BlackRock TCP Capital (NASDAQ:TCPC) upgraded to buy by Zacks Investment Research


BlackRock TCP Capital (NASDAQ: TCPCGet a rating) has been upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, Zacks.com reports. The company currently has a price target of $15.00 on shares of the investment management firm. Zacks Investment ResearchThe company’s price target would suggest a potential upside of 7.68% from the company’s previous close.

According to Zacks, “BlackRock TCP Capital Corp. is an externally managed non-diversified closed-end investment company. He focused on middle market loans. BlackRock TCP Capital Corp., formerly known as TCP Capital Corp., is headquartered in Santa Monica, California. “

Separately, StockNews.com assumed coverage for BlackRock TCP Capital in a Thursday, March 31 report. They have placed a “holding” rating on the stock. Two equity research analysts gave the stock a hold rating and two gave the company a buy rating. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $14.92.

Shares of NASDAQ: TCPC opened at $13.93 on Friday. The company has a market capitalization of $804.74 million, a P/E ratio of 7.26, a PEG ratio of 0.89 and a beta of 1.50. The company has a debt ratio of 1.22, a quick ratio of 1.45 and a current ratio of 1.45. BlackRock TCP Capital has a 1-year low of $12.71 and a 1-year high of $15.05. The company’s 50-day simple moving average is $13.99 and its 200-day simple moving average is $13.81.

BlackRock TCP Capital (NASDAQ: TCPCGet a rating) last announced its results on Wednesday, May 4. The investment management firm reported EPS of $0.34 for the quarter, beating the consensus estimate of $0.32 by $0.02. BlackRock TCP Capital had a return on equity of 8.99% and a net margin of 66.68%. In the same quarter a year earlier, the company posted EPS of $0.32. Analysts expect BlackRock TCP Capital to post 1.31 earnings per share for the current year.

Several hedge funds and other institutional investors have recently changed their holdings in the company. Invesco Ltd. increased its holdings of BlackRock TCP Capital shares by 0.7% in Q4. Invesco Ltd. now owns 1,046,404 shares of the investment management company valued at $14,137,000 after acquiring an additional 7,572 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of BlackRock TCP Capital by 7.8% in the 4th quarter. Van ECK Associates Corp now owns 938,475 shares of the investment management company valued at $12,678,000 after acquiring an additional 67,718 shares in the last quarter. Confluence Investment Management LLC increased its equity stake in BlackRock TCP Capital by 0.4% in Q1. Confluence Investment Management LLC now owns 421,767 shares of the investment management company valued at $6,032,000 after acquiring an additional 1,571 shares in the last quarter. BlackRock Inc. increased its position in BlackRock TCP Capital by 15.1% during the 4th quarter. BlackRock Inc. now owns 408,804 shares of the investment management company valued at $5,523,000 after purchasing an additional 53,635 shares during the period. Finally, Ares Management LLC strengthened its position in BlackRock TCP Capital by 59.9% in the 4th quarter. Ares Management LLC now owns 367,689 shares of the investment management company valued at $4,967,000 after purchasing an additional 137,681 shares during the period. Institutional investors and hedge funds hold 24.89% of the company’s shares.

BlackRock TCP Capital Company Profile (Get a rating)

BlackRock TCP Capital Corp. is a business development company specializing in direct middle market equity and debt investments, debt securities, senior secured loans, junior loans, insider loans, mezzanine securities, senior debt, bonds and secondary market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, clothing, textile mills, restaurants, retail, energy, oil extraction and gas, patent owners and lessors, state and federal credit agencies, insurance, hospitals and health centers, biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific consulting and related services , air freight charter, information technology consulting, application hosting services, software layout and design, computer aided design, communication equipment, electronic manufacturing equipment, computer components, chemicals.

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