DnB Asset Management AS Sells 8,900 Shares of TICC Capital Corp. (TICC)
DnB Asset Management AS cut its position in shares of TICC Capital Corp. (NASDAQ:TICC) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,647 shares of the investment management company’s stock after selling 8,900 shares during the period. DnB Asset Management AS owned about 0.26% of TICC Capital Corp. worth $841,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Exane Derivatives acquired a new position in TICC Capital Corp. during the first quarter worth $105,000. BlueCrest Capital Management Ltd acquired a new position in TICC Capital Corp. during the first quarter worth $131,000. Koch Industries Inc. acquired a new position in TICC Capital Corp. during the first quarter worth $137,000. KCG Holdings Inc. raised its position in TICC Capital Corp. by 66.5% in the first quarter. KCG Holdings Inc. now owns 21,486 shares of the investment management company’s stock worth $159,000 after buying an additional 8,578 shares in the last quarter. Finally, Stephens Inc. AR raised its position in TICC Capital Corp. by 37.4% in the first quarter. Stephens Inc. AR now owns 22,060 shares of the investment management company’s stock worth $163,000 after buying an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 18.98% of the company’s stock.
TICC Capital Corp. (NASDAQ TICC) opened at 6.90 on Friday. The stock’s 50 day moving average is $7.07 and its 200-day moving average is $7.14. The stock has a market capitalization of $355.21 million, a price-to-earnings ratio of 2.94 and a beta of 0.68. TICC Capital Corp. has a 52-week low of $5.40 and a 52-week high of $8.19.
TICC Capital Corp. (NASDAQ:TICC) last released its quarterly earnings results on Monday, May 8th. The investment management company reported $0.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. TICC Capital Corp. had a net margin of 197.98% and a return on equity of 7.55%. The business had revenue of $16.50 million for the quarter, compared to the consensus estimate of $17.02 million. During the same period last year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that TICC Capital Corp. will post $0.63 EPS for the current fiscal year.
A number of research analysts recently weighed in on the stock. TheStreet lowered shares of TICC Capital Corp. from a “b” rating to a “c+” rating in a research note on Friday, June 2nd. Wells Fargo & Company lowered shares of TICC Capital Corp. from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 4th. Zacks Investment Research upgraded shares of TICC Capital Corp. from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research report on Friday, April 7th. Barclays PLC restated a “sell” rating and set a $6.00 price target on shares of TICC Capital Corp. in a research report on Wednesday, May 24th. Finally, National Securities restated a “sell” rating and set a $6.00 price target on shares of TICC Capital Corp. in a research report on Friday, April 7th. Three investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. The company presently has an average rating of “Sell” and a consensus target price of $6.75.
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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