BlackRock TCP Capital (NASDAQ:TCPC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) in a report released on Thursday. The firm issued a hold rating on the investment management company’s stock.

TCPC has been the subject of a number of other research reports. Oppenheimer lowered their price objective on shares of BlackRock TCP Capital from $14.00 to $13.00 and set an outperform rating for the company in a research report on Wednesday, March 1st. JMP Securities reduced their target price on shares of BlackRock TCP Capital from $14.50 to $13.00 and set a market outperform rating for the company in a research note on Thursday, March 2nd. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock TCP Capital from $13.50 to $12.00 and set a market perform rating for the company in a research note on Wednesday, March 1st. Wells Fargo & Company reduced their target price on shares of BlackRock TCP Capital from $12.50 to $11.00 and set an equal weight rating for the company in a research note on Wednesday, March 1st. Finally, Raymond James reduced their target price on shares of BlackRock TCP Capital from $14.00 to $13.00 and set an outperform rating for the company in a research note on Wednesday, March 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $12.40.

BlackRock TCP Capital Trading Down 2.2 %

TCPC opened at $9.87 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 18.88 and a current ratio of 18.88. BlackRock TCP Capital has a 12 month low of $9.69 and a 12 month high of $14.52. The company has a fifty day simple moving average of $12.49 and a 200 day simple moving average of $12.52.

BlackRock TCP Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 12.97%. BlackRock TCP Capital’s dividend payout ratio is -800.00%.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of large investors have recently modified their holdings of the business. Cliffwater LLC boosted its stake in shares of BlackRock TCP Capital by 6.1% during the 3rd quarter. Cliffwater LLC now owns 1,279,269 shares of the investment management company’s stock worth $13,982,000 after buying an additional 74,083 shares during the last quarter. Millennium Management LLC lifted its stake in BlackRock TCP Capital by 45.8% in the 4th quarter. Millennium Management LLC now owns 1,076,928 shares of the investment management company’s stock valued at $13,935,000 after purchasing an additional 338,456 shares during the last quarter. Van ECK Associates Corp lifted its stake in BlackRock TCP Capital by 2.9% in the 4th quarter. Van ECK Associates Corp now owns 785,412 shares of the investment management company’s stock valued at $10,164,000 after purchasing an additional 21,779 shares during the last quarter. Bank of America Corp DE lifted its stake in BlackRock TCP Capital by 6.6% in the 1st quarter. Bank of America Corp DE now owns 617,246 shares of the investment management company’s stock valued at $8,827,000 after purchasing an additional 38,268 shares during the last quarter. Finally, Ares Management LLC lifted its stake in BlackRock TCP Capital by 5.2% in the 1st quarter. Ares Management LLC now owns 386,727 shares of the investment management company’s stock valued at $5,530,000 after purchasing an additional 19,038 shares during the last quarter.

BlackRock TCP Capital Company Profile

(Get Rating)

TCP Capital Corp. is an externally-managed specialty finance company focused on middle-market lending. We have elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. Our stock is traded on NASDAQ under the ticker symbol ”TCPC”. TCP Capital’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection.