BlackRock TCP Capital Corp. (NASDAQ:TCPC – Get a rating) saw significant growth in short interest during the month of June. As of June 15, there was short interest totaling 628,900 shares, a growth of 32.8% from the total of 473,400 shares as of May 31. Based on an average daily volume of 266,600 shares, the short interest ratio is currently 2.4 days.
Separately, StockNews.com began covering BlackRock TCP Capital in a research note on Thursday, March 31. They have set a “holding” rating on the stock.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Bogart Wealth LLC increased its position in BlackRock TCP Capital by 145.3% during the first quarter. Bogart Wealth LLC now owns 7,358 shares of the investment management firm worth $105,000 after purchasing an additional 4,359 shares during the period. Camden Capital LLC bought a new position in BlackRock TCP Capital during the first quarter for a value of approximately $152,000. Northern Trust Corp bought a new position in BlackRock TCP Capital during the first quarter for a value of approximately $172,000. Eagle Global Advisors LLC purchased a new position in BlackRock TCP Capital during the fourth quarter for a value of approximately $178,000. Finally, Goodwin Daniel L bought a new position in BlackRock TCP Capital during the first quarter worth approximately $179,000. Hedge funds and other institutional investors hold 24.89% of the company’s shares.
TCPC opened at $12.85 on Friday. The company has a quick ratio of 23.74, a current ratio of 23.74 and a debt ratio of 1.25. The company has a market capitalization of $742.31 million, a P/E ratio of 6.69 and a beta of 1.50. BlackRock TCP Capital has a 52-week low of $11.76 and a 52-week high of $14.52. The company’s 50-day simple moving average is $13.16 and its 200-day simple moving average is $13.57.
BlackRock TCP Capital (NASDAQ: TCPC – Get a rating) last released its quarterly earnings data on Wednesday, May 4. The investment management firm reported EPS of $0.34 for the quarter, beating consensus analyst estimates of $0.32 by $0.02. The company posted revenue of $42.15 million for the quarter, against analyst estimates of $40.55 million. BlackRock TCP Capital had a return on equity of 8.98% and a net margin of 66.68%. In the same quarter last year, the company earned earnings per share of $0.32. As a group, equity analysts expect BlackRock TCP Capital to post EPS of 1.31 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30. Investors of record on Thursday, June 16 received a dividend of $0.30 per share. The ex-dividend date was Wednesday, June 15. This represents an annualized dividend of $1.20 and a yield of 9.34%. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently 62.50%.
About BlackRock TCP Capital (Get a rating)
BlackRock TCP Capital Corp. is a business development company specializing in direct middle market equity and debt investments, debt securities, senior secured loans, junior loans, insider loans, mezzanine securities, senior debt, bonds and secondary market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, clothing, textile mills, restaurants, retail, energy, oil extraction and gas, patent owners and lessors, state and federal credit agencies, insurance, hospitals and health centers, biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific consulting and related services , air freight charter, information technology consulting, application hosting services, software layout and design, computer aided design, communication equipment, electronic manufacturing equipment, computer components, chemicals.
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