Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.77 and traded as high as $4.14. Blackrock Tcp Capital shares last traded at $4.08, with a volume of 571,701 shares.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on TCPC. Keefe, Bruyette & Woods raised shares of Blackrock Tcp Capital from an "underperform" rating to a "market perform" rating and raised their target price for the company from $3.50 to $4.00 in a research note on Friday, August 7th. Weiss Ratings reissued a "sell (d)" rating on shares of Blackrock Tcp Capital in a research note on Friday, August 28th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $3.75.
Check Out Our Latest Research Report on TCPC
Blackrock Tcp Capital Price Performance
The company has a market cap of $342.31 million, a PE ratio of -3.19 and a beta of 0.98. The firm's 50-day moving average is $3.81 and its 200-day moving average is $3.77. The company has a quick ratio of 33.70, a current ratio of 33.70 and a debt-to-equity ratio of 1.65.
Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last released its earnings results on Thursday, August 6th. The investment management company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. The company had revenue of $40.02 million during the quarter, compared to analysts' expectations of $38.36 million. Blackrock Tcp Capital had a positive return on equity of 13.85% and a negative net margin of 61.27%. On average, equities analysts anticipate that Blackrock Tcp Capital Corp. will post 0.68 EPS for the current year.
Blackrock Tcp Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 16.7%. The ex-dividend date is Wednesday, September 16th. Blackrock Tcp Capital's dividend payout ratio (DPR) is presently -53.12%.
Hedge Funds Weigh In On Blackrock Tcp Capital
Several large investors have recently modified their holdings of TCPC. IMC Chicago LLC bought a new position in shares of Blackrock Tcp Capital in the second quarter worth approximately $45,000. HighTower Advisors LLC grew its holdings in shares of Blackrock Tcp Capital by 21.2% in the second quarter. HighTower Advisors LLC now owns 14,114 shares of the investment management company's stock worth $47,000 after acquiring an additional 2,468 shares during the period. Van Hulzen Asset Management LLC purchased a new stake in shares of Blackrock Tcp Capital during the 2nd quarter valued at about $160,000. Independent Financial Group LLC purchased a new stake in Blackrock Tcp Capital during the first quarter valued at approximately $172,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Blackrock Tcp Capital by 26.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 76,429 shares of the investment management company's stock worth $276,000 after purchasing an additional 15,993 shares in the last quarter.
About Blackrock Tcp Capital
(
Get Free Report)
BlackRock TCP Capital Corp. NASDAQ: TCPC is a business development company that provides financing to middle-market companies, primarily in the United States. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.
Its investment portfolio is focused largely on senior secured loans and other forms of secured and unsecured debt, along with select equity investments. BlackRock TCP Capital works with companies across a range of industries and typically supports businesses that may require financing for acquisitions, recapitalizations, growth initiatives, refinancings, or other corporate purposes.
The company was established as TCP Capital Corp.
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