Blackrock Tcp Capital (NASDAQ:TCPC) Stock Breaks Above Two Hundred Day Moving Average – What’s Next?

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $4.05 and traded as high as $4.15. Blackrock Tcp Capital shares last traded at $4.13, with a volume of 1,044,502 shares.

Wall Street Analysts Forecast Growth

TCPC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised shares of Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $3.50 to $4.00 in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of Blackrock Tcp Capital in a research report on Friday, August 28th. Finally, Wells Fargo & Company raised shares of Blackrock Tcp Capital from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $3.50 to $4.00 in a research note on Tuesday, September 29th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Blackrock Tcp Capital has an average rating of “Reduce” and an average price target of $4.00.

Blackrock Tcp Capital Stock Up 1.7%

The company has a quick ratio of 33.70, a current ratio of 33.70 and a debt-to-equity ratio of 1.65. The firm has a 50 day moving average price of $4.05 and a two-hundred day moving average price of $4.04. The company has a market capitalization of $354.07 million, a price-to-earnings ratio of -3.30 and a beta of 0.99.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $40.02 million during the quarter, compared to the consensus estimate of $38.36 million. Blackrock Tcp Capital had a negative net margin of 61.27% and a positive return on equity of 13.85%. As a group, sell-side analysts expect that Blackrock Tcp Capital Corp. will post 0.66 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $0.17 per share. 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 16.1%. Blackrock Tcp Capital’s payout ratio is currently -53.13%.

Institutional Trading of Blackrock Tcp Capital

A number of hedge funds have recently bought and sold shares of TCPC. Next Capital Management LLC lifted its position in Blackrock Tcp Capital by 13.6% in the first quarter. Next Capital Management LLC now owns 3,049,547 shares of the investment management company’s stock worth $11,009,000 after purchasing an additional 366,008 shares during the period. Van ECK Associates Corp increased its holdings 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 valued at $7,045,000 after buying an additional 442,735 shares during the period. Legal & General Group Plc acquired a new position in shares of Blackrock Tcp Capital in the 2nd quarter valued at $2,245,000. Barings LLC raised its stake in shares of Blackrock Tcp Capital by 4.5% in the 1st quarter. Barings LLC now owns 564,991 shares of the investment management company’s stock valued at $2,040,000 after buying an additional 24,376 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of Blackrock Tcp Capital during the 2nd quarter worth about $1,540,000.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a business development company that provides financing to middle-market companies. The company primarily invests in privately negotiated senior secured loans, subordinated debt and other debt securities, while also making select equity investments. Its portfolio companies operate across a range of industries.

The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in established businesses that may require financing for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.