BlackRock TCP Capital Corp (NASDAQ:TCPC) saw a large drop in short interest in August. As of August 14th, there was short interest totalling 519,900 shares, a drop of 29.4% from the July 30th total of 736,300 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 325,500 shares, the short-interest ratio is presently 1.6 days.

Several hedge funds have recently modified their holdings of TCPC. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of BlackRock TCP Capital in the 1st quarter valued at about $29,000. Private Advisor Group LLC acquired a new position in shares of BlackRock TCP Capital in the 2nd quarter valued at about $36,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of BlackRock TCP Capital by 2,511.3% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 6,920 shares of the investment management company’s stock valued at $63,000 after buying an additional 6,655 shares during the period. Verus Capital Partners LLC lifted its holdings in shares of BlackRock TCP Capital by 37.2% in the 1st quarter. Verus Capital Partners LLC now owns 10,243 shares of the investment management company’s stock valued at $64,000 after buying an additional 2,777 shares during the period. Finally, IHT Wealth Management LLC acquired a new position in shares of BlackRock TCP Capital in the 1st quarter valued at about $66,000. 32.87% of the stock is owned by institutional investors and hedge funds.

Shares of TCPC opened at $9.78 on Friday. The stock has a 50-day moving average of $9.78 and a two-hundred day moving average of $9.48. BlackRock TCP Capital has a one year low of $4.02 and a one year high of $14.76. The company has a debt-to-equity ratio of 1.31, a quick ratio of 10.65 and a current ratio of 10.65. The stock has a market cap of $574.49 million, a P/E ratio of -108.67 and a beta of 1.60.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.06. BlackRock TCP Capital had a positive return on equity of 12.25% and a negative net margin of 3.15%. The company had revenue of $45.11 million during the quarter, compared to analysts’ expectations of $37.27 million. Analysts predict that BlackRock TCP Capital will post 1.37 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 12.27%. BlackRock TCP Capital’s dividend payout ratio is currently 89.44%.

Several equities analysts have weighed in on TCPC shares. JMP Securities dropped their price objective on BlackRock TCP Capital from $14.50 to $10.50 and set a “market outperform” rating on the stock in a research note on Friday, May 15th. Raymond James lowered BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 24th. Zacks Investment Research lowered BlackRock TCP Capital from a “buy” rating to a “hold” rating and set a $11.00 target price for the company. in a report on Wednesday, August 12th. TheStreet upgraded BlackRock TCP Capital from a “d+” rating to a “c-” rating in a research report on Monday, August 24th. Finally, BidaskClub downgraded BlackRock TCP Capital from a “sell” rating to a “strong sell” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus price target of $11.50.

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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