Zacks Investment Research lowered shares of BlackRock TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a research note published on Tuesday morning.
According to Zacks, “BlackRock TCP Capital Corp. is an externally-managed non-diversified closed-end management investment company. It focused on middle-market lending. BlackRock TCP Capital Corp., formerly known as TCP Capital Corp., is headquartered in Santa Monica, CA. “
Several other analysts have also issued reports on TCPC. National Securities restated a buy rating and issued a $19.00 price objective on shares of BlackRock TCP Capital in a research note on Monday, November 12th. BidaskClub upgraded BlackRock TCP Capital from a sell rating to a hold rating in a research note on Thursday, November 22nd. Finally, ValuEngine upgraded BlackRock TCP Capital from a sell rating to a hold rating in a research note on Wednesday, December 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $16.50.
NASDAQ:TCPC opened at $14.43 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.01 and a current ratio of 2.01. The company has a market capitalization of $839.82 million, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.82 and a beta of 0.80. BlackRock TCP Capital has a 12-month low of $12.52 and a 12-month high of $14.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.44 annualized dividend and a yield of 9.98%. BlackRock TCP Capital’s dividend payout ratio is 90.57%.
In other news, insider Rajneesh Vig bought 10,000 shares of the stock in a transaction dated Friday, December 21st. The shares were bought at an average price of $12.92 per share, for a total transaction of $129,200.00. Following the completion of the purchase, the insider now owns 49,750 shares in the company, valued at $642,770. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Howard Levkowitz bought 5,000 shares of the stock in a transaction dated Friday, December 21st. The shares were purchased at an average price of $12.88 per share, for a total transaction of $64,400.00. Following the purchase, the chief executive officer now owns 124,144 shares of the company’s stock, valued at approximately $1,598,974.72. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 19,000 shares of company stock worth $245,200. 11.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TCPC. Acadian Asset Management LLC increased its stake in shares of BlackRock TCP Capital by 980.6% during the fourth quarter. Acadian Asset Management LLC now owns 773,330 shares of the investment management company’s stock worth $10,087,000 after purchasing an additional 701,767 shares during the period. Cliffwater LLC increased its stake in shares of BlackRock TCP Capital by 50.1% during the fourth quarter. Cliffwater LLC now owns 757,585 shares of the investment management company’s stock worth $9,879,000 after purchasing an additional 252,934 shares during the period. Dubuque Bank & Trust Co. bought a new position in shares of BlackRock TCP Capital during the fourth quarter worth approximately $1,686,000. Millennium Management LLC increased its stake in shares of BlackRock TCP Capital by 31.8% during the fourth quarter. Millennium Management LLC now owns 484,972 shares of the investment management company’s stock worth $6,324,000 after purchasing an additional 117,106 shares during the period. Finally, Bramshill Investments LLC bought a new position in shares of BlackRock TCP Capital during the third quarter worth approximately $1,506,000. Institutional investors own 47.27% of the company’s stock.
BlackRock TCP Capital Company Profile
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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