BlackRock TCP Capital Corp. (NASDAQ:TCPC) Short Interest Update

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

Analysts Set New Price Targets

TCPC has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, BlackRock TCP Capital presently has an average rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Trading Up 0.2 %

NASDAQ TCPC opened at $8.54 on Tuesday. BlackRock TCP Capital has a 52 week low of $7.71 and a 52 week high of $11.77. The company has a 50 day moving average price of $8.89 and a 200 day moving average price of $9.12. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The firm has a market cap of $730.95 million, a PE ratio of -17.08 and a beta of 1.50.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $70.93 million for 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 period in the previous year, the company posted $0.49 earnings per share. As a group, sell-side analysts forecast that BlackRock TCP Capital will post 1.65 EPS for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 20.61%. The ex-dividend date was Tuesday, December 17th. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently -272.00%.

Insider Activity

In other BlackRock TCP Capital news, President Jason Mehring purchased 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of $9.30 per share, with a total value of $41,850.00. Following the purchase, the president now owns 19,914 shares of the company’s stock, valued at approximately $185,200.20. The trade was a 29.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On BlackRock TCP Capital

Several hedge funds have recently modified their holdings of TCPC. Future Financial Wealth Managment LLC purchased a new stake in BlackRock TCP Capital during the 3rd quarter worth approximately $25,000. McIlrath & Eck LLC acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth $46,000. Pathway Financial Advisers LLC grew its holdings in shares of BlackRock TCP Capital by 729.0% during the third quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock valued at $60,000 after buying an additional 6,379 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of BlackRock TCP Capital in the 3rd quarter valued at $79,000. Finally, Disciplined Investments LLC purchased a new position in BlackRock TCP Capital in the 2nd quarter worth $108,000.

About BlackRock TCP Capital

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.