BlackRock TCP Capital Corp (NASDAQ:TCPC) Short Interest Update

BlackRock TCP Capital Corp (NASDAQ:TCPC) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 221,200 shares, a decline of 16.0% from the June 30th total of 263,300 shares. Based on an average trading volume of 231,500 shares, the short-interest ratio is presently 1.0 days. Currently, 0.4% of the shares of the company are short sold.

Shares of TCPC traded down $0.13 during trading hours on Thursday, reaching $13.16. 321,400 shares of the stock traded hands, compared to its average volume of 250,754. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.97. BlackRock TCP Capital has a 52-week low of $12.52 and a 52-week high of $14.88. The company’s 50-day moving average price is $14.04 and its two-hundred day moving average price is $14.34. The company has a market cap of $781.05 million, a P/E ratio of 8.28, a price-to-earnings-growth ratio of 2.80 and a beta of 0.70.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Thursday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $48.18 million for the quarter, compared to analysts’ expectations of $47.17 million. BlackRock TCP Capital had a net margin of 14.19% and a return on equity of 11.32%. On average, research analysts forecast that BlackRock TCP Capital will post 1.6 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 10.94%. The ex-dividend date of this dividend is Friday, September 13th. BlackRock TCP Capital’s payout ratio is currently 90.57%.

A number of hedge funds have recently made changes to their positions in TCPC. Bank of America Corp DE grew its holdings in shares of BlackRock TCP Capital by 8.9% during the fourth quarter. Bank of America Corp DE now owns 405,430 shares of the investment management company’s stock worth $5,287,000 after buying an additional 33,119 shares in the last quarter. Jane Street Group LLC bought a new position in shares of BlackRock TCP Capital during the fourth quarter worth about $240,000. Spectrum Management Group Inc. bought a new position in shares of BlackRock TCP Capital during the first quarter worth about $142,000. Confluence Investment Management LLC grew its holdings in shares of BlackRock TCP Capital by 4.8% during the first quarter. Confluence Investment Management LLC now owns 855,825 shares of the investment management company’s stock worth $12,135,000 after buying an additional 39,556 shares in the last quarter. Finally, CFO4Life Group LLC grew its holdings in shares of BlackRock TCP Capital by 20.1% during the first quarter. CFO4Life Group LLC now owns 14,049 shares of the investment management company’s stock worth $199,000 after buying an additional 2,356 shares in the last quarter. Institutional investors and hedge funds own 41.93% of the company’s stock.

A number of brokerages have recently issued reports on TCPC. Zacks Investment Research downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Tuesday. TheStreet upgraded shares of BlackRock TCP Capital from a “c+” rating to a “b” rating in a research note on Tuesday, May 28th. BidaskClub upgraded shares of BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a research note on Friday, August 2nd. ValuEngine cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Finally, National Securities restated a “buy” rating and set a $18.00 target price on shares of BlackRock TCP Capital in a research note on Monday, May 13th. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $16.30.

About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

Further Reading: Growth Stocks

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