BlackRock TCP Capital Corp (NASDAQ: TCPC)’s stock price has plunge by -1.01relation to previous closing price of 8.87. Nevertheless, the company has seen a 0.80% surge in its stock price over the last five trading sessions. seekingalpha.com reported 2024-11-06 that BlackRock TCP Capital Corp (NASDAQ:TCPC ) Q3 2024 Earnings Conference Call November 6, 2024 1:00 PM ET Company Participants Michaela Murray – Investor Relations Raj Vig – Chairman & Chief Executive Officer Phil Tseng – President Erik Cuellar – Chief Financial Officer Conference Call Participants Finian O’Shea – Wells Fargo Robert Dodd – Raymond James Paul Johnson – KBW Christopher Nolan – Ladenburg Thalmann Operator Ladies and gentlemen, good afternoon. Welcome everyone to BlackRock TCP Capital Corp Third Quarter 2024 Earnings Conference Call.
Is It Worth Investing in BlackRock TCP Capital Corp (NASDAQ: TCPC) Right Now?
Moreover, the 36-month beta value for TCPC is 1.52. Analysts have varying 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 85.31M and currently, short sellers hold a 1.98% of that float. On November 15, 2024, TCPC’s average trading volume was 627.75K shares.
TCPC’s Market Performance
The stock of BlackRock TCP Capital Corp (TCPC) has seen a 0.80% increase in the past week, with a 5.28% rise in the past month, and a -2.88% fall in the past quarter. The volatility ratio for the week is 2.66%, and the volatility levels for the past 30 days are at 2.44% for TCPC. The simple moving average for the last 20 days is 5.13% for TCPC stock, with a simple moving average of -11.56% 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 4.59% 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 -27.91% of loss for the given period.
Volatility was left at 2.44%, however, over the last 30 days, the volatility rate increased by 2.66%, as shares surge +6.81% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -4.46% lower at present.
During the last 5 trading sessions, TCPC rose by +0.80%, which changed the moving average for the period of 200-days by -23.52% in comparison to the 20-day moving average, which settled at $8.35. In addition, BlackRock TCP Capital Corp saw -23.92% 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
- 0.81 for the gross margin
The net margin for BlackRock TCP Capital Corp stands at -0.18. The total capital return value is set at 0.01.
Based on BlackRock TCP Capital Corp (TCPC), the company’s capital structure generated 0.57 points at debt to capital in total, while cash flow to debt ratio is standing at 0.22. The debt to equity ratio resting at 1.34. The interest coverage ratio of the stock is 0.3.
Currently, EBITDA for the company is 86.29 million with net debt to EBITDA at 93.91. When we switch over and look at the enterprise to sales, we see a ratio of 8.49. The receivables turnover for the company is 8.25for trailing twelve months and the total asset turnover is 0.1.
Conclusion
To wrap up, the performance of BlackRock TCP Capital Corp (TCPC) has been mixed in recent times. The stock has received a bullish of “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.
