BlackRock TCP Capital Corp. (NASDAQ:TCPC) Short Interest Down 17.7% in January

BlackRock TCP Capital Corp. (NASDAQ:TCPC) was the recipient of a significant drop in short interest in 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 short-interest ratio is currently 1.8 days.

Insider Transactions at BlackRock TCP Capital

In other news, President Jason Mehring acquired 4,500 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was bought 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 owns 19,914 shares of the company’s stock, valued at $185,200.20. The trade was a 29.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of BlackRock TCP Capital

Hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC bought a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at $38,000. Tower Research Capital LLC TRC boosted its stake in BlackRock TCP Capital by 177.2% in the 4th 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 in the last quarter. McIlrath & Eck LLC bought a new position in BlackRock TCP Capital in the 3rd quarter worth about $46,000. Pathway Financial Advisers LLC boosted its stake in 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 worth $60,000 after purchasing an additional 6,379 shares in the last quarter. Finally, Transce3nd LLC bought a new position in BlackRock TCP Capital in the 4th quarter worth about $70,000.

Analysts Set New Price Targets

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

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC opened at $9.41 on Friday. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a 52 week low of $7.71 and a 52 week high of $11.52. The firm’s fifty day moving average is $8.94 and its 200 day moving average is $8.85.

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.