BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have been assigned an average rating of “Reduce” from the six research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $9.00.

A number of research analysts have weighed in on TCPC shares. Wells Fargo & Company raised their target price on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods cut their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday.

Institutional Investors Weigh In On BlackRock TCP Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CF Capital LLC acquired a new position in shares of BlackRock TCP Capital in the 4th quarter valued at $243,000. Balyasny Asset Management L.P. acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter worth about $177,000. Jane Street Group LLC raised its holdings in BlackRock TCP Capital by 291.5% in the 4th quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company’s stock valued at $1,243,000 after buying an additional 106,257 shares during the period. Talon Private Wealth LLC acquired a new position in BlackRock TCP Capital in the fourth quarter valued at about $276,000. Finally, Aquatic Capital Management LLC boosted its stake in BlackRock TCP Capital by 146.4% during the fourth quarter. Aquatic Capital Management LLC now owns 34,000 shares of the investment management company’s stock worth $296,000 after buying an additional 20,200 shares during the period.

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC traded down $0.03 during midday trading on Friday, hitting $8.42. The company’s stock had a trading volume of 743,212 shares, compared to its average volume of 533,335. The company has a market cap of $720.25 million, a P/E ratio of -16.85 and a beta of 1.50. BlackRock TCP Capital has a 12-month low of $7.71 and a 12-month high of $11.52. The business’s 50 day simple moving average is $8.97 and its 200 day simple moving average is $8.81. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37.

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.