Blackrock Tcp Capital (NASDAQ:TCPC) Reaches New 12-Month Low - Here's Why

Key Points

• Blackrock Tcp Capital's stock price dipped to a new 52-week low, trading as low as $5.96 during mid-day trading, with a last recorded price of $6.01.
• Wall Street analysts have a consensus rating of Sell on Blackrock Tcp Capital, with a target price of $6.75 after multiple firms adjusted their ratings, including Wells Fargo and Wall Street Zen.
• The company recently reported a quarterly earnings miss with an EPS of $0.32, lower than the consensus estimate of $0.34, and announced a quarterly dividend yielding 16.8%.

Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $5.96 and last traded at $6.01, with a volume of 312013 shares changing hands. The stock had previously closed at $6.05.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TCPC. Wells Fargo & Company reaffirmed an "underweight" rating and set a $6.00 target price (down from $6.50) on shares of Blackrock Tcp Capital in a report on Tuesday, August 12th. Wall Street Zen cut Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Blackrock Tcp Capital in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Blackrock Tcp Capital presently has an average rating of "Sell" and a consensus target price of $6.75.

Blackrock Tcp Capital Stock Performance

The stock has a fifty day simple moving average of $6.91 and a 200-day simple moving average of $7.27. The company has a quick ratio of 14.07, a current ratio of 14.06 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $505.54 million, a P/E ratio of -35.03 and a beta of 1.04.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). The business had revenue of $51.47 million during the quarter, compared to the consensus estimate of $56.16 million. Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. Equities analysts forecast that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Blackrock Tcp Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 16.8%. Blackrock Tcp Capital's payout ratio is presently -588.24%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Merit Financial Group LLC bought a new stake in shares of Blackrock Tcp Capital in the first quarter worth $111,000. Curated Wealth Partners LLC increased its stake in shares of Blackrock Tcp Capital by 35.0% in the first quarter. Curated Wealth Partners LLC now owns 38,587 shares of the investment management company's stock valued at $309,000 after buying an additional 10,000 shares during the period. GraniteShares Advisors LLC raised its position in shares of Blackrock Tcp Capital by 6.5% during the first quarter. GraniteShares Advisors LLC now owns 299,846 shares of the investment management company's stock worth $2,402,000 after acquiring an additional 18,170 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Blackrock Tcp Capital during the first quarter worth about $83,000. Finally, Columbus Macro LLC increased its position in shares of Blackrock Tcp Capital by 7.7% during the first quarter. Columbus Macro LLC now owns 516,303 shares of the investment management company's stock worth $4,136,000 after buying an additional 36,692 shares during the period.

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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