Blackrock Tcp Capital (NASDAQ:TCPC) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $3.82 and traded as high as $4.15. Blackrock Tcp Capital shares last traded at $4.11, with a volume of 619,232 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and increased their target price for the company from $3.50 to $4.00 in a research note on Friday, August 7th. Wells Fargo & Company upgraded shares of Blackrock Tcp Capital from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $3.50 to $4.00 in a research report on Tuesday, September 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Friday, August 28th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $4.00.

Blackrock Tcp Capital Price Performance

The stock has a 50 day moving average of $4.05 and a two-hundred day moving average of $3.82. The stock has a market cap of $340.63 million, a PE ratio of -3.17 and a beta of 0.99. The company has a debt-to-equity ratio of 1.65, a quick ratio of 33.70 and a current ratio of 33.70.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Blackrock Tcp Capital had a negative net margin of 61.27% and a positive return on equity of 13.85%. The company had revenue of $40.02 million during the quarter, compared to analyst estimates of $38.36 million. Equities analysts anticipate that Blackrock Tcp Capital Corp. will post 0.68 EPS for the current year.

Blackrock Tcp Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a yield of 16.7%. Blackrock Tcp Capital’s dividend payout ratio (DPR) is currently -53.12%.

Hedge Funds Weigh In On Blackrock Tcp Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Next Capital Management LLC acquired a new position in Blackrock Tcp Capital during the second quarter valued at $10,518,000. Van ECK Associates Corp increased its position in Blackrock Tcp Capital by 26.8% in the 2nd quarter. Van ECK Associates Corp now owns 2,096,604 shares of the investment management company’s stock worth $7,045,000 after purchasing an additional 442,735 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Blackrock Tcp Capital during the 2nd quarter worth about $2,245,000. Barings LLC raised its stake in shares of Blackrock Tcp Capital by 4.5% during the 1st quarter. Barings LLC now owns 564,991 shares of the investment management company’s stock worth $2,040,000 after purchasing an additional 24,376 shares in the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Blackrock Tcp Capital during the 2nd quarter worth about $1,540,000.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a business development company that provides financing to established middle-market businesses. The company seeks to generate income and long-term capital appreciation by investing primarily in privately originated loans and other debt investments, with a focus on companies that may have limited access to traditional financing sources.

Its investment portfolio may include senior secured, first-lien and second-lien loans, subordinated debt, mezzanine investments and equity interests.