Short Interest in BlackRock TCP Capital Corp. (NASDAQ:TCPC) Declines By 34.2%

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,230,000 shares, a drop of 34.2% from the December 15th total of 1,870,000 shares. Based on an average daily trading volume, of 595,100 shares, the days-to-cover ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

TCPC has been the subject of several research reports. StockNews.com upgraded BlackRock TCP Capital from a "sell" rating to a "hold" rating in a report on Monday, November 18th. Wells Fargo & Company lifted their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $9.00.

BlackRock TCP Capital Stock Up 1.5 %

NASDAQ:TCPC traded up $0.13 during trading hours on Tuesday, hitting $8.67. The company's stock had a trading volume of 225,728 shares, compared to its average volume of 394,703. The stock has a fifty day moving average of $8.89 and a 200-day moving average of $9.12. The stock has a market capitalization of $742.07 million, a P/E ratio of -17.34 and a beta of 1.50. BlackRock TCP Capital has a 52-week low of $7.71 and a 52-week high of $11.77. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. The company had revenue of $70.93 million for the quarter, compared to analyst estimates of $69.13 million. During the same period in the prior year, the business earned $0.49 earnings per share. On average, equities analysts forecast 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 was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a $0.44 dividend. This is an increase from BlackRock TCP Capital's previous quarterly dividend of $0.34. This represents a $1.76 annualized dividend and a dividend yield of 20.30%. The ex-dividend date of this dividend was Tuesday, December 17th. BlackRock TCP Capital's dividend payout ratio is currently -272.00%.

Insider Activity

In other news, President Jason Mehring purchased 4,500 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the completion of the acquisition, the president now directly owns 19,914 shares in the company, valued at $185,200.20. This represents a 29.19 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC purchased a new position in BlackRock TCP Capital in the third quarter valued at about $25,000. McIlrath & Eck LLC acquired a new position in BlackRock TCP Capital during the 3rd quarter worth approximately $46,000. Pathway Financial Advisers LLC boosted its holdings 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 worth $60,000 after acquiring an additional 6,379 shares during the period. Quantbot Technologies LP acquired a new stake in BlackRock TCP Capital in the third quarter valued at approximately $79,000. Finally, MeadowBrook Investment Advisors LLC raised its stake in shares of BlackRock TCP Capital by 22.2% during the third quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company's stock valued at $90,000 after purchasing an additional 1,970 shares during the period.

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.