quarter. Legal & General Group Plc now owns 267,986 shares of the investment management company’s stock worth $3,499,000 after purchasing an additional 41,777 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of BlackRock TCP Capital by 8.9% during the 4th quarter. Bank of America Corp DE now owns 405,430 shares of the investment management company’s stock worth $5,287,000 after purchasing an additional 33,119 shares during the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

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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