BlackRock TCP Capital Corp (NASDAQ:TCPC) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 278,700 shares, a decrease of 17.9% from the May 30th total of 339,500 shares. Based on an average trading volume of 190,600 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.5% of the company’s stock are sold short.
Several hedge funds have recently bought and sold shares of the stock. Dubuque Bank & Trust Co. lifted its stake in BlackRock TCP Capital by 5.0% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 137,808 shares of the investment management company’s stock worth $1,964,000 after acquiring an additional 6,515 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in BlackRock TCP Capital by 3.5% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 264,918 shares of the investment management company’s stock worth $3,757,000 after acquiring an additional 8,958 shares in the last quarter. Alphasimplex Group LLC purchased a new stake in BlackRock TCP Capital in the 1st quarter worth about $1,220,000. Vaughan Nelson Investment Management L.P. lifted its stake in BlackRock TCP Capital by 3.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,056,953 shares of the investment management company’s stock worth $14,988,000 after acquiring an additional 36,175 shares in the last quarter. Finally, Advisor Group Inc. lifted its stake in BlackRock TCP Capital by 20.6% in the 1st quarter. Advisor Group Inc. now owns 65,418 shares of the investment management company’s stock worth $929,000 after acquiring an additional 11,194 shares in the last quarter. 42.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of TCPC stock traded up $0.06 on Friday, hitting $14.28. 148,875 shares of the stock traded hands, compared to its average volume of 226,593. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.97. The company has a market cap of $839.18 million, a P/E ratio of 8.98, a PEG ratio of 2.95 and a beta of 0.71. BlackRock TCP Capital has a 1-year low of $12.52 and a 1-year high of $14.98. The stock’s fifty day moving average is $14.39.
BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, May 8th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $47.54 million for the quarter, compared to analyst estimates of $47.36 million. BlackRock TCP Capital had a return on equity of 11.27% and a net margin of 21.88%. On average, analysts predict that BlackRock TCP Capital will post 1.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 10.08%. The ex-dividend date of this dividend was Thursday, June 13th. BlackRock TCP Capital’s dividend payout ratio is currently 90.57%.
A number of equities analysts have issued reports on the company. National Securities reaffirmed a “sell” rating and issued a $4.00 target price on shares of Prospect Capital in a research report on Monday, May 13th. Zacks Investment Research lowered Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday. Finally, TheStreet raised BlackRock TCP Capital from a “c+” rating to a “b” rating in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. BlackRock TCP Capital presently has an average rating of “Hold” and a consensus target price of $16.50.
BlackRock TCP Capital Company Profile
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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