Keefe, Bruyette & Woods Cuts BlackRock TCP Capital (NASDAQ:TCPC) Price Target to $8.50

BlackRock TCP Capital (NASDAQ:TCPC) had its target price trimmed by Keefe, Bruyette & Woods from $9.00 to $8.50 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a market perform rating on the investment management company’s stock.

A number of other equities research analysts also recently weighed in on TCPC. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company increased their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.67.

BlackRock TCP Capital Stock Performance

TCPC opened at $8.44 on Friday. The company has a market capitalization of $722.39 million, a price-to-earnings ratio of -16.88 and a beta of 1.50. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. BlackRock TCP Capital has a 1-year low of $7.71 and a 1-year high of $11.52. The business has a 50 day moving average price of $8.97 and a two-hundred day moving average price of $8.81.

BlackRock TCP Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.85%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -272.00%.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently modified their holdings of TCPC. CF Capital LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $243,000. Balyasny Asset Management L.P. purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $177,000. Jane Street Group LLC lifted its holdings in shares of BlackRock TCP Capital by 291.5% in the fourth quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company’s stock valued at $1,243,000 after purchasing an additional 106,257 shares in the last quarter. Talon Private Wealth LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $276,000. Finally, Aquatic Capital Management LLC lifted its holdings in shares of BlackRock TCP Capital by 146.4% in the fourth quarter. Aquatic Capital Management LLC now owns 34,000 shares of the investment management company’s stock valued at $296,000 after purchasing an additional 20,200 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.