BlackRock TCP Capital (NASDAQ:TCPC) Price Target Lowered to $6.50 at Wells Fargo & Company

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $7.50 to $6.50 in a report issued on Monday,Benzinga reports. The firm presently has an "underweight" rating on the investment management company's stock. Wells Fargo & Company's price objective points to a potential downside of 8.13% from the company's previous close.

A number of other analysts also recently issued reports on TCPC. StockNews.com upgraded shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th. Keefe, Bruyette & Woods lowered their target price on shares of 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. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $8.00.

BlackRock TCP Capital Stock Performance

TCPC traded up $0.06 on Monday, reaching $7.08. The stock had a trading volume of 59,757 shares, compared to its average volume of 570,756. The company has a market cap of $601.92 million, a P/E ratio of -14.17 and a beta of 1.21. The business's 50-day moving average price is $7.74 and its two-hundred day moving average price is $8.45. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a 12-month low of $6.27 and a 12-month high of $11.52.

Insider Activity

In related news, COO Patrick Wolfe purchased 6,100 shares of the company's stock in a transaction on Friday, March 14th. The shares were bought at an average cost 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 $64,984.36. This represents a 320.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Philip M. Tseng purchased 10,000 shares of the company's stock in a transaction on Friday, March 21st. The stock was bought at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the acquisition, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at $298,663.38. This represents a 34.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 18,500 shares of company stock worth $146,444 over the last 90 days. Company insiders own 0.16% of the company's stock.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of large investors have recently made changes to their positions in TCPC. Avior Wealth Management LLC purchased a new position in BlackRock TCP Capital during the 4th quarter worth approximately $38,000. McIlrath & Eck LLC purchased a new position in shares of BlackRock TCP Capital during the third quarter valued at $46,000. Tower Research Capital LLC TRC raised its position in BlackRock TCP Capital by 177.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company's stock valued at $48,000 after buying an additional 3,508 shares during the period. Transce3nd LLC purchased a new stake in BlackRock TCP Capital in the 4th quarter worth about $70,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in BlackRock TCP Capital during the 1st quarter worth about $81,000.

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.

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