TICC Capital Corp. (TICC) Lowered to Sell at Zacks Investment Research
Zacks Investment Research cut shares of TICC Capital Corp. (NASDAQ:TICC) from a hold rating to a sell rating in a research note published on Wednesday morning.
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. “
Several other analysts have also recently issued reports on the company. National Securities raised TICC Capital Corp. from a sell rating to a neutral rating and dropped their target price for the company from $6.00 to $5.00 in a research report on Monday. Ladenburg Thalmann Financial Services raised TICC Capital Corp. from a neutral rating to a buy rating in a research report on Monday. ValuEngine cut TICC Capital Corp. from a buy rating to a hold rating in a research report on Thursday, November 2nd. TheStreet raised TICC Capital Corp. from a c+ rating to a b rating in a research report on Thursday, September 7th. Finally, BidaskClub cut TICC Capital Corp. from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Four analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $5.50.
TICC Capital Corp. (TICC) traded up $0.16 on Wednesday, reaching $6.14. The company’s stock had a trading volume of 309,079 shares, compared to its average volume of 330,874. The stock has a market cap of $307.33, a P/E ratio of 10.47, a P/E/G ratio of 2.09 and a beta of 0.66. TICC Capital Corp. has a one year low of $5.17 and a one year high of $8.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 19.74 and a quick ratio of 19.74.
TICC Capital Corp. (NASDAQ:TICC) last announced its earnings results on Thursday, November 2nd. The investment management company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $15.97 million. TICC Capital Corp. had a net margin of 94.98% and a return on equity of 7.64%. The firm’s revenue was down 19.9% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. equities analysts anticipate that TICC Capital Corp. will post 0.57 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.20 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.03%. TICC Capital Corp.’s payout ratio is 68.38%.
In other TICC Capital Corp. news, CEO Jonathan H. Cohen acquired 53,316 shares of the stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average price of $5.92 per share, with a total value of $315,630.72. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, COO Saul B. Rosenthal acquired 26,431 shares of the stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $5.85 per share, with a total value of $154,621.35. The disclosure for this purchase can be found here. Insiders bought a total of 148,953 shares of company stock valued at $927,294 in the last three months. Insiders own 5.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in TICC Capital Corp. by 6.7% in the 2nd quarter. Van ECK Associates Corp now owns 419,844 shares of the investment management company’s stock worth $2,662,000 after acquiring an additional 26,181 shares during the last quarter. Bank of Montreal Can purchased a new position in TICC Capital Corp. in the 2nd quarter worth $2,390,000. Morgan Stanley raised its stake in TICC Capital Corp. by 7.9% in the 1st quarter. Morgan Stanley now owns 334,494 shares of the investment management company’s stock worth $2,468,000 after acquiring an additional 24,554 shares during the last quarter. Legal & General Group Plc raised its stake in TICC Capital Corp. by 14.4% in the 3rd quarter. Legal & General Group Plc now owns 146,257 shares of the investment management company’s stock worth $1,001,000 after acquiring an additional 18,430 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in TICC Capital Corp. by 0.7% in the 2nd quarter. Blair William & Co. IL now owns 130,760 shares of the investment management company’s stock worth $829,000 after acquiring an additional 900 shares during the last quarter. Institutional investors own 17.44% of the company’s stock.
About TICC Capital Corp.
TICC Capital Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its portfolio’s total return. The Company primarily focuses on seeking current income by investing primarily in corporate debt securities. The Company’s debt investments may include syndicated loans and bilateral loans.
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