BlackRock TCP Capital (NASDAQ:TCPC) Upgraded to “Hold” at StockNews.com

BlackRock TCP Capital (NASDAQ:TCPC) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.33.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC opened at $6.57 on Friday. BlackRock TCP Capital has a one year low of $6.27 and a one year high of $11.52. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The firm has a market cap of $558.96 million, a price-to-earnings ratio of -13.14 and a beta of 1.21. The stock’s fifty day moving average price is $8.22 and its two-hundred day moving average price is $8.54.

Insiders Place Their Bets

In other BlackRock TCP Capital news, CEO Philip M. Tseng acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the transaction, the chief executive officer now directly owns 38,587 shares in the company, valued at $298,663.38. This represents a 34.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Patrick Wolfe bought 6,100 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the transaction, the chief operating officer now owns 8,003 shares of the company’s stock, valued at approximately $64,984.36. The trade was a 320.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 18,500 shares of company stock worth $146,444 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On BlackRock TCP Capital

Several hedge funds and other institutional investors have recently made changes to their positions in TCPC. Romano Brothers AND Company lifted its stake in BlackRock TCP Capital by 522.7% in the 1st quarter. Romano Brothers AND Company now owns 87,645 shares of the investment management company’s stock valued at $702,000 after purchasing an additional 73,570 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of BlackRock TCP Capital in the 1st quarter valued at $111,000. CF Capital LLC acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at $243,000. Balyasny Asset Management L.P. acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at $177,000. Finally, Jane Street Group LLC grew its position in BlackRock TCP Capital by 291.5% during the 4th quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company’s stock worth $1,243,000 after acquiring an additional 106,257 shares during the last quarter.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.