PNC Financial Services Group Inc. raised its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC – Free Report) by 1,710.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,218 shares of the investment management company’s stock after purchasing an additional 34,218 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BlackRock TCP Capital were worth $425,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Advisory Research Inc. grew its stake in BlackRock TCP Capital by 1.3% in the third quarter. Advisory Research Inc. now owns 57,693 shares of the investment management company’s stock valued at $631,000 after purchasing an additional 757 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in BlackRock TCP Capital by 3.4% in the first quarter. Envestnet Asset Management Inc. now owns 24,316 shares of the investment management company’s stock valued at $348,000 after purchasing an additional 810 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of BlackRock TCP Capital by 3.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,996 shares of the investment management company’s stock worth $376,000 after acquiring an additional 1,118 shares during the period. Mariner LLC boosted its stake in shares of BlackRock TCP Capital by 6.4% during the 4th quarter. Mariner LLC now owns 24,454 shares of the investment management company’s stock worth $316,000 after acquiring an additional 1,469 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of BlackRock TCP Capital by 1.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 91,444 shares of the investment management company’s stock worth $941,000 after acquiring an additional 1,481 shares during the period.
Analysts Set New Price Targets
Several brokerages have recently commented on TCPC. Wells Fargo & Company lifted their target price on BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. TheStreet downgraded BlackRock TCP Capital from a “b-” rating to a “c” rating in a research note on Friday, November 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.30.
Read Our Latest Stock Report on BlackRock TCP Capital
BlackRock TCP Capital Stock Performance
TCPC opened at $10.72 on Friday. The business has a fifty day simple moving average of $11.42 and a 200 day simple moving average of $11.58. The company has a market capitalization of $619.29 million, a PE ratio of 178.67 and a beta of 1.46. BlackRock TCP Capital Corp. has a 1 year low of $9.60 and a 1 year high of $13.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 29.53 and a quick ratio of 29.53.
BlackRock TCP Capital Company Profile
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.
See Also
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Source: americanbankingnews.com
