Blackrock Tcp Capital (NASDAQ:TCPC) Downgraded by Wall Street Zen to Hold

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods reduced their price objective on Blackrock Tcp Capital from $8.50 to $7.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company cut their target price on Blackrock Tcp Capital from $7.50 to $6.50 and set an "underweight" rating for the company in a research note on Monday, April 28th.

Blackrock Tcp Capital Price Performance

Shares of TCPC stock traded up $0.03 during trading hours on Friday, hitting $7.90. 368,497 shares of the company's stock were exchanged, compared to its average volume of 600,141. The company has a quick ratio of 34.00, a current ratio of 34.00 and a debt-to-equity ratio of 1.41. The firm has a market cap of $671.82 million, a P/E ratio of -13.62 and a beta of 1.02. The firm has a 50 day moving average of $7.62 and a two-hundred day moving average of $8.00. Blackrock Tcp Capital has a fifty-two week low of $6.27 and a fifty-two week high of $11.03.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Blackrock Tcp Capital had a positive return on equity of 15.51% and a negative net margin of 18.22%. The firm had revenue of $55.89 million during the quarter, compared to the consensus estimate of $57.95 million. Sell-side analysts forecast that Blackrock Tcp Capital will post 1.65 EPS for the current year.

Hedge Funds Weigh In On Blackrock Tcp Capital

A number of hedge funds have recently modified their holdings of the business. Redhawk Wealth Advisors Inc. purchased a new position in shares of Blackrock Tcp Capital during the 2nd quarter worth $822,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Blackrock Tcp Capital by 13.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,656 shares of the investment management company's stock valued at $91,000 after acquiring an additional 1,352 shares during the period. Caxton Associates LLP purchased a new position in Blackrock Tcp Capital during the 1st quarter valued at about $419,000. Jones Financial Companies Lllp raised its position in Blackrock Tcp Capital by 5,349.6% in the 1st quarter. Jones Financial Companies Lllp now owns 93,461 shares of the investment management company's stock valued at $749,000 after purchasing an additional 91,746 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Blackrock Tcp Capital in the 1st quarter valued at about $256,000.

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.