BlackRock TCP Capital Corp. (NASDAQ:TCPC) Sees Significant Decrease in Short Interest

BlackRock TCP Capital Corp. (NASDAQ:TCPC) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,020,000 shares, a drop 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.

Insider Transactions at BlackRock TCP Capital

In related news, President Jason Mehring acquired 4,500 shares of the stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $9.30 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Institutional Trading of BlackRock TCP Capital

Several institutional investors and hedge funds have recently bought and sold shares of TCPC. Jane Street Group LLC increased its position in shares of BlackRock TCP Capital by 189.3% during the 3rd quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock worth $302,000 after purchasing an additional 23,857 shares during the last quarter. Columbus Macro LLC bought a new position in shares of BlackRock TCP Capital in the fourth quarter valued at $4,177,000. EP Wealth Advisors LLC acquired a new position in BlackRock TCP Capital during the third quarter worth $526,000. Paloma Partners Management Co acquired a new stake in BlackRock TCP Capital in the third quarter valued at $608,000. Finally, Van ECK Associates Corp grew its position in shares of BlackRock TCP Capital by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock valued at $19,186,000 after acquiring an additional 95,603 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TCPC. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company increased their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Stock Up 1.3 %

Shares of TCPC stock opened at $9.41 on Monday. The firm’s fifty day moving average price is $8.94 and its two-hundred day moving average price is $8.83. BlackRock TCP Capital has a 1 year low of $7.71 and a 1 year high of $11.52. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $805.40 million, a P/E ratio of -18.82 and a beta of 1.50.

About BlackRock TCP Capital

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.