Zacks Investment Research upgraded shares of BlackRock Capital Investment Corporation (NASDAQ:BKCC) from a sell rating to a hold rating in a research note released on Monday morning.

According to Zacks, “BlackRock Kelso Capital Corporation provides responsive, creative and flexible capital solutions to middle-market companies. BlackRock Kelso Capital provides middle-market companies with flexible financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities. The Companies strategy is to provide capital to meet our clients’ current and future needs across this spectrum, creating long-term partnerships with growing middle-market companies. “

BlackRock Capital Investment Corporation (NASDAQ:BKCC) opened at 7.38 on Monday. The stock has a 50 day moving average of $7.38 and a 200-day moving average of $7.92. BlackRock Capital Investment Corporation has a 52-week low of $6.75 and a 52-week high of $9.92.

BlackRock Capital Investment Corporation (NASDAQ:BKCC) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.28. BlackRock Capital Investment Corporation had a negative net margin of 88.53% and a positive return on equity of 8.18%. The firm earned $26.15 million during the quarter, compared to the consensus estimate of $29.16 million. During the same period in the prior year, the business earned $0.21 EPS. The company’s revenue for the quarter was down 23.0% compared to the same quarter last year. Analysts forecast that BlackRock Capital Investment Corporation will post $0.73 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Monday, January 2nd. Stockholders of record on Monday, December 19th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 11.38%. The ex-dividend date was Thursday, December 15th. BlackRock Capital Investment Corporation’s dividend payout ratio is -59.57%.

Several institutional investors have recently added to or reduced their stakes in the stock. Muzinich & Co. Inc. raised its position in shares of BlackRock Capital Investment Corporation by 11.7% in the third quarter. Muzinich & Co. Inc. now owns 1,089,033 shares of the company’s stock worth $9,017,000 after buying an additional 114,375 shares during the period. Confluence Investment Management LLC raised its position in shares of BlackRock Capital Investment Corporation by 1.1% in the second quarter. Confluence Investment Management LLC now owns 291,248 shares of the company’s stock worth $2,266,000 after buying an additional 3,272 shares during the period. Bank of Montreal Can bought a new position in shares of BlackRock Capital Investment Corporation during the second quarter worth about $4,178,000. ING Groep NV raised its position in shares of BlackRock Capital Investment Corporation by 0.4% in the second quarter. ING Groep NV now owns 899,334 shares of the company’s stock worth $6,997,000 after buying an additional 3,804 shares during the period. Finally, Nomura Holdings Inc. raised its position in shares of BlackRock Capital Investment Corporation by 18.0% in the second quarter. Nomura Holdings Inc. now owns 95,389 shares of the company’s stock worth $741,000 after buying an additional 14,585 shares during the period. 24.02% of the stock is currently owned by institutional investors.

About BlackRock Capital Investment Corporation

BlackRock Capital Investment Corporation, formerly BlackRock Kelso Capital Corporation, is an externally-managed, non-diversified, closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation through its debt and equity investments.

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