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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,210,000 shares, an increase of 16.3% from the August 15th total of 1,040,000 shares. Based on an average daily trading volume, of 447,000 shares, the short-interest ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

TCPC has been the topic of several research reports. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company downgraded BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $8.50 to $8.00 in a report on Monday, August 26th. Finally, Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, BlackRock TCP Capital presently has an average rating of “Hold” and a consensus price target of $9.00.

Insider Transactions at BlackRock TCP Capital

In other news, CEO Rajneesh Vig acquired 25,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were purchased at an average price of $9.09 per share, with a total value of $227,250.00. Following the transaction, the chief executive officer now directly owns 130,930 shares in the company, valued at $1,190,153.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other BlackRock TCP Capital news, CEO Rajneesh Vig acquired 25,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the purchase, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Philip M. Tseng bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $9.10 per share, with a total value of $91,000.00. Following the completion of the purchase, the director now owns 27,481 shares in the company, valued at $250,077.10. The disclosure for this purchase can be found here. Insiders have bought a total of 42,000 shares of company stock valued at $381,875 in the last 90 days. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On BlackRock TCP Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Register Financial Advisors LLC acquired a new stake in BlackRock TCP Capital in the 1st quarter valued at approximately $26,000. Future Financial Wealth Managment LLC bought a new stake in BlackRock TCP Capital during the 1st quarter worth approximately $31,000. International Assets Investment Management LLC bought a new position in shares of BlackRock TCP Capital during the 2nd quarter worth approximately $60,000. Tucker Asset Management LLC bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth approximately $74,000. Finally, Cape Investment Advisory Inc. acquired a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at approximately $74,000.

BlackRock TCP Capital Stock Performance

Shares of TCPC stock traded up $0.03 on Friday, hitting $8.97. 1,014,078 shares of the stock traded hands, compared to its average volume of 500,837. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47. The company has a market capitalization of $767.74 million, a PE ratio of 25.63 and a beta of 1.48. BlackRock TCP Capital has a 1-year low of $8.59 and a 1-year high of $12.43. The company’s fifty day moving average is $9.77 and its 200 day moving average is $10.29.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The company had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.39 million. During the same period last year, the company earned $0.48 earnings per share. On average, equities research analysts predict that BlackRock TCP Capital will post 1.68 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 15.16%. The ex-dividend date is Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio is currently 388.58%.

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.