Short Interest in BlackRock TCP Capital Corp. (NASDAQ:TCPC) Drops By 17.7%

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,020,000 shares, a drop of 17.7% from the January 15th total of 1,240,000 shares. Based on an average daily volume of 579,700 shares, the days-to-cover ratio is currently 1.8 days.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company boosted 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. StockNews.com raised shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $9.00.

Insider Activity

In other news, President Jason Mehring purchased 4,500 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were acquired at an average price of $9.30 per share, with a total value of $41,850.00. Following the completion of the transaction, the president now owns 19,914 shares of the company's stock, valued at $185,200.20. The trade was a 29.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors have recently bought and sold shares of TCPC. Van ECK Associates Corp lifted its holdings in BlackRock TCP Capital by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company's stock valued at $19,186,000 after purchasing an additional 95,603 shares during the last quarter. Transcend Capital Advisors LLC lifted its position in shares of BlackRock TCP Capital by 17.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company's stock worth $12,477,000 after acquiring an additional 209,898 shares in the last quarter. TrueMark Investments LLC bought a new position in shares of BlackRock TCP Capital in the fourth quarter worth $5,268,000. Envestnet Asset Management Inc. raised its stake in shares of BlackRock TCP Capital by 623.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock valued at $4,867,000 after purchasing an additional 481,581 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in BlackRock TCP Capital by 3.7% during the 3rd quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company's stock valued at $4,024,000 after buying an additional 17,218 shares in the last quarter.

BlackRock TCP Capital Stock Performance

NASDAQ TCPC traded up $0.02 during trading hours on Wednesday, reaching $9.42. 608,286 shares of the company were exchanged, compared to its average volume of 470,543. 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 stock has a market capitalization of $806.26 million, a P/E ratio of -18.84 and a beta of 1.50. BlackRock TCP Capital has a 1 year low of $7.71 and a 1 year high of $11.52. The business's 50 day simple moving average is $8.94 and its 200-day simple moving average is $8.82.

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.