Zacks Investment Research Lowers Blackrock Capital Investment (BKCC) to Strong Sell

Blackrock Capital Investment (NASDAQ:BKCC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday.

According to Zacks, “BlackRock Kelso Capital Corporation provides responsive, creative and flexible capital solutions to middle-market companies. BlackRock Kelso Capital provides middle-market companies with flexible financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities. The Companies strategy is to provide capital to meet our clients’ current and future needs across this spectrum, creating long-term partnerships with growing middle-market companies. “

A number of other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Blackrock Capital Investment from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 9th. ValuEngine upgraded shares of Blackrock Capital Investment from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $7.00 target price on shares of Blackrock Capital Investment in a research report on Friday, November 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Blackrock Capital Investment from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Blackrock Capital Investment presently has a consensus rating of “Hold” and an average target price of $7.42.

Shares of Blackrock Capital Investment (BKCC) traded up $0.13 during midday trading on Thursday, hitting $5.73. 602,683 shares of the stock were exchanged, compared to its average volume of 430,203. The firm has a market cap of $419.28, a P/E ratio of 20.46, a P/E/G ratio of 7.80 and a beta of 0.74. Blackrock Capital Investment has a 1 year low of $5.49 and a 1 year high of $7.89. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.42.

Blackrock Capital Investment (NASDAQ:BKCC) last issued 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 return on equity of 9.67% and a net margin of 19.87%. The firm had revenue of $22.76 million during the quarter, compared to analyst estimates of $24.75 million. During the same quarter last year, the firm posted $0.21 EPS. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. sell-side analysts expect that Blackrock Capital Investment will post 0.74 earnings per share for the current year.

In other Blackrock Capital Investment news, CEO Michael J. Zugay acquired 15,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were purchased at an average price of $6.62 per share, for a total transaction of $99,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark S. Lies acquired 50,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were acquired at an average price of $6.72 per share, for a total transaction of $336,000.00. Following the acquisition, the director now owns 155,000 shares of the company’s stock, valued at approximately $1,041,600. The disclosure for this purchase can be found here. Insiders have purchased a total of 87,750 shares of company stock worth $584,553 in the last quarter. 1.34% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BKCC. GSA Capital Partners LLP acquired a new position in Blackrock Capital Investment during the second quarter worth $127,000. Northern Trust Corp raised its holdings in Blackrock Capital Investment by 50.3% during the second quarter. Northern Trust Corp now owns 17,598 shares of the asset manager’s stock worth $131,000 after buying an additional 5,887 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in Blackrock Capital Investment by 0.4% during the second quarter. Parametric Portfolio Associates LLC now owns 54,535 shares of the asset manager’s stock worth $408,000 after buying an additional 223 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Blackrock Capital Investment during the second quarter worth $340,000. Finally, Osborn Williams & Donohoe LLC raised its holdings in Blackrock Capital Investment by 9.7% during the third quarter. Osborn Williams & Donohoe LLC now owns 95,009 shares of the asset manager’s stock worth $713,000 after buying an additional 8,439 shares during the last quarter. Hedge funds and other institutional investors own 31.00% of the company’s stock.

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Blackrock Capital Investment Company Profile

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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