Short Interest in Blackrock Capital Investment Corp (NASDAQ:BKCC) Drops By 8.7%

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Blackrock Capital Investment Corp (NASDAQ:BKCC) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 333,300 shares, a drop of 8.7% from the July 31st total of 365,000 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily volume of 348,700 shares, the days-to-cover ratio is presently 1.0 days.

In related news, insider James Keenan purchased 50,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $5.28 per share, for a total transaction of $264,000.00. Following the completion of the purchase, the insider now directly owns 91,000 shares in the company, valued at $480,480. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Pungello purchased 6,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $5.60 per share, with a total value of $36,400.00. Following the completion of the purchase, the chief financial officer now owns 19,583 shares of the company’s stock, valued at $109,664.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 106,500 shares of company stock valued at $559,900. Corporate insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP boosted its stake in shares of Blackrock Capital Investment by 83.8% during the 2nd quarter. Susquehanna International Group LLP now owns 235,922 shares of the asset manager’s stock worth $1,423,000 after acquiring an additional 107,552 shares during the period. Green Square Asset Management LLC bought a new stake in Blackrock Capital Investment in the 2nd quarter valued at $333,000. Centaurus Financial Inc. bought a new stake in Blackrock Capital Investment in the 2nd quarter valued at $98,000. Townsquare Capital LLC boosted its stake in Blackrock Capital Investment by 76.9% in the 2nd quarter. Townsquare Capital LLC now owns 26,702 shares of the asset manager’s stock valued at $150,000 after purchasing an additional 11,610 shares during the period. Finally, Jane Street Group LLC bought a new stake in Blackrock Capital Investment in the 2nd quarter valued at $63,000. Institutional investors own 30.14% of the company’s stock.

BKCC has been the subject of several research analyst reports. ValuEngine downgraded Blackrock Capital Investment from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 5th. BidaskClub downgraded Blackrock Capital Investment from a “sell” rating to a “strong sell” rating in a research note on Friday, August 16th. Finally, Zacks Investment Research upgraded Blackrock Capital Investment from a “sell” rating to a “hold” rating in a research note on Monday, September 9th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. Blackrock Capital Investment currently has an average rating of “Sell” and an average price target of $6.25.

Shares of NASDAQ BKCC traded down $0.08 during midday trading on Friday, hitting $5.17. 134,853 shares of the company’s stock were exchanged, compared to its average volume of 315,575. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.54. Blackrock Capital Investment has a 12 month low of $5.06 and a 12 month high of $6.64. The company’s 50 day moving average price is $5.41 and its 200 day moving average price is $5.94. The firm has a market capitalization of $361.39 million, a PE ratio of 8.08, a price-to-earnings-growth ratio of 8.27 and a beta of 0.76.

Blackrock Capital Investment (NASDAQ:BKCC) last issued its earnings results on Wednesday, July 31st. The asset manager reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). Blackrock Capital Investment had a positive return on equity of 9.42% and a negative net margin of 6.24%. The business had revenue of $19.66 million for the quarter, compared to the consensus estimate of $20.45 million. On average, equities research analysts anticipate that Blackrock Capital Investment will post 0.63 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, September 13th. This represents a $0.56 annualized dividend and a dividend yield of 10.83%. Blackrock Capital Investment’s dividend payout ratio is currently 112.50%.

Blackrock Capital Investment Company Profile

BlackRock Capital Investment Corporation, formerly known as BlackRock Kelso Capital Corporation, is a Business Development Company specializing in investments in middle market companies. The fund invests in all industries. It prefers to invest between $10 million and $50 million and can invest more or less in companies with EBITDA or operating cash flow between $10 million and $50 million.

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