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

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

A number of other analysts have also weighed in on TCPC. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company reduced their price target on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating for the company in a research report on Monday, April 28th.

BlackRock TCP Capital Stock Up 0.1%

Shares of TCPC traded up $0.01 during mid-day trading on Thursday, reaching $7.62. The company had a trading volume of 79,454 shares, compared to its average volume of 587,292. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The company has a market capitalization of $647.56 million, a price-to-earnings ratio of -15.23 and a beta of 1.03. The firm has a 50-day moving average price of $7.24 and a 200 day moving average price of $8.32. BlackRock TCP Capital has a 52 week low of $6.27 and a 52 week high of $11.52.

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 (EPS) for the quarter, beating 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, sell-side analysts forecast that BlackRock TCP Capital will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Philip M. Tseng purchased 10,000 shares of the company's stock in a transaction dated Friday, March 21st. The shares were purchased 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 directly owns 38,587 shares in the company, valued at approximately $298,663.38. This represents a 34.98% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Patrick Wolfe acquired 6,100 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average price of $8.12 per share, with a total value of $49,532.00. Following the transaction, the chief operating officer now owns 8,003 shares of the company's stock, valued at $64,984.36. The trade was a 320.55% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 18,500 shares of company stock valued at $146,444. Company insiders own 0.16% of the company's stock.

Institutional Trading of BlackRock TCP Capital

Several large investors have recently added to or reduced their stakes in the business. Bartlett & CO. Wealth Management LLC grew its position in shares of BlackRock TCP Capital by 33.3% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 16,000 shares of the investment management company's stock valued at $139,000 after acquiring an additional 4,000 shares during the period. Avior Wealth Management LLC bought a new position in BlackRock TCP Capital in the 4th quarter worth $38,000. Columbus Macro LLC purchased a new position in BlackRock TCP Capital during the fourth quarter valued at $4,177,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in BlackRock TCP Capital by 12.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 238,432 shares of the investment management company's stock valued at $2,077,000 after purchasing an additional 25,560 shares during the period. Finally, Entropy Technologies LP bought a new stake in BlackRock TCP Capital during the fourth quarter valued at about $115,000.

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.

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