Wall Street Zen Upgrades Blackrock Tcp Capital (NASDAQ:TCPC) to Buy

Blackrock Tcp Capital (NASDAQ:TCPC) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other brokerages also recently commented on TCPC. Keefe, Bruyette & Woods dropped their target price on Blackrock Tcp Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company dropped their target price on Blackrock Tcp Capital from $7.50 to $6.50 and set an “underweight” rating on the stock in a report on Monday, April 28th.

Blackrock Tcp Capital Stock Performance

Blackrock Tcp Capital stock opened at $7.64 on Friday. The stock’s 50-day moving average is $7.44 and its 200-day moving average is $8.07. The company has a market cap of $649.71 million, a price-to-earnings ratio of -13.17 and a beta of 1.03. The company has a debt-to-equity ratio of 1.41, a current ratio of 34.00 and a quick ratio of 34.00. Blackrock Tcp Capital has a 12 month low of $6.27 and a 12 month high of $11.06.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $55.89 million for the quarter, compared to the consensus estimate of $57.95 million. Blackrock Tcp Capital had a positive return on equity of 15.51% and a negative net margin of 18.22%. Equities analysts anticipate that Blackrock Tcp Capital will post 1.65 earnings per share for the current year.

Institutional Investors Weigh In On Blackrock Tcp Capital

Several hedge funds have recently modified their holdings of TCPC. Transcend Capital Advisors LLC increased its holdings in Blackrock Tcp Capital by 2.8% during the 1st quarter. Transcend Capital Advisors LLC now owns 1,472,609 shares of the investment management company’s stock worth $11,796,000 after purchasing an additional 40,153 shares during the last quarter. TrueMark Investments LLC purchased a new stake in Blackrock Tcp Capital during the 4th quarter worth approximately $5,268,000. Envestnet Asset Management Inc. increased its holdings in Blackrock Tcp Capital by 6.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 593,485 shares of the investment management company’s stock worth $4,754,000 after purchasing an additional 34,670 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Blackrock Tcp Capital during the 1st quarter worth approximately $4,514,000. Finally, Columbus Macro LLC increased its holdings in Blackrock Tcp Capital by 7.7% during the 1st quarter. Columbus Macro LLC now owns 516,303 shares of the investment management company’s stock worth $4,136,000 after purchasing an additional 36,692 shares during the last quarter.

About Blackrock Tcp Capital

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.