Blackrock Capital Investment (NASDAQ:BKCC) Cut to “Strong Sell” at BidaskClub

BidaskClub cut shares of Blackrock Capital Investment (NASDAQ:BKCC) from a sell rating to a strong sell rating in a research report sent to investors on Friday, BidAskClub reports.

Several other equities research analysts have also recently issued reports on the stock. ValuEngine cut 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 note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock currently has a consensus rating of Sell and a consensus price target of $6.25.

Shares of BKCC stock opened at $5.33 on Friday. Blackrock Capital Investment has a 12-month low of $5.06 and a 12-month high of $6.64. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average is $5.81 and its 200 day moving average is $6.06. The stock has a market capitalization of $366.23 million, a P/E ratio of 8.33, a P/E/G ratio of 8.17 and a beta of 0.74.

Blackrock Capital Investment (NASDAQ:BKCC) last issued its earnings results on Wednesday, July 31st. The asset manager reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $20.45 million. As a group, equities analysts predict that Blackrock Capital Investment will post 0.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 10.51%. The ex-dividend date of this dividend is Friday, September 13th. Blackrock Capital Investment’s dividend payout ratio is presently 112.50%.

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

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Blackrock Capital Investment by 66.6% during the 4th quarter. Geode Capital Management LLC now owns 28,927 shares of the asset manager’s stock valued at $153,000 after acquiring an additional 11,564 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Blackrock Capital Investment by 98.4% during the 4th quarter. Bank of America Corp DE now owns 101,043 shares of the asset manager’s stock valued at $535,000 after acquiring an additional 50,120 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Blackrock Capital Investment by 14.9% during the 4th 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 in the last quarter. Bank of Montreal Can boosted its holdings in shares of Blackrock Capital Investment by 10.7% during the 1st 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 in the last quarter. Finally, Osborn Williams & Donohoe LLC acquired a new stake in shares of Blackrock Capital Investment during the 1st quarter valued at $87,000. Institutional investors and hedge funds own 30.62% of the company’s stock.

About Blackrock Capital Investment

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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