TICC Capital Corp. (TICC) Downgraded to “Hold” at ValuEngine
ValuEngine cut shares of TICC Capital Corp. (NASDAQ:TICC) from a buy rating to a hold rating in a report published on Thursday morning.
Other analysts have also issued reports about the stock. National Securities reaffirmed a sell rating and issued a $6.00 price objective on shares of TICC Capital Corp. in a research note on Monday, August 14th. Zacks Investment Research lowered shares of TICC Capital Corp. from a buy rating to a hold rating in a research report on Tuesday, July 11th. BidaskClub lowered shares of TICC Capital Corp. from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Finally, TheStreet raised shares of TICC Capital Corp. from a c+ rating to a b rating in a research report on Thursday, September 7th. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock currently has an average rating of Sell and an average price target of $6.00.
TICC Capital Corp. (NASDAQ TICC) traded down $0.67 during mid-day trading on Thursday, hitting $5.36. 504,775 shares of the company’s stock traded hands, compared to its average volume of 302,720. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $279.02, a PE ratio of 9.51, a price-to-earnings-growth ratio of 1.76 and a beta of 0.66.
TICC Capital Corp. (NASDAQ:TICC) last released its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). TICC Capital Corp. had a return on equity of 7.62% and a net margin of 94.98%. The business had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $15.97 million. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was down 19.9% compared to the same quarter last year. sell-side analysts forecast that TICC Capital Corp. will post 0.62 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 14.93%. The ex-dividend date of this dividend is Thursday, December 14th. TICC Capital Corp.’s payout ratio is 68.38%.
In other news, CEO Jonathan H. Cohen purchased 5,077 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was acquired at an average cost of $6.67 per share, with a total value of $33,863.59. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Saul B. Rosenthal purchased 10,021 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average cost of $6.66 per share, with a total value of $66,739.86. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 63,371 shares of company stock valued at $422,090. Insiders own 5.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TICC. Exane Derivatives lifted its position in shares of TICC Capital Corp. by 10.9% during the second quarter. Exane Derivatives now owns 15,784 shares of the investment management company’s stock valued at $100,000 after buying an additional 1,547 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of TICC Capital Corp. during the first quarter valued at about $131,000. Sheaff Brock Investment Advisors LLC increased its holdings in shares of TICC Capital Corp. by 11.9% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 21,260 shares of the investment management company’s stock valued at $135,000 after acquiring an additional 2,260 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of TICC Capital Corp. during the second quarter valued at about $136,000. Finally, CIBC World Markets Inc. increased its holdings in shares of TICC Capital Corp. by 116.9% during the second quarter. CIBC World Markets Inc. now owns 23,698 shares of the investment management company’s stock valued at $150,000 after acquiring an additional 12,771 shares in the last quarter. 17.38% of the stock is owned by institutional investors and hedge funds.
TICC Capital Corp. Company Profile
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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