Blackrock Tcp Capital (NASDAQ:TCPC) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.78 and traded as high as $4.10. Blackrock Tcp Capital shares last traded at $4.05, with a volume of 542,662 shares traded.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Keefe, Bruyette & Woods upgraded Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $3.50 to $4.00 in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Friday, August 28th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $3.75.

Blackrock Tcp Capital Trading Down 4.0%

The company has a debt-to-equity ratio of 1.65, a quick ratio of 33.70 and a current ratio of 33.70. The firm has a market capitalization of $323.01 million, a price-to-earnings ratio of -3.01 and a beta of 0.98. The business has a fifty day moving average price of $3.73 and a 200 day moving average price of $3.77.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its earnings results on Thursday, August 6th. The investment management company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $40.02 million for the quarter, compared to analysts’ expectations of $38.36 million. Blackrock Tcp Capital had a positive return on equity of 13.85% and a negative net margin of 61.27%. As a group, equities analysts forecast that Blackrock Tcp Capital Corp. will post 0.68 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 17.7%. Blackrock Tcp Capital’s payout ratio is presently -53.12%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TCPC. Van Hulzen Asset Management LLC acquired a new position in Blackrock Tcp Capital during the second quarter valued at approximately $160,000. HighTower Advisors LLC raised its stake in shares of Blackrock Tcp Capital by 21.2% in the 2nd quarter. HighTower Advisors LLC now owns 14,114 shares of the investment management company’s stock valued at $47,000 after acquiring an additional 2,468 shares during the period. IMC Chicago LLC raised its stake in shares of Blackrock Tcp Capital by 203.7% in the 2nd quarter. IMC Chicago LLC now owns 13,301 shares of the investment management company’s stock valued at $45,000 after acquiring an additional 26,122 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Blackrock Tcp Capital by 26.8% during 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 acquiring an additional 442,735 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Blackrock Tcp Capital by 230.1% during the 2nd quarter. Bank of America Corp DE now owns 398,785 shares of the investment management company’s stock valued at $1,340,000 after acquiring an additional 277,993 shares in the last quarter.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a business development company that provides financing to middle-market companies, primarily in the United States. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

Its investment portfolio is focused largely on senior secured loans and other forms of secured and unsecured debt, along with select equity investments. BlackRock TCP Capital works with companies across a range of industries and typically supports businesses that may require financing for acquisitions, recapitalizations, growth initiatives, refinancings, or other corporate purposes.

The company was established as TCP Capital Corp.