Blackrock Tcp Capital (NASDAQ:TCPC) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• TCPC shares rose above their 200-day moving average, reaching $4.14 before closing at $4.08, compared with the 200-day average of $3.82.
• Analyst sentiment remains cautious: the stock carries an average rating of “Reduce” and a consensus price target of $3.75, despite recent upgrades from some analysts.
• BlackRock TCP Capital reported quarterly EPS of $0.22, beating estimates by $0.02, and announced a quarterly dividend of $0.17, equivalent to an annualized yield of approximately 16.7%.

Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.82 and traded as high as $4.14. Blackrock Tcp Capital shares last traded at $4.08, with a volume of 478,284 shares.

Analyst Ratings Changes

TCPC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "sell (d)" rating on shares of Blackrock Tcp Capital in a research note on Friday. Wall Street Zen raised Blackrock Tcp Capital from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods upgraded Blackrock Tcp Capital from an "underperform" rating to a "market perform" rating and increased their price target for the company from $3.50 to $4.00 in a report on Friday, August 7th. Two research 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 presently has an average rating of "Reduce" and a consensus target price of $3.75.

Blackrock Tcp Capital Stock Performance

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 stock's 50-day simple moving average is $3.57 and its two-hundred day simple moving average is $3.82. The stock has a market cap of $342.31 million, a price-to-earnings ratio of -3.19 and a beta of 0.98.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $40.02 million for the quarter, compared to the consensus estimate of $38.36 million. Blackrock Tcp Capital had a positive return on equity of 13.85% and a negative net margin of 61.27%. Analysts forecast that Blackrock Tcp Capital Corp. will post 0.68 earnings per share 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. Shareholders of record on Wednesday, September 16th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a yield of 16.7%. Blackrock Tcp Capital's dividend payout ratio (DPR) is -53.12%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Next Capital Management LLC bought a new stake in shares of Blackrock Tcp Capital in the second quarter valued at approximately $10,518,000. Invesco Ltd. grew its stake in shares of Blackrock Tcp Capital by 22.0% in the fourth quarter. Invesco Ltd. now owns 2,375,549 shares of the investment management company's stock worth $12,994,000 after acquiring an additional 428,201 shares during the last quarter. Van ECK Associates Corp increased its position 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 acquiring an additional 442,735 shares during the period. UBS Group AG increased its position in Blackrock Tcp Capital by 8.9% during the fourth quarter. UBS Group AG now owns 1,571,451 shares of the investment management company's stock worth $8,596,000 after acquiring an additional 128,687 shares during the period. Finally, Two Sigma Investments LP raised its stake in Blackrock Tcp Capital by 22.8% during the 3rd quarter. Two Sigma Investments LP now owns 874,972 shares of the investment management company's stock valued at $5,425,000 after purchasing an additional 162,651 shares during the last quarter.

About Blackrock Tcp Capital

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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