BlackRock TCP Capital Corp (NASDAQ:TCPC) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 221,200 shares, a decrease of 16.0% from the June 30th total of 263,300 shares. Based on an average trading volume of 231,500 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.4% of the company’s shares are short sold.
A number of equities analysts recently commented on the company. Oppenheimer set a $16.00 target price on BlackRock TCP Capital and gave the company a “buy” rating in a report on Friday, August 9th. Zacks Investment Research downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Tuesday. TheStreet upgraded BlackRock TCP Capital from a “c+” rating to a “b” rating in a report on Tuesday, May 28th. ValuEngine downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report 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 report on Monday, May 13th. Three analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.30.
A number of hedge funds have recently modified their holdings of the stock. Cetera Advisor Networks LLC grew its stake in BlackRock TCP Capital by 2.9% in the first quarter. Cetera Advisor Networks LLC now owns 25,942 shares of the investment management company’s stock worth $367,000 after purchasing an additional 720 shares during the period. Sandy Spring Bank purchased a new stake in shares of BlackRock TCP Capital in the second quarter worth $29,000. Truvestments Capital LLC purchased a new stake in shares of BlackRock TCP Capital in the second quarter worth $33,000. CFO4Life Group LLC grew its stake in shares of BlackRock TCP Capital by 20.1% in the first quarter. CFO4Life Group LLC now owns 14,049 shares of the investment management company’s stock worth $199,000 after acquiring an additional 2,356 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware grew its stake in shares of BlackRock TCP Capital by 1.3% in the first quarter. Mckinley Capital Management LLC Delaware now owns 193,677 shares of the investment management company’s stock worth $2,746,000 after acquiring an additional 2,459 shares during the last quarter. 41.93% of the stock is currently owned by institutional investors.
BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Thursday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 return on equity of 11.32% and a net margin of 14.19%. Equities research analysts expect that BlackRock TCP Capital will post 1.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.44 annualized dividend and a yield of 10.81%. BlackRock TCP Capital’s payout ratio is 90.57%.
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.
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