Oppenheimer Lowers BlackRock TCP Capital (NASDAQ:TCPC) Price Target to $10.00

BlackRock TCP Capital (NASDAQ:TCPC) had its price target reduced by equities researchers at Oppenheimer from $11.00 to $10.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the investment management company’s stock. Oppenheimer’s target price suggests a potential downside of 4.03% from the stock’s previous close.

TCPC has been the topic of several other reports. Wells Fargo & Company lifted their price objective on BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Keefe, Bruyette & Woods lowered their target price on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a report on Friday, March 22nd. JMP Securities restated a “market perform” rating on shares of BlackRock TCP Capital in a report on Friday, March 1st. Finally, Raymond James cut BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a report on Friday, March 1st. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.00.

BlackRock TCP Capital Stock Performance

Shares of TCPC stock opened at $10.42 on Thursday. The firm has a market capitalization of $601.96 million, a price-to-earnings ratio of 15.79 and a beta of 1.42. The company has a debt-to-equity ratio of 1.43, a current ratio of 30.47 and a quick ratio of 30.47. The business has a fifty day moving average of $10.35 and a 200 day moving average of $11.06. BlackRock TCP Capital has a 1 year low of $9.61 and a 1 year high of $13.00.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Thursday, February 29th. The investment management company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The company had revenue of $50.85 million for the quarter, compared to analysts’ expectations of $53.36 million. BlackRock TCP Capital had a net margin of 18.38% and a return on equity of 14.59%. As a group, research analysts expect that BlackRock TCP Capital will post 1.73 earnings per share for the current year.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently modified their holdings of TCPC. Melia Wealth LLC acquired a new position in shares of BlackRock TCP Capital during the fourth quarter worth $12,577,000. Van ECK Associates Corp grew its stake in shares of BlackRock TCP Capital by 58.5% during the first quarter. Van ECK Associates Corp now owns 1,678,661 shares of the investment management company’s stock worth $17,508,000 after purchasing an additional 619,519 shares in the last quarter. Confluence Investment Management LLC acquired a new position in shares of BlackRock TCP Capital during the first quarter worth $4,172,000. International Assets Investment Management LLC boosted its stake in BlackRock TCP Capital by 1,054.0% in the fourth quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock valued at $4,754,000 after acquiring an additional 376,278 shares in the last quarter. Finally, Privium Fund Management UK Ltd acquired a new position in BlackRock TCP Capital in the first quarter valued at $1,022,000.

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.