The stock of BlackRock TCP Capital Corp (NASDAQ: TCPC) has decreased by -2.08 when compared to last closing price of 9.13. Despite this, the company has experienced a -2.72% fall in its stock price over the last five trading sessions. seekingalpha.com reported 2024-08-31 that The BDC sector faces headwinds such as spread compression, potential Fed rate cuts, and increased corporate distress. Despite these challenges, BDC market indices like VanEck BDC Income ETF and Putnam BDC Income ETF show only minor corrections. Yet, the small, illiquid nature of the BDC sector means ETFs may not fully capture overall sector dynamics.
Is It Worth Investing in BlackRock TCP Capital Corp (NASDAQ: TCPC) Right Now?
Company’s 36-month beta value is 1.51.Analysts have differing opinions on the stock, with 4 analysts rating it as a “buy,” 4 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for TCPC is 85.34M, and currently, short sellers hold a 1.41% ratio of that floaft. The average trading volume of TCPC on September 13, 2024 was 451.16K shares.
TCPC’s Market Performance
The stock of BlackRock TCP Capital Corp (TCPC) has seen a -2.72% decrease in the past week, with a 2.76% rise in the past month, and a -21.37% fall in the past quarter. The volatility ratio for the week is 2.04%, and the volatility levels for the past 30 days are at 2.01% for TCPC. The simple moving average for the last 20 days is -1.51% for TCPC stock, with a simple moving average of -16.44% for the last 200 days.
Analysts’ Opinion of TCPC
Many brokerage firms have already submitted their reports for TCPC stocks, with Wells Fargo repeating the rating for TCPC by listing it as a “Underweight.” The predicted price for TCPC in the upcoming period, according to Wells Fargo is $8 based on the research report published on August 26, 2024 of the current year 2024.
Oppenheimer gave a rating of “Perform” to TCPC, setting the target price at $11 in the report published on March 06th of the current year.
TCPC Trading at -9.59% from the 50-Day Moving Average
After a stumble in the market that brought TCPC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -26.95% of loss for the given period.
Volatility was left at 2.01%, however, over the last 30 days, the volatility rate increased by 2.04%, as shares surge +1.82% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -18.43% lower at present.
During the last 5 trading sessions, TCPC fell by -2.72%, which changed the moving average for the period of 200-days by -24.62% in comparison to the 20-day moving average, which settled at $9.09. In addition, BlackRock TCP Capital Corp saw -22.53% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at TCPC starting from Tseng Philip M, who purchase 10,000 shares at the price of $9.10 back on Sep 10 ’24. After this action, Tseng Philip M now owns 27,481 shares of BlackRock TCP Capital Corp, valued at $91,000 using the latest closing price.
Tseng Philip M, the Director and President of BlackRock TCP Capital Corp, purchase 5,000 shares at $9.07 during a trade that took place back on Sep 06 ’24, which means that Tseng Philip M is holding 17,481 shares at $45,350 based on the most recent closing price.
Stock Fundamentals for TCPC
Current profitability levels for the company are sitting at:
- 0.09 for the present operating margin
- 0.75 for the gross margin
The net margin for BlackRock TCP Capital Corp stands at -0.3. The total capital return value is set at 0.01. Equity return is now at value -5.80, with -2.40 for asset returns.
Based on BlackRock TCP Capital Corp (TCPC), the company’s capital structure generated 0.6 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 1.51. The interest coverage ratio of the stock is 0.24.
Currently, EBITDA for the company is 86.29 million with net debt to EBITDA at 82.79. When we switch over and look at the enterprise to sales, we see a ratio of 12.09. The receivables turnover for the company is 4.52for trailing twelve months and the total asset turnover is 0.07.
Conclusion
In a nutshell, BlackRock TCP Capital Corp (TCPC) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
