Wall Street Zen Upgrades BlackRock TCP Capital (NASDAQ:TCPC) to Buy

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Thursday.

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

BlackRock TCP Capital Stock Up 1.9%

Shares of TCPC traded up $0.15 during midday trading on Thursday, hitting $7.84. The stock had a trading volume of 218,076 shares, compared to its average volume of 588,764. The firm has a market cap of $666.27 million, a price-to-earnings ratio of -15.67 and a beta of 1.03. The company has a 50 day simple moving average of $7.24 and a two-hundred day simple moving average of $8.30. 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 has a twelve month low of $6.27 and a twelve month high of $11.52.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last posted 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. On average, analysts anticipate that BlackRock TCP Capital will post 1.65 EPS for the current year.

Insider Transactions at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Philip M. Tseng bought 10,000 shares of the business's stock in a transaction 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 purchase, the chief executive officer now owns 38,587 shares in the company, valued at approximately $298,663.38. This trade represents a 34.98% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Wolfe purchased 6,100 shares of the company's stock in a transaction dated Friday, March 14th. The stock was purchased at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the purchase, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. The trade was a 320.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 18,500 shares of company stock worth $146,444. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC bought a new stake in shares of BlackRock TCP Capital in the fourth quarter worth about $38,000. Tower Research Capital LLC TRC boosted its position in shares of BlackRock TCP Capital by 177.2% during the fourth 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 purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $70,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of BlackRock TCP Capital in the first quarter valued at approximately $81,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of BlackRock TCP Capital by 27.5% in 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 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.