Ticc Capital Corp. (TICC) Shares Up 3.6%
Ticc Capital Corp. (NASDAQ:TICC) shot up 3.6% during trading on Tuesday . The stock traded as high as $6.10 and last traded at $6.05, with a volume of 323,629 shares changing hands. The stock had previously closed at $5.84.
Several brokerages recently commented on TICC. Barclays PLC cut Ticc Capital Corp. from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $5.00 to $4.00 in a research note on Wednesday, May 4th. National Securities restated a “neutral” rating and issued a $6.00 target price on shares of Ticc Capital Corp. in a report on Monday. Finally, Zacks Investment Research upgraded Ticc Capital Corp. from a “sell” rating to a “hold” rating in a report on Thursday, May 12th.
The company’s market capitalization is $315.57 million. The firm has a 50 day moving average of $5.50 and a 200-day moving average of $5.21.
Ticc Capital Corp. (NASDAQ:TICC) last released its quarterly earnings results on Thursday, August 4th. The investment management company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.18. During the same period in the prior year, the business earned $0.18 EPS. The business had revenue of $17 million for the quarter, compared to analyst estimates of $16.58 million. The company’s revenue for the quarter was down 28.5% compared to the same quarter last year. Equities research analysts predict that Ticc Capital Corp. will post $0.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 18.92%.
In related news, COO Saul B. Rosenthal purchased 23,880 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was purchased at an average cost of $5.39 per share, for a total transaction of $128,713.20. Following the completion of the purchase, the chief operating officer now directly owns 338,115 shares in the company, valued at $1,822,439.85. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles M. Royce purchased 25,020 shares of the firm’s stock in a transaction on Thursday, May 12th. The stock was bought at an average price of $5.21 per share, with a total value of $130,354.20. Following the completion of the purchase, the director now owns 145,041 shares of the company’s stock, valued at $755,663.61. The disclosure for this purchase can be found here.
TICC Capital Corp. (TICC) is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its portfolio’s total return. The Company’s primary focus is to seek current income by investing primarily in corporate debt securities. Its debt investments include bilateral loans (loans where the Company holds the entirety of a particular loan) and syndicated loans (loans where multiple investors hold portions of that loan).
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