By otakuyassine3@gmail.com 
BlackRock TCP Capital Corp. (NASDAQ:TCPC – Get Free Report) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 1,230,000 shares, a decline of 34.2% from the December 15th total of 1,870,000 shares. Based on an average trading volume of 595,100 shares, the days-to-cover ratio is currently 2.1 days.
BlackRock TCP Capital Stock Up 2.3 %
TCPC traded up $0.20 during trading on Thursday, hitting $8.86. The company had a trading volume of 372,465 shares, compared to its average volume of 393,006. BlackRock TCP Capital has a 1-year low of $7.71 and a 1-year high of $11.77. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The company has a market cap of $758.33 million, a PE ratio of -17.72 and a beta of 1.50. The business has a 50-day moving average of $8.91 and a 200-day moving average of $9.10.
BlackRock TCP Capital (NASDAQ:TCPC – Get Free Report) last issued its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The company had revenue of $70.93 million during the quarter, compared to analyst estimates of $69.13 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. During the same quarter last year, the company posted $0.49 EPS. As a group, analysts forecast that BlackRock TCP Capital will post 1.65 earnings per share for the current year.
BlackRock TCP Capital Increases Dividend
The company also recently announced 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 a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.76 annualized dividend and a dividend yield of 19.86%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -271.99%.
Analyst Ratings Changes
Several research firms recently issued reports on TCPC. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.00.
Read Our Latest Stock Report on BlackRock TCP Capital
Insider Activity at BlackRock TCP Capital
In other news, President Jason Mehring acquired 4,500 shares of the stock in a transaction on Wednesday, November 27th. The stock was bought 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 directly owns 19,914 shares of the company’s stock, valued at $185,200.20. The trade was a 29.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.
Institutional Investors Weigh In On BlackRock TCP Capital
A number of institutional investors have recently made changes to their positions in TCPC. Future Financial Wealth Managment LLC acquired a new position in BlackRock TCP Capital in the third quarter worth $25,000. McIlrath & Eck LLC bought a new position in shares of BlackRock TCP Capital in the 3rd quarter worth about $46,000. Pathway Financial Advisers LLC boosted its holdings in shares of 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 valued at $60,000 after buying an additional 6,379 shares during the period. Quantbot Technologies LP bought a new stake in shares of BlackRock TCP Capital during the 3rd quarter valued at about $79,000. Finally, MeadowBrook Investment Advisors LLC raised its stake in 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 worth $90,000 after acquiring 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.
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