Blackrock Tcp Capital (NASDAQ:TCPC) Sets New 12-Month Low - Should You Sell?

Key Points

• Blackrock Tcp Capital Corp. shares have hit a new 52-week low at $6.18, with the stock trading last at $6.20 on a volume of 187,415 shares.
• Analysts have downgraded the stock rating from "buy" to "hold," and Wells Fargo set a price target of $6.00, reflecting a bearish sentiment in the market.
• The company recently declared a quarterly dividend of $0.25, which translates into an annual yield of 16.2%, despite its negative payout ratio of -588.24%.

Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $6.18 and last traded at $6.20, with a volume of 187415 shares traded. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TCPC. Wall Street Zen downgraded shares of Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Wells Fargo & Company restated an "underweight" rating and set a $6.00 price target (down previously from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $6.75.

Blackrock Tcp Capital Stock Performance

The company has a market cap of $525.04 million, a PE ratio of -36.32 and a beta of 1.04. The company has a debt-to-equity ratio of 1.59, a quick ratio of 14.07 and a current ratio of 14.06. The firm's 50 day moving average is $7.06 and its 200-day moving average is $7.33.

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 the consensus estimate of $0.34 by ($0.02). Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. The business had revenue of $51.47 million for the quarter, compared to analysts' expectations of $56.16 million. On average, research analysts anticipate that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current fiscal year.

Blackrock Tcp Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 16.2%. Blackrock Tcp Capital's dividend payout ratio is -588.24%.

Institutional Trading of Blackrock Tcp Capital

Hedge funds have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Blackrock Tcp Capital in the 2nd quarter valued at approximately $30,000. MTM Investment Management LLC purchased a new position in shares of Blackrock Tcp Capital during the 2nd quarter worth approximately $46,000. Kingswood Wealth Advisors LLC purchased a new position in shares of Blackrock Tcp Capital during the 1st quarter worth approximately $81,000. PNC Financial Services Group Inc. boosted its position in shares of Blackrock Tcp Capital by 27.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company's stock worth $82,000 after purchasing an additional 2,200 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Blackrock Tcp Capital during the 1st quarter worth approximately $83,000.

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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