Wells Fargo & Company Issues Pessimistic Forecast for Blackrock Tcp Capital (NASDAQ:TCPC) Stock Price

Blackrock Tcp Capital (NASDAQ:TCPC) had its price target lowered by equities researchers at Wells Fargo & Company from $5.50 to $3.50 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 14.53% from the stock’s current price.

TCPC has been the subject of a number of other research reports. Zacks Research cut shares of Blackrock Tcp Capital from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Wall Street Zen upgraded Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $5.50.

Blackrock Tcp Capital Stock Up 0.1%

Shares of NASDAQ TCPC traded up $0.01 during trading hours on Monday, hitting $4.10. 664,783 shares of the stock were exchanged, compared to its average volume of 1,072,922. Blackrock Tcp Capital has a 12 month low of $4.05 and a 12 month high of $8.59. The firm has a fifty day moving average price of $5.21 and a 200-day moving average price of $5.86. The company has a quick ratio of 14.55, a current ratio of 14.55 and a debt-to-equity ratio of 1.42. The company has a market cap of $347.42 million, a PE ratio of -3.90 and a beta of 0.91.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its quarterly earnings results on Friday, February 27th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $27.13 million during the quarter, compared to analysts’ expectations of $46.99 million. Blackrock Tcp Capital had a positive return on equity of 14.28% and a negative net margin of 44.07%. On average, sell-side analysts expect that Blackrock Tcp Capital will post 1.65 EPS for the current year.

Hedge Funds Weigh In On Blackrock Tcp Capital

Several large investors have recently made changes to their positions in the company. Alpine Global Management LLC grew its position in Blackrock Tcp Capital by 42.2% during the fourth quarter. Alpine Global Management LLC now owns 376,816 shares of the investment management company’s stock valued at $2,061,000 after buying an additional 111,786 shares during the period. Virtu Financial LLC grew its position in shares of Blackrock Tcp Capital by 49.9% during the 4th quarter. Virtu Financial LLC now owns 46,229 shares of the investment management company’s stock valued at $253,000 after acquiring an additional 15,398 shares during the period. Compound Planning Inc. grew its position in shares of Blackrock Tcp Capital by 112.9% during the 4th quarter. Compound Planning Inc. now owns 27,992 shares of the investment management company’s stock valued at $153,000 after acquiring an additional 14,841 shares during the period. Invesco Ltd. increased its stake in shares of Blackrock Tcp Capital by 22.0% in the 4th quarter. Invesco Ltd. now owns 2,375,549 shares of the investment management company’s stock valued at $12,994,000 after purchasing an additional 428,201 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Blackrock Tcp Capital in the 4th quarter worth about $425,000.

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.