Blackrock Tcp Capital (NASDAQ:TCPC) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• TCPC shares rose above their 200-day moving average, trading as high as $4.21 and last changing hands at $4.08, versus a 200-day average of $3.91.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” and an average price target of $3.75, despite recent upgrades to “Hold” and “Market Perform.”
• The company reported quarterly EPS of $0.22, exceeding estimates, and announced a $0.17 quarterly dividend, equivalent to a 16.7% annualized yield.

Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.91 and traded as high as $4.21. Blackrock Tcp Capital shares last traded at $4.08, with a volume of 646,982 shares.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Blackrock Tcp Capital from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Keefe, Bruyette & Woods upgraded shares of Blackrock Tcp Capital from an "underperform" rating to a "market perform" rating and raised their price target for the stock from $3.50 to $4.00 in a research report on Friday, August 7th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Blackrock Tcp Capital in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $3.75.

Blackrock Tcp Capital Stock Performance

The firm has a fifty day simple moving average of $3.44 and a 200 day simple moving average of $3.91. The company has a current ratio of 33.70, a quick ratio of 21.44 and a debt-to-equity ratio of 1.65. The stock has a market cap of $342.31 million, a price-to-earnings ratio of -3.19 and a beta of 0.94.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The company had revenue of $40.02 million during the quarter, compared to the consensus estimate of $38.36 million. Blackrock Tcp Capital had a positive return on equity of 13.85% and a negative net margin of 61.27%. As a group, sell-side analysts expect that Blackrock Tcp Capital Corp. will post 0.68 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 16.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Blackrock Tcp Capital's dividend payout ratio (DPR) is -53.12%.

Institutional Investors Weigh In On Blackrock Tcp Capital

A number of institutional investors have recently bought and sold shares of the business. Next Capital Management LLC raised its stake in shares of Blackrock Tcp Capital by 11.7% in the 4th quarter. Next Capital Management LLC now owns 2,683,539 shares of the investment management company's stock valued at $14,679,000 after buying an additional 282,123 shares in the last quarter. GatePass Capital LLC acquired a new stake in shares of Blackrock Tcp Capital during the 1st quarter valued at about $1,001,000. Callodine Capital Management LP acquired a new stake in shares of Blackrock Tcp Capital during the 1st quarter valued at about $1,364,000. UBS Group AG increased its stake in Blackrock Tcp Capital by 8.9% in the fourth quarter. UBS Group AG now owns 1,571,451 shares of the investment management company's stock valued at $8,596,000 after acquiring an additional 128,687 shares during the period. Finally, Van Hulzen Asset Management LLC bought a new stake in Blackrock Tcp Capital in the second quarter valued at about $160,000.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.

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