Blackrock Tcp Capital (NASDAQ:TCPC) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Blackrock Tcp Capital (NASDAQ:TCPC) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on TCPC. Wall Street Zen upgraded Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research note on Monday, December 29th. Finally, Wells Fargo & Company dropped their price target on Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating for the company in a research report on Monday, November 10th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Blackrock Tcp Capital has an average rating of “Reduce” and an average target price of $6.50.

Blackrock Tcp Capital Price Performance

Shares of NASDAQ:TCPC opened at $4.94 on Wednesday. The company has a 50 day moving average of $5.62 and a 200 day moving average of $6.16. The company has a current ratio of 14.55, a quick ratio of 14.55 and a debt-to-equity ratio of 1.42. The stock has a market cap of $419.11 million, a P/E ratio of -38.00 and a beta of 0.89. Blackrock Tcp Capital has a 12 month low of $4.88 and a 12 month high of $9.48.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its earnings results on Thursday, November 6th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $50.52 million during the quarter, compared to analysts’ expectations of $51.01 million. Blackrock Tcp Capital had a positive return on equity of 15.27% and a negative net margin of 4.20%. As a group, sell-side analysts forecast that Blackrock Tcp Capital will post 1.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Blackrock Tcp Capital

Several institutional investors have recently modified their holdings of TCPC. Equitable Trust Co. bought a new stake in Blackrock Tcp Capital in the 4th quarter worth approximately $75,000. UBS Group AG grew its position in Blackrock Tcp Capital by 8.9% during 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 last quarter. Sound Income Strategies LLC raised its stake in shares of Blackrock Tcp Capital by 188.7% during the fourth quarter. Sound Income Strategies LLC now owns 5,072 shares of the investment management company’s stock worth $29,000 after acquiring an additional 3,315 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Blackrock Tcp Capital in the 4th quarter worth approximately $105,000. Finally, Blue Trust Inc. bought a new stake in shares of Blackrock Tcp Capital in the 4th quarter worth approximately $59,000.

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.