Blackrock Tcp Capital (NASDAQ:TCPC) Upgraded at Keefe, Bruyette & Woods

Blackrock Tcp Capital (NASDAQ:TCPC) was upgraded by investment analysts at Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

TCPC has been the subject of several other research reports. Wall Street Zen upgraded shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackrock Tcp Capital in a research note on Tuesday, June 2nd. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $3.50.

Blackrock Tcp Capital Trading Up 4.0%

Shares of NASDAQ TCPC traded up $0.15 during trading hours on Friday, hitting $4.05. 1,189,893 shares of the company traded hands, compared to its average volume of 1,013,899. The company’s 50 day moving average price is $3.41 and its 200 day moving average price is $3.97. Blackrock Tcp Capital has a 12 month low of $3.08 and a 12 month high of $7.28. The stock has a market capitalization of $340.23 million, a price-to-earnings ratio of -2.72 and a beta of 0.94. The company has a current ratio of 21.44, a quick ratio of 21.44 and a debt-to-equity ratio of 1.64.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Blackrock Tcp Capital had a negative net margin of 66.92% and a positive return on equity of 14.30%. The company had revenue of $40.02 million for the quarter, compared to analyst estimates of $38.36 million. On average, equities research analysts anticipate that Blackrock Tcp Capital will post 0.83 earnings per share for the current fiscal year.

Institutional Trading of Blackrock Tcp Capital

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC increased its stake in Blackrock Tcp Capital by 188.7% during the 4th quarter. Sound Income Strategies LLC now owns 5,072 shares of the investment management company’s stock worth $29,000 after buying an additional 3,315 shares in the last quarter. IMC Chicago LLC purchased a new stake in shares of Blackrock Tcp Capital during the second quarter worth approximately $45,000. Blue Trust Inc. purchased a new stake in shares of Blackrock Tcp Capital during the fourth quarter worth approximately $59,000. CIBC Bancorp USA Inc. acquired a new position in Blackrock Tcp Capital in the 3rd quarter valued at $65,000. Finally, Cerity Partners LLC acquired a new position in Blackrock Tcp Capital in the 4th quarter valued at $70,000.

About Blackrock Tcp Capital

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.