Weiss Ratings Reaffirms "Sell (D)" Rating for Blackrock Tcp Capital (NASDAQ:TCPC)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D)" rating for Blackrock Tcp Capital (NASDAQ:TCPC), indicating ongoing concerns about the company's stock performance.
• The stock was recently trading at $5.67, with a consensus target price of $6.75 and indications from analysts that suggest a predominantly negative outlook.
• Blackrock Tcp Capital reported quarterly earnings of $0.32 EPS, missing analyst estimates, and experienced a negative net margin of 4.98%.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report)'s stock had its "sell (d)" rating reissued by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

TCPC has been the subject of a number of other reports. Wells Fargo & Company reaffirmed an "underweight" rating and set a $6.00 price target (down from $6.50) on shares of Blackrock Tcp Capital in a report on Tuesday, August 12th. Wall Street Zen downgraded Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Sell" and an average target price of $6.75.

Blackrock Tcp Capital Price Performance

Shares of NASDAQ TCPC traded down $0.17 during midday trading on Wednesday, hitting $5.67. The stock had a trading volume of 1,046,148 shares, compared to its average volume of 604,381. The company has a market capitalization of $482.18 million, a PE ratio of -33.35 and a beta of 1.04. The stock has a 50 day simple moving average of $6.85 and a 200-day simple moving average of $7.24. Blackrock Tcp Capital has a 1 year low of $5.67 and a 1 year high of $9.72. The company has a quick ratio of 14.07, a current ratio of 14.06 and a debt-to-equity ratio of 1.59.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. The company had revenue of $51.47 million during the quarter, compared to analyst estimates of $56.16 million. On average, sell-side analysts expect that Blackrock Tcp Capital will post 1.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackrock Tcp Capital

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Blackrock Tcp Capital by 13.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,656 shares of the investment management company's stock valued at $91,000 after buying an additional 1,352 shares in the last quarter. VSM Wealth Advisory LLC lifted its stake in Blackrock Tcp Capital by 15.9% in the 1st quarter. VSM Wealth Advisory LLC now owns 11,230 shares of the investment management company's stock valued at $90,000 after buying an additional 1,537 shares in the last quarter. Mallini Complete Financial Planning LLC lifted its stake in Blackrock Tcp Capital by 9.6% in the 1st quarter. Mallini Complete Financial Planning LLC now owns 22,505 shares of the investment management company's stock valued at $180,000 after buying an additional 1,971 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Blackrock Tcp Capital by 27.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company's stock valued at $82,000 after buying an additional 2,200 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in Blackrock Tcp Capital by 2.9% in the 1st quarter. Arkadios Wealth Advisors now owns 96,516 shares of the investment management company's stock valued at $773,000 after buying an additional 2,687 shares in the last quarter.

About Blackrock Tcp Capital

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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