Blackrock Tcp Capital (NASDAQ:TCPC) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.91 and traded as high as $4.21. Blackrock Tcp Capital shares last traded at $4.08, with a volume of 646,982 shares.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TCPC. Weiss Ratings restated a “sell (d)” rating on shares of Blackrock Tcp Capital in a research note on Tuesday, June 2nd. Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods upgraded Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $3.50 to $4.00 in a report on Friday, August 7th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $3.75.

Blackrock Tcp Capital Stock Performance

The firm has a fifty day simple moving average of $3.44 and a 200 day simple moving average of $3.91. The company has a current ratio of 33.70, a quick ratio of 21.44 and a debt-to-equity ratio of 1.65. The stock has a market cap of $342.32 million, a price-to-earnings ratio of -3.19 and a beta of 0.94.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $40.02 million for the quarter, compared to analyst estimates of $38.36 million. Blackrock Tcp Capital had a positive return on equity of 13.85% and a negative net margin of 61.27%. As a group, sell-side analysts expect that Blackrock Tcp Capital Corp. will post 0.68 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 16.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Blackrock Tcp Capital’s dividend payout ratio (DPR) is -53.13%.

Hedge Funds Weigh In On Blackrock Tcp Capital

A number of hedge funds have recently made changes to their positions in TCPC. Next Capital Management LLC bought a new position in shares of Blackrock Tcp Capital during the 2nd quarter worth about $10,518,000. Invesco Ltd. increased its stake in Blackrock Tcp Capital by 22.0% in the fourth quarter. Invesco Ltd. now owns 2,375,549 shares of the investment management company’s stock valued at $12,994,000 after acquiring an additional 428,201 shares during the period. UBS Group AG increased its stake in Blackrock Tcp Capital by 8.9% in the fourth quarter. UBS Group AG now owns 1,571,451 shares of the investment management company’s stock valued at $8,596,000 after acquiring an additional 128,687 shares during the period. Two Sigma Investments LP increased its stake in Blackrock Tcp Capital by 22.8% in the third quarter. Two Sigma Investments LP now owns 874,972 shares of the investment management company’s stock valued at $5,425,000 after acquiring an additional 162,651 shares during the period. Finally, North Ground Capital raised its position in Blackrock Tcp Capital by 57.6% in the fourth quarter. North Ground Capital now owns 787,946 shares of the investment management company’s stock worth $4,310,000 after purchasing an additional 287,946 shares in the last quarter.

Blackrock Tcp Capital Company Profile

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.