Blackrock Capital Investment (BKCC) Cut to Strong Sell at BidaskClub

BidaskClub lowered shares of Blackrock Capital Investment (NASDAQ:BKCC) from a sell rating to a strong sell rating in a research report released on Tuesday, January 9th.

Several other analysts have also recently commented on the stock. Zacks Investment Research raised shares of Blackrock Capital Investment from a strong sell rating to a hold rating in a research note on Tuesday, October 3rd. ValuEngine upgraded shares of Blackrock Capital Investment from a hold rating to a buy rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods set a $8.00 price objective on shares of Blackrock Capital Investment and gave the stock a hold rating in a report on Thursday, October 5th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Blackrock Capital Investment from $8.00 to $7.50 and set a neutral rating on the stock in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $7.42.

Shares of Blackrock Capital Investment (BKCC) traded up $0.03 on Tuesday, reaching $6.16. The company’s stock had a trading volume of 365,000 shares, compared to its average volume of 492,427. Blackrock Capital Investment has a 12 month low of $6.05 and a 12 month high of $7.89. The stock has a market cap of $454.76, a price-to-earnings ratio of 25.67, a PEG ratio of 8.23 and a beta of 0.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.77 and a quick ratio of 0.77.

Blackrock Capital Investment (NASDAQ:BKCC) last posted its quarterly earnings results on Wednesday, November 8th. The asset manager reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.04). Blackrock Capital Investment had a net margin of 19.87% and a return on equity of 9.67%. The company had revenue of $22.76 million for the quarter, compared to analyst estimates of $24.75 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. Blackrock Capital Investment’s revenue was down 12.9% on a year-over-year basis. equities analysts predict that Blackrock Capital Investment will post 0.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 11.69%. The ex-dividend date of this dividend was Monday, December 18th. Blackrock Capital Investment’s dividend payout ratio (DPR) is 300.00%.

In related news, Director Mark S. Lies acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was acquired at an average cost of $6.72 per share, for a total transaction of $336,000.00. Following the completion of the acquisition, the director now directly owns 155,000 shares of the company’s stock, valued at approximately $1,041,600. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman James Keenan acquired 20,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was bought at an average price of $6.54 per share, with a total value of $130,800.00. Following the completion of the acquisition, the chairman now directly owns 35,182 shares of the company’s stock, valued at $230,090.28. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 87,750 shares of company stock valued at $584,553. 1.34% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BKCC. Fieldpoint Private Securities LLC purchased a new stake in shares of Blackrock Capital Investment in the 3rd quarter valued at approximately $101,000. Trexquant Investment LP purchased a new stake in shares of Blackrock Capital Investment in the 3rd quarter valued at approximately $106,000. Airain ltd purchased a new stake in shares of Blackrock Capital Investment in the 2nd quarter valued at approximately $123,000. GSA Capital Partners LLP purchased a new stake in shares of Blackrock Capital Investment in the 2nd quarter valued at approximately $127,000. Finally, Northern Trust Corp lifted its position in shares of Blackrock Capital Investment by 50.3% in the 2nd quarter. Northern Trust Corp now owns 17,598 shares of the asset manager’s stock valued at $131,000 after acquiring an additional 5,887 shares in the last quarter. 31.05% of the stock is owned by institutional investors and hedge funds.

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About Blackrock Capital Investment

BlackRock Capital Investment Corporation is an externally-managed, non-diversified, closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation through its debt and equity investments. The Company provides middle-market companies with a range of financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities.

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