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

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

Several other research firms have also issued reports on TCPC. Wells Fargo & Company lowered their price objective on BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating for the company in a research report on Tuesday, April 8th.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ:TCPC traded down $0.02 during midday trading on Friday, reaching $7.82. 353,694 shares of the company's stock traded hands, compared to its average volume of 588,049. The company has a market cap of $665.00 million, a price-to-earnings ratio of -15.64 and a beta of 1.03. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. BlackRock TCP Capital has a one year low of $6.27 and a one year high of $11.52. The stock has a 50 day moving average of $7.24 and a 200 day moving average of $8.28.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The investment management company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. The business had revenue of $55.89 million during the quarter, compared to analysts' expectations of $57.95 million. As a group, equities research analysts anticipate that BlackRock TCP Capital will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock TCP Capital

In other news, COO Patrick Wolfe bought 6,100 shares of BlackRock TCP Capital stock in a transaction on 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 acquisition, the chief operating officer now directly owns 8,003 shares of the company's stock, valued at $64,984.36. The trade was a 320.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Philip M. Tseng bought 10,000 shares of BlackRock TCP Capital stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $7.74 per share, with a total value of $77,400.00. Following the acquisition, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at approximately $298,663.38. The trade was a 34.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 18,500 shares of company stock worth $146,444. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of hedge funds have recently made changes to their positions in TCPC. Raymond James Financial Inc. purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $886,000. Envestnet Asset Management Inc. boosted its position in shares of BlackRock TCP Capital by 623.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock worth $4,867,000 after buying an additional 481,581 shares during the period. Columbus Macro LLC acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $4,177,000. Virtu Financial LLC acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $329,000. Finally, Samalin Investment Counsel LLC raised its stake in BlackRock TCP Capital by 68.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 105,823 shares of the investment management company's stock valued at $922,000 after buying an additional 42,827 shares in the last quarter.

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.