BlackRock TCP Capital Corp. (NASDAQ:TCPC) Short Interest Down 26.5% in April


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BlackRock TCP Capital Corp. (NASDAQ:TCPC) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 439,200 shares, a decrease of 26.5% from the March 31st total of 597,600 shares. Based on an average daily trading volume, of 311,400 shares, the short-interest ratio is presently 1.4 days. Approximately 0.8% of the shares of the stock are sold short.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Zone Wealth Advisors LLC acquired a new position in BlackRock TCP Capital during the first quarter valued at $2,857,000. AE Wealth Management LLC raised its position in shares of BlackRock TCP Capital by 7.1% in the first quarter. AE Wealth Management LLC now owns 12,392 shares of the investment management company’s stock worth $171,000 after acquiring an additional 826 shares during the period. Arkadios Wealth Advisors raised its position in shares of BlackRock TCP Capital by 15.6% in the first quarter. Arkadios Wealth Advisors now owns 51,001 shares of the investment management company’s stock worth $705,000 after acquiring an additional 6,876 shares during the period. Rockland Trust Co. acquired a new position in shares of BlackRock TCP Capital in the first quarter worth about $238,000. Finally, Jane Street Group LLC acquired a new position in shares of BlackRock TCP Capital in the fourth quarter worth about $216,000. Institutional investors own 28.95% of the company’s stock.

A number of equities research analysts have issued reports on the company. TheStreet upgraded BlackRock TCP Capital from a “c” rating to a “b” rating in a research note on Thursday, April 1st. Zacks Investment Research lowered BlackRock TCP Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, February 23rd. Raymond James upgraded BlackRock TCP Capital from a “market perform” rating to an “outperform” rating and set a $14.00 price target for the company in a research report on Thursday, March 4th. Oppenheimer reiterated a “buy” rating and issued a $14.00 price target on shares of BlackRock TCP Capital in a research report on Friday, February 26th. Finally, JMP Securities reissued an “outperform” rating and issued a $14.50 price objective on shares of BlackRock TCP Capital in a research note on Tuesday, March 9th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. BlackRock TCP Capital currently has an average rating of “Buy” and an average price target of $14.13.

Shares of TCPC traded down $0.23 during trading hours on Tuesday, reaching $14.38. 9,907 shares of the company traded hands, compared to its average volume of 290,407. The stock has a market capitalization of $830.69 million, a P/E ratio of 35.63 and a beta of 1.65. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 1.27. BlackRock TCP Capital has a 12-month low of $7.67 and a 12-month high of $15.07. The business has a fifty day moving average price of $14.35 and a 200-day moving average price of $12.31.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, February 24th. The investment management company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $42.89 million for the quarter, compared to analyst estimates of $40.95 million. BlackRock TCP Capital had a net margin of 12.56% and a return on equity of 11.83%. As a group, research analysts predict that BlackRock TCP Capital will post 1.42 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Wednesday, March 17th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 16th. This represents a $1.20 dividend on an annualized basis and a yield of 8.34%. BlackRock TCP Capital’s dividend payout ratio is presently 74.53%.

About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, 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.

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