Blackrock Tcp Capital Corp. (NASDAQ:TCPC) Short Interest Up 23.4% in July

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totaling 2,110,000 shares, agrowthof23.4% from the July 15th total of 1,710,000 shares. Based on an average daily trading volume, of 512,500 shares, the days-to-cover ratio is presently 4.1 days. Currently,2.5% of the company’s stock are sold short. Currently,2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 512,500 shares, the days-to-cover ratio is presently 4.1 days.

Analysts Set New Price Targets

TCPC has been the topic of a number of research reports. Wall Street Zen cut Blackrock Tcp Capital from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Wells Fargo & Company reiterated an “underweight” rating and set a $6.00 price target (down from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $6.75.

Blackrock Tcp Capital Stock Down 0.3%

Shares of Blackrock Tcp Capital stock opened at $7.08 on Friday. The company has a current ratio of 14.06, a quick ratio of 14.07 and a debt-to-equity ratio of 1.59. The business’s 50 day simple moving average is $7.45 and its 200-day simple moving average is $7.68. The stock has a market capitalization of $602.08 million, a price-to-earnings ratio of -41.65 and a beta of 1.01. Blackrock Tcp Capital has a twelve month low of $6.27 and a twelve month high of $9.72.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its earnings results on Thursday, August 7th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. The business had revenue of $51.47 million during the quarter, compared to analyst estimates of $56.16 million. Equities research analysts forecast that Blackrock Tcp Capital will post 1.65 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 14.1%. The ex-dividend date is Tuesday, September 16th. Blackrock Tcp Capital’s dividend payout ratio (DPR) is currently -588.24%.

Institutional Trading of Blackrock Tcp Capital

Several large investors have recently added to or reduced their stakes in the business. Caxton Associates LLP increased its position in Blackrock Tcp Capital by 16.2% in the 2nd quarter. Caxton Associates LLP now owns 60,779 shares of the investment management company’s stock valued at $468,000 after acquiring an additional 8,479 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Blackrock Tcp Capital by 4.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 86,364 shares of the investment management company’s stock valued at $664,000 after acquiring an additional 3,648 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in Blackrock Tcp Capital by 6.1% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 417,991 shares of the investment management company’s stock valued at $3,219,000 after acquiring an additional 23,875 shares during the period. Bank of America Corp DE increased its position in Blackrock Tcp Capital by 101.6% in the 2nd quarter. Bank of America Corp DE now owns 223,722 shares of the investment management company’s stock valued at $1,723,000 after acquiring an additional 112,769 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Blackrock Tcp Capital in the 2nd quarter valued at approximately $157,000.

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.