BlackRock TCP Capital (NASDAQ:TCPC) Price Target Cut to $8.50 by Analysts at Keefe, Bruyette & Woods

BlackRock TCP Capital (NASDAQ:TCPC) had its price objective reduced by Keefe, Bruyette & Woods from $9.00 to $8.50 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a market perform rating on the investment management company’s stock.

TCPC has been the topic of a number of other reports. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company lifted their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus target price of $8.67.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC opened at $8.44 on Friday. BlackRock TCP Capital has a 1 year low of $7.71 and a 1 year high of $11.52. The firm has a market cap 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 quick ratio of 39.37 and a current ratio of 39.37. The stock’s 50-day simple moving average is $8.97 and its 200-day simple moving average is $8.81.

BlackRock TCP Capital Cuts Dividend

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

Hedge Funds Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCPC. Avior Wealth Management LLC bought a new position in BlackRock TCP Capital in the 4th quarter worth approximately $38,000. McIlrath & Eck LLC bought a new position in BlackRock TCP Capital in the 3rd quarter worth approximately $46,000. Tower Research Capital LLC TRC grew its holdings in BlackRock TCP Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after buying an additional 3,508 shares in the last quarter. Transce3nd LLC bought a new position in BlackRock TCP Capital in the 4th quarter worth approximately $70,000. Finally, Quantbot Technologies LP bought a new position in BlackRock TCP Capital in the 3rd quarter worth approximately $79,000.

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.