Blackrock Capital Investment (BKCC) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Blackrock Capital Investment (NASDAQ:BKCC) from a sell rating to a hold rating in a research note released on Wednesday.
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. “
A number of other equities analysts have also recently weighed in on BKCC. ValuEngine raised Blackrock Capital Investment from a hold rating to a buy rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods set a $8.00 price target on Blackrock Capital Investment and gave the stock a hold rating in a research note on Thursday, October 5th. JPMorgan Chase & Co. dropped their price target on Blackrock Capital Investment from $8.00 to $7.50 and set a neutral rating on the stock in a research note on Wednesday, November 1st. Finally, BidaskClub raised Blackrock Capital Investment from a strong sell rating to a sell rating in a research note on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $7.42.
Shares of Blackrock Capital Investment (BKCC) traded up $0.08 during trading on Wednesday, reaching $6.22. 448,094 shares of the company’s stock traded hands, compared to its average volume of 646,872. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.42. Blackrock Capital Investment has a 12-month low of $6.05 and a 12-month high of $7.89. The company has a market capitalization of $455.13, a PE ratio of 25.92, a PEG ratio of 8.35 and a beta of 0.84.
Blackrock Capital Investment (NASDAQ:BKCC) last issued its quarterly earnings results on Wednesday, November 8th. The asset manager reported $0.16 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.04). Blackrock Capital Investment had a return on equity of 9.67% and a net margin of 19.87%. The business had revenue of $22.76 million during the quarter, compared to the consensus estimate of $24.75 million. During the same quarter last year, the firm posted $0.21 earnings per share. Blackrock Capital Investment’s revenue was down 12.9% compared to the same quarter last year. equities research analysts anticipate that Blackrock Capital Investment will post 0.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Tuesday, December 19th were paid a $0.18 dividend. The ex-dividend date was Monday, December 18th. This represents a $0.72 dividend on an annualized basis and a yield of 11.58%. Blackrock Capital Investment’s dividend payout ratio is currently 300.00%.
In related news, Director Mark S. Lies purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average price of $6.72 per share, with a total value of $336,000.00. Following the purchase, the director now owns 155,000 shares of the company’s stock, valued at approximately $1,041,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James Keenan purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was bought at an average cost of $6.54 per share, for a total transaction of $130,800.00. Following the purchase, the chairman now directly owns 35,182 shares in the company, valued at approximately $230,090.28. The disclosure for this purchase can be found here. Insiders purchased a total of 87,750 shares of company stock worth $584,553 in the last three months. 1.34% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. purchased a new position in Blackrock Capital Investment during the 3rd quarter valued at about $999,000. Citadel Advisors LLC purchased a new position in Blackrock Capital Investment during the 3rd quarter valued at about $269,000. Nomura Holdings Inc. grew its stake in Blackrock Capital Investment by 8.4% during the 2nd quarter. Nomura Holdings Inc. now owns 992,955 shares of the asset manager’s stock valued at $7,449,000 after acquiring an additional 76,925 shares in the last quarter. Telemus Capital LLC grew its stake in Blackrock Capital Investment by 4.8% during the 3rd quarter. Telemus Capital LLC now owns 777,406 shares of the asset manager’s stock valued at $5,831,000 after acquiring an additional 35,880 shares in the last quarter. Finally, LSV Asset Management grew its stake in Blackrock Capital Investment by 2.1% during the 2nd quarter. LSV Asset Management now owns 1,632,384 shares of the asset manager’s stock valued at $12,226,000 after acquiring an additional 33,724 shares in the last quarter. 31.05% of the stock is currently owned by hedge funds and other institutional investors.
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Blackrock Capital Investment Company Profile
BlackRock Capital Investment 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. The Company provides middle-market companies with a range of financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities.
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