Blackrock Tcp Capital (NASDAQ:TCPC) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• TCPC shares rose above their 200-day moving average, reaching $4.04 before closing around $4.01, compared with the 200-day average of $3.80.
• Analyst sentiment remains cautious: three analysts rate the stock Hold and one rates it Sell, producing an average “Reduce” rating and a $4.00 price target.
• The company reported quarterly EPS of $0.22, beating estimates, and maintains a $0.17 quarterly dividend, equivalent to a high 17% annualized yield; however, its negative net margin and payout ratio underscore financial risks.

Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $3.80 and traded as high as $4.04. Blackrock Tcp Capital shares last traded at $4.01, with a volume of 472,361 shares changing hands.

Analysts Set New Price Targets

TCPC has been the subject of a number of recent analyst reports. Weiss Ratings restated a "sell (d)" rating on shares of Blackrock Tcp Capital in a report on Friday, August 28th. Keefe, Bruyette & Woods upgraded Blackrock Tcp Capital from an "underperform" rating to a "market perform" rating and increased their target price for the company from $3.50 to $4.00 in a research note on Friday, August 7th. Finally, Wells Fargo & Company raised Blackrock Tcp Capital from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $3.50 to $4.00 in a report on Tuesday, September 29th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Blackrock Tcp Capital has an average rating of "Reduce" and an average target price of $4.00.

Blackrock Tcp Capital Stock Down 0.5%

The company's 50 day simple moving average is $4.01 and its 200-day simple moving average is $3.80. The company has a current ratio of 33.70, a quick ratio of 33.70 and a debt-to-equity ratio of 1.65. The firm has a market cap of $336.45 million, a P/E ratio of -3.13 and a beta of 0.99.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $40.02 million during the quarter, compared to analyst estimates of $38.36 million. Blackrock Tcp Capital had a negative net margin of 61.27% and a positive return on equity of 13.85%. Research analysts forecast that Blackrock Tcp Capital Corp. will post 0.68 earnings per share for the current fiscal year.

Blackrock Tcp Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 17.0%. The ex-dividend date of this dividend was Wednesday, September 16th. Blackrock Tcp Capital's payout ratio is -53.13%.

Hedge Funds Weigh In On Blackrock Tcp Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC lifted its holdings in 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 valued at $47,000 after acquiring an additional 2,468 shares during the period. Sunbelt Securities Inc. boosted its position in Blackrock Tcp Capital by 10.1% in the first quarter. Sunbelt Securities Inc. now owns 101,969 shares of the investment management company's stock worth $368,000 after purchasing an additional 9,364 shares during the last quarter. IMC Chicago LLC bought a new stake in shares of Blackrock Tcp Capital during the 2nd quarter valued at about $45,000. Janney Montgomery Scott LLC grew its stake in shares of Blackrock Tcp Capital by 26.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 76,429 shares of the investment management company's stock valued at $276,000 after purchasing an additional 15,993 shares during the period. Finally, Barings LLC increased its position in shares of Blackrock Tcp Capital by 4.5% during the 1st quarter. Barings LLC now owns 564,991 shares of the investment management company's stock valued at $2,040,000 after purchasing an additional 24,376 shares during the last quarter.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp. NASDAQ: TCPC is a business development company that provides financing to established middle-market businesses. The company seeks to generate income and long-term capital appreciation by investing primarily in privately originated loans and other debt investments, with a focus on companies that may have limited access to traditional financing sources.

Its investment portfolio may include senior secured, first-lien and second-lien loans, subordinated debt, mezzanine investments and equity interests.

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