BlackRock TCP Capital Corp. (NASDAQ:TCPC) Short Interest Down 27.8% in November

BlackRock TCP Capital Corp. (NASDAQ:TCPC) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,220,000 shares, a drop 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 currently 2.0 days.

Insider Transactions at BlackRock TCP Capital

In other news, President Jason Mehring bought 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average cost of $9.30 per share, for a total transaction of $41,850.00. Following the acquisition, the president now directly owns 19,914 shares in the company, valued at approximately $185,200.20. This trade represents a 29.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip M. Tseng purchased 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $9.07 per share, with a total value of $45,350.00. Following the purchase, the director now directly owns 17,481 shares in the company, valued at $158,552.67. This represents a 40.06 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 21,400 shares of company stock valued at $195,566 in the last quarter. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TCPC. Future Financial Wealth Managment LLC bought a new position in shares of BlackRock TCP Capital in the third quarter valued at approximately $25,000. McIlrath & Eck LLC bought a new position in BlackRock TCP Capital in the 3rd quarter valued at $46,000. International Assets Investment Management LLC purchased a new position in shares of BlackRock TCP Capital during the 2nd quarter valued at $60,000. Pathway Financial Advisers LLC increased its holdings in shares of BlackRock TCP Capital by 729.0% in the third quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after purchasing an additional 6,379 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of BlackRock TCP Capital in the third quarter worth $79,000.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company upped their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Stock Performance

TCPC traded up $0.15 during trading hours on Friday, hitting $9.41. The stock had a trading volume of 433,335 shares, compared to its average volume of 502,595. The stock has a market cap of $805.41 million, a PE ratio of -18.82 and a beta of 1.47. BlackRock TCP Capital has a 1 year low of $7.71 and a 1 year high of $12.43. 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 company’s fifty day simple moving average is $8.46 and its 200 day simple moving average is $9.59.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The business had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. During the same period last year, the firm earned $0.49 EPS. Equities analysts anticipate that BlackRock TCP Capital will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Increases Dividend

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

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.