BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,810,000 shares, a growth of 21.5% from the September 30th total of 1,490,000 shares. Based on an average daily volume of 619,600 shares, the days-to-cover ratio is currently 2.9 days.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on TCPC. Wells Fargo & Company cut shares of BlackRock TCP Capital from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $8.50 to $8.00 in a research report on Monday, August 26th. Keefe, Bruyette & Woods dropped 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. LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a "buy" rating to a "neutral" rating in a research note on Thursday, August 8th. Finally, StockNews.com downgraded BlackRock TCP Capital from a "hold" rating to a "sell" rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $9.00.
Read Our Latest Stock Analysis on TCPC
BlackRock TCP Capital Stock Down 1.0 %
Shares of NASDAQ TCPC traded down $0.08 during mid-day trading on Monday, hitting $8.31. The company had a trading volume of 360,203 shares, compared to its average volume of 491,605. The company has a market capitalization of $711.25 million, a PE ratio of -15.68 and a beta of 1.47. The business's 50-day simple moving average is $8.58 and its 200 day simple moving average is $9.84. BlackRock TCP Capital has a 1-year low of $8.02 and a 1-year high of $12.43. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47.
BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. The company had revenue of $71.53 million during the quarter, compared to analysts' expectations of $70.39 million. During the same quarter in the previous year, the business posted $0.48 EPS. On average, analysts predict that BlackRock TCP Capital will post 1.66 earnings per share for the current year.
BlackRock TCP Capital Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 16.37%. The ex-dividend date was Monday, September 16th. BlackRock TCP Capital's dividend payout ratio (DPR) is presently -256.60%.
Insider Buying and Selling at BlackRock TCP Capital
In other news, Director Philip M. Tseng purchased 10,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the acquisition, the director now directly owns 27,481 shares of the company's stock, valued at approximately $250,077.10. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock TCP Capital news, Director Philip M. Tseng purchased 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $9.10 per share, for a total transaction 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 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rajneesh Vig acquired 25,000 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average cost of $9.09 per share, with a total value of $227,250.00. Following the completion of the transaction, the chief executive officer now directly owns 130,930 shares in the company, valued at approximately $1,190,153.70. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 42,000 shares of company stock worth $381,875 in the last ninety days. 0.16% of the stock is owned by insiders.
Institutional Investors Weigh In On BlackRock TCP Capital
Several institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC raised its holdings in BlackRock TCP Capital by 729.0% during 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 in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in BlackRock TCP Capital during the 3rd quarter worth $431,000. Arkadios Wealth Advisors lifted its position in BlackRock TCP Capital by 32.6% in the third quarter. Arkadios Wealth Advisors now owns 102,477 shares of the investment management company's stock valued at $850,000 after acquiring an additional 25,193 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of BlackRock TCP Capital by 729.0% during the third quarter. International Assets Investment Management LLC now owns 46,374 shares of the investment management company's stock worth $3,840,000 after purchasing an additional 40,780 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth about $25,000.
About BlackRock TCP Capital
(
Get Free Report)
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.
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