Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.85 and traded as high as $4.09. Blackrock Tcp Capital shares last traded at $4.08, with a volume of 518,729 shares traded.
Wall Street Analysts Forecast Growth
TCPC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upgraded shares of Blackrock Tcp Capital from an "underperform" rating to a "market perform" rating and lifted their target price for the company from $3.50 to $4.00 in a research note on Friday, August 7th. Wall Street Zen raised Blackrock Tcp Capital from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Blackrock Tcp Capital in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Blackrock Tcp Capital currently has an average rating of "Reduce" and an average price target of $3.75.
Check Out Our Latest Analysis on Blackrock Tcp Capital
Blackrock Tcp Capital Trading Up 1.2%
The company has a debt-to-equity ratio of 1.65, a quick ratio of 33.70 and a current ratio of 33.70. The company's 50 day moving average is $3.48 and its 200 day moving average is $3.85. The stock has a market capitalization of $342.32 million, a price-to-earnings ratio of -3.19 and a beta of 0.94.
Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last released its earnings results on Thursday, August 6th. The investment management company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. Blackrock Tcp Capital had a positive return on equity of 13.85% and a negative net margin of 61.27%.The business had revenue of $40.02 million for the quarter, compared to the consensus estimate of $38.36 million. On average, research analysts forecast that Blackrock Tcp Capital Corp. will post 0.68 EPS for the current fiscal year.
Blackrock Tcp Capital Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 16.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Blackrock Tcp Capital's payout ratio is -53.13%.
Hedge Funds Weigh In On Blackrock Tcp Capital
A number of hedge funds and other institutional investors have recently made changes to their positions in TCPC. IMC Chicago LLC increased its stake in Blackrock Tcp Capital by 203.7% in the second quarter. IMC Chicago LLC now owns 13,301 shares of the investment management company's stock valued at $45,000 after acquiring an additional 26,122 shares during the period. Van ECK Associates Corp lifted its stake in Blackrock Tcp Capital by 26.8% during the second quarter. Van ECK Associates Corp now owns 2,096,604 shares of the investment management company's stock worth $7,045,000 after purchasing an additional 442,735 shares during the period. Bank of America Corp DE lifted its stake in Blackrock Tcp Capital by 230.1% during the second quarter. Bank of America Corp DE now owns 398,785 shares of the investment management company's stock worth $1,340,000 after purchasing an additional 277,993 shares during the period. Legal & General Group Plc acquired a new stake in Blackrock Tcp Capital during the second quarter valued at approximately $2,245,000. Finally, Van Hulzen Asset Management LLC acquired a new stake in Blackrock Tcp Capital during the second quarter valued at approximately $160,000.
About Blackrock Tcp Capital
(
Get Free Report)
BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.
Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.
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