Short Interest in BlackRock TCP Capital Corp. (NASDAQ:TCPC) Declines By 27.8%

BlackRock TCP Capital Corp. (NASDAQ:TCPC) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,220,000 shares, a decrease of 27.8% from the October 31st total of 1,690,000 shares. Based on an average daily trading volume, of 616,300 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Ratings Changes

TCPC has been the topic of several recent research reports. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company raised their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods cut their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.00.

Insider Buying and Selling

In other BlackRock TCP Capital news, Director Philip M. Tseng bought 10,000 shares of BlackRock TCP Capital stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $9.10 per share, with a total value of $91,000.00. Following the acquisition, the director now owns 27,481 shares in the company, valued at $250,077.10. This trade represents a 57.20 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jason Mehring bought 4,500 shares of BlackRock TCP Capital stock in a transaction on Wednesday, November 27th. The stock was acquired at an average cost of $9.30 per share, for a total transaction of $41,850.00. Following the acquisition, the president now owns 19,914 shares in the company, valued at approximately $185,200.20. This represents a 29.19 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 21,400 shares of company stock valued at $195,566 over the last 90 days. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC bought a new stake in BlackRock TCP Capital in the 3rd quarter valued at about $25,000. McIlrath & Eck LLC bought a new stake in BlackRock TCP Capital in the 3rd quarter valued at about $46,000. International Assets Investment Management LLC bought a new stake in BlackRock TCP Capital in the 2nd quarter valued at about $60,000. Pathway Financial Advisers LLC increased its position 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 buying an additional 6,379 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in BlackRock TCP Capital in the 3rd quarter valued at about $79,000.

BlackRock TCP Capital Trading Up 1.6 %

Shares of NASDAQ:TCPC traded up $0.15 during midday trading on Friday, reaching $9.41. The company’s stock had a trading volume of 433,335 shares, compared to its average volume of 502,595. The firm has a market capitalization of $805.41 million, a price-to-earnings ratio of -18.82 and a beta of 1.47. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The firm has a 50 day moving average price of $8.44 and a two-hundred day moving average price of $9.60. BlackRock TCP Capital has a fifty-two week low of $7.71 and a fifty-two week high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $0.49 earnings per share. As a group, analysts forecast that BlackRock TCP Capital will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 18.70%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, December 17th. BlackRock TCP Capital’s payout ratio is currently -272.00%.

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.