BlackRock TCP Capital (NASDAQ:TCPC) Downgraded to Hold Rating by Wall Street Zen

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating on the stock in a report on Monday, April 28th.

BlackRock TCP Capital Price Performance

Shares of BlackRock TCP Capital stock traded down $0.02 on Friday, hitting $7.79. The company had a trading volume of 289,556 shares, compared to its average volume of 584,837. BlackRock TCP Capital has a 52 week low of $6.27 and a 52 week high of $11.52. The company has a market cap of $662.45 million, a PE ratio of -15.58 and a beta of 1.03. The business has a 50-day simple moving average of $7.23 and a 200-day simple moving average of $8.27. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The business had revenue of $55.89 million during the quarter, compared to analyst estimates of $57.95 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. Research analysts expect that BlackRock TCP Capital will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In other BlackRock TCP Capital news, COO Patrick Wolfe bought 6,100 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was acquired at an average price of $8.12 per share, with a total value of $49,532.00. Following the completion of the transaction, the chief operating officer now directly owns 8,003 shares in the company, valued at approximately $64,984.36. This represents a 320.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Philip M. Tseng purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the transaction, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at $298,663.38. This trade represents a 34.98% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 18,500 shares of company stock valued at $146,444. Company insiders own 0.21% of the company's stock.

Institutional Trading of BlackRock TCP Capital

Several institutional investors have recently made changes to their positions in TCPC. Tower Research Capital LLC TRC increased its stake in BlackRock TCP Capital by 177.2% in the 4th 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 acquired a new position in shares of BlackRock TCP Capital in the fourth quarter worth $70,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of BlackRock TCP Capital during the first quarter worth $81,000. PNC Financial Services Group Inc. boosted its position in BlackRock TCP Capital by 27.5% during the first quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company's stock valued at $82,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in BlackRock TCP Capital in the first quarter valued at about $83,000.

BlackRock TCP Capital Company Profile

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.