Short Interest in BlackRock TCP Capital Corp. (NASDAQ:TCPC) Decreases By 34.2%

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

BlackRock TCP Capital Stock Performance

Shares of TCPC stock opened at $8.54 on Tuesday. 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 has a 12-month low of $7.71 and a 12-month high of $11.77. The business’s 50 day moving average is $8.89 and its two-hundred day moving average is $9.12. The company has a market capitalization of $730.95 million, a P/E ratio of -17.08 and a beta of 1.50.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its 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 analysts’ expectations of $69.13 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. During the same quarter last year, the business earned $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 business also recently announced 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. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 20.61%. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s payout ratio is currently -272.00%.

Analysts Set New Price Targets

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

Insider Buying and Selling at BlackRock TCP Capital

In related news, President Jason Mehring acquired 4,500 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $9.30 per share, with a total value of $41,850.00. Following the acquisition, the president now directly owns 19,914 shares in the company, valued at $185,200.20. This represents a 29.19 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TCPC. Van ECK Associates Corp raised its stake in BlackRock TCP Capital by 7.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock valued at $17,257,000 after purchasing an additional 143,667 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of BlackRock TCP Capital by 3.7% in the third quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company’s stock worth $4,024,000 after buying an additional 17,218 shares in the last quarter. Arkadios Wealth Advisors boosted its position in BlackRock TCP Capital by 32.6% during the third quarter. Arkadios Wealth Advisors now owns 102,477 shares of the investment management company’s stock worth $850,000 after acquiring an additional 25,193 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its stake in BlackRock TCP Capital by 51.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 85,514 shares of the investment management company’s stock valued at $709,000 after acquiring an additional 29,209 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in BlackRock TCP Capital in the 3rd quarter valued at about $608,000.

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.