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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,020,000 shares, a decline of 17.7% from the January 15th total of 1,240,000 shares. Based on an average daily volume of 579,700 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TCPC. Wells Fargo & Company boosted their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.00.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $9.41 on Monday. The stock’s fifty day moving average price is $8.94 and its two-hundred day moving average price is $8.83. The firm has a market cap of $805.40 million, a PE ratio of -18.82 and a beta of 1.50. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. BlackRock TCP Capital has a one year low of $7.71 and a one year high of $11.52.

Insiders Place Their Bets

In related news, President Jason Mehring acquired 4,500 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $9.30 per share, for a total transaction 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 approximately $185,200.20. The trade was a 29.19 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC bought a new position in BlackRock TCP Capital in the 4th quarter valued at about $38,000. McIlrath & Eck LLC acquired a new position in BlackRock TCP Capital during the third quarter valued at approximately $46,000. Tower Research Capital LLC TRC lifted its stake in BlackRock TCP Capital by 177.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after purchasing an additional 3,508 shares during the last quarter. 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 purchasing an additional 6,379 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at $70,000.

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.