Ticc Capital Corp. (TICC) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “TICC Capital Corp. is a business development company primarily engaged in providing capital to technology-related companies. TICC concentrates its investments in companies having annual revenues of less than two hundred million dollar and/or a market capitalization or enterprise value of less than three hundred million dollar, with a focus on businesses. “
Separately, National Securities reissued a neutral rating and set a $6.00 price target on shares of Ticc Capital Corp. in a report on Monday, August 8th.
Ticc Capital Corp. (NASDAQ:TICC) traded up 0.17% on Tuesday, hitting $5.75. The stock had a trading volume of 54,865 shares. The company’s market capitalization is $296.00 million. Ticc Capital Corp. has a 52 week low of $4.16 and a 52 week high of $7.02. The firm has a 50-day moving average of $6.01 and a 200 day moving average of $5.54.
Ticc Capital Corp. (NASDAQ:TICC) last issued its quarterly earnings data on Thursday, August 4th. The investment management company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.18. Ticc Capital Corp. had a positive return on equity of 10.05% and a negative net margin of 88.66%. The company earned $17 million during the quarter, compared to analyst estimates of $16.58 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. Ticc Capital Corp.’s revenue was down 28.5% compared to the same quarter last year. On average, analysts predict that Ticc Capital Corp. will post $0.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 20.21%. The ex-dividend date of this dividend was Wednesday, September 14th. Ticc Capital Corp.’s dividend payout ratio is presently -101.75%.
In other Ticc Capital Corp. news, Director Steven P. Novak acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was purchased at an average price of $6.01 per share, with a total value of $30,050.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new position in Ticc Capital Corp. during the second quarter worth $100,000. IFP Advisors Inc raised its position in Ticc Capital Corp. by 9.7% in the second quarter. IFP Advisors Inc now owns 19,604 shares of the investment management company’s stock worth $103,000 after buying an additional 1,734 shares during the period. Wedbush Securities Inc. raised its position in Ticc Capital Corp. by 10.4% in the second quarter. Wedbush Securities Inc. now owns 21,260 shares of the investment management company’s stock worth $112,000 after buying an additional 2,000 shares during the period. PineBridge Investments L.P. raised its position in Ticc Capital Corp. by 66.6% in the second quarter. PineBridge Investments L.P. now owns 21,517 shares of the investment management company’s stock worth $113,000 after buying an additional 8,604 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its position in Ticc Capital Corp. by 1.2% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 21,550 shares of the investment management company’s stock worth $114,000 after buying an additional 250 shares during the period. 35.33% of the stock is owned by hedge funds and other institutional investors.
Ticc Capital Corp. Company Profile
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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