Blackrock Tcp Capital (NASDAQ:TCPC) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Blackrock Tcp Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a research note published on Saturday morning.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Blackrock Tcp Capital from $5.50 to $3.50 and set an “underweight” rating for the company in a research note on Monday, March 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research note on Monday, December 29th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $3.50 price objective (down from $7.00) on shares of Blackrock Tcp Capital in a research report on Tuesday, March 3rd. Finally, Zacks Research cut Blackrock Tcp Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Blackrock Tcp Capital presently has an average rating of “Strong Sell” and an average price target of $3.50.

Blackrock Tcp Capital Price Performance

Shares of TCPC stock opened at $3.80 on Friday. Blackrock Tcp Capital has a 52 week low of $3.66 and a 52 week high of $8.36. The stock has a market capitalization of $320.45 million, a PE ratio of -3.62 and a beta of 0.91. The company has a debt-to-equity ratio of 1.73, a quick ratio of 17.66 and a current ratio of 17.66. The stock’s fifty day moving average is $5.04 and its 200-day moving average is $5.72.

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 analysts’ consensus estimates of $0.29 by ($0.03). The business had revenue of $27.13 million during the quarter, compared to the consensus estimate of $46.99 million. Blackrock Tcp Capital had a negative net margin of 44.07% and a positive return on equity of 15.06%. Equities research analysts expect that Blackrock Tcp Capital will post 1.65 EPS for the current fiscal year.

Blackrock Tcp Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 17.9%. The ex-dividend date is Tuesday, March 17th. Blackrock Tcp Capital’s dividend payout ratio is currently -95.24%.

Hedge Funds Weigh In On Blackrock Tcp Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. North Ground Capital acquired a new position in shares of Blackrock Tcp Capital during the 3rd quarter worth about $3,100,000. Next Capital Management LLC raised its position in shares of Blackrock Tcp Capital by 111.6% in the 3rd quarter. Next Capital Management LLC now owns 2,401,416 shares of the investment management company’s stock valued at $14,889,000 after acquiring an additional 1,266,590 shares during the period. Ethos Financial Group LLC acquired a new stake in shares of Blackrock Tcp Capital in the 3rd quarter valued at approximately $589,000. Virtus Investment Advisers LLC boosted its stake in Blackrock Tcp Capital by 6.4% during the 2nd quarter. Virtus Investment Advisers LLC now owns 165,000 shares of the investment management company’s stock worth $1,270,000 after acquiring an additional 9,852 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in Blackrock Tcp Capital by 24.9% during the second quarter. J.W. Cole Advisors Inc. now owns 142,047 shares of the investment management company’s stock valued at $1,094,000 after purchasing an additional 28,359 shares during the period.

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.