BlackRock TCP Capital Corp. (NASDAQ:TCPC) Sees Large Decline in Short Interest

BlackRock TCP Capital Corp. (NASDAQ:TCPC) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 1,230,000 shares, a decrease of 34.2% from the December 31st total of 1,870,000 shares. Based on an average daily trading volume, of 595,100 shares, the days-to-cover ratio is currently 2.1 days.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.00.

Insider Buying and Selling at BlackRock TCP Capital

In other news, President Jason Mehring purchased 4,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was acquired at an average cost of $9.30 per share, with a total value of $41,850.00. Following the completion of the transaction, the president now owns 19,914 shares in the company, valued at $185,200.20. This represents a 29.19 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On BlackRock TCP Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in TCPC. Sanctuary Advisors LLC acquired a new stake in shares of BlackRock TCP Capital during the 2nd quarter worth approximately $119,000. Future Financial Wealth Managment LLC acquired a new stake in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC grew its stake in BlackRock TCP Capital by 729.0% in the 3rd quarter. International Assets Investment Management LLC now owns 46,374 shares of the investment management company’s stock valued at $3,840,000 after acquiring an additional 40,780 shares during the period. Arkadios Wealth Advisors grew its stake in BlackRock TCP Capital by 32.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 102,477 shares of the investment management company’s stock valued at $850,000 after acquiring an additional 25,193 shares during the period. Finally, Pathway Financial Advisers LLC grew its stake in BlackRock TCP Capital by 729.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock valued at $60,000 after acquiring an additional 6,379 shares during the period.

BlackRock TCP Capital Trading Up 0.8 %

Shares of NASDAQ:TCPC opened at $9.30 on Wednesday. BlackRock TCP Capital has a twelve month low of $7.71 and a twelve month high of $11.75. The company’s 50 day moving average is $8.96 and its 200 day moving average is $8.98. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). The business had revenue of $70.93 million during the quarter, compared to analyst estimates of $69.13 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. During the same quarter last year, the company posted $0.49 EPS. Analysts expect that BlackRock TCP Capital will post 1.65 EPS for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.44 per share. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 18.92%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -271.99%.

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.