BlackRock TCP Capital (TCPC) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “BlackRock TCP Capital Corp. is an externally-managed non-diversified closed-end management investment company. It focused on middle-market lending. BlackRock TCP Capital Corp., formerly known as TCP Capital Corp., is headquartered in Santa Monica, CA. “

TCPC has been the topic of several other research reports. TheStreet cut BlackRock TCP Capital from a b- rating to a c+ rating in a research report on Friday, April 5th. BidaskClub cut BlackRock TCP Capital from a hold rating to a sell rating in a research report on Tuesday, March 5th. Finally, National Securities dropped their target price on BlackRock TCP Capital from $19.00 to $18.00 and set a buy rating on the stock in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $16.50.

NASDAQ TCPC opened at $14.44 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 12.33 and a current ratio of 3.75. BlackRock TCP Capital has a 12-month low of $12.52 and a 12-month high of $14.98. The company has a market cap of $847.40 million, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.80.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Thursday, February 28th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. BlackRock TCP Capital had a return on equity of 11.27% and a net margin of 21.88%. The company had revenue of $48.38 million for the quarter, compared to analysts’ expectations of $49.43 million. As a group, equities research analysts forecast that BlackRock TCP Capital will post 1.61 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 9.97%. The ex-dividend date is Thursday, June 13th. BlackRock TCP Capital’s payout ratio is 90.57%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its holdings in shares of BlackRock TCP Capital by 82.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,412,570 shares of the investment management company’s stock worth $20,030,000 after acquiring an additional 639,240 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of BlackRock TCP Capital by 3.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,056,953 shares of the investment management company’s stock worth $14,988,000 after acquiring an additional 36,175 shares during the period. Confluence Investment Management LLC grew its holdings in shares of BlackRock TCP Capital by 4.8% in the 1st quarter. Confluence Investment Management LLC now owns 855,825 shares of the investment management company’s stock worth $12,135,000 after acquiring an additional 39,556 shares during the period. Cliffwater LLC grew its holdings in shares of BlackRock TCP Capital by 50.1% in the 4th quarter. Cliffwater LLC now owns 757,585 shares of the investment management company’s stock worth $9,879,000 after acquiring an additional 252,934 shares during the period. Finally, LSV Asset Management acquired a new stake in shares of BlackRock TCP Capital in the 1st quarter worth approximately $8,053,000. Institutional investors own 46.04% of the company’s stock.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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