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

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TCPC. Wells Fargo & Company upped their price target 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. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.00.

Insider Buying and Selling

In other BlackRock TCP Capital news, President Jason Mehring purchased 4,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $9.30 per share, for a total transaction of $41,850.00. Following the transaction, the president now owns 19,914 shares in the company, valued at $185,200.20. The trade was a 29.19 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC bought a new position in BlackRock TCP Capital during the fourth quarter worth $38,000. Tower Research Capital LLC TRC lifted its stake in shares of BlackRock TCP Capital by 177.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after buying an additional 3,508 shares in the last quarter. McIlrath & Eck LLC bought a new position in shares of BlackRock TCP Capital in the third quarter valued at $46,000. Pathway Financial Advisers LLC lifted its stake in shares of BlackRock TCP Capital by 729.0% in the third quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock valued at $60,000 after buying an additional 6,379 shares in the last quarter. Finally, Transce3nd LLC bought a new position in shares of BlackRock TCP Capital in the fourth quarter valued at $70,000.

BlackRock TCP Capital Price Performance

NASDAQ:TCPC opened at $9.41 on Friday. 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. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34.

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.