TICC Capital Corp. (TICC) Given Average Recommendation of “Hold” by Brokerages
TICC Capital Corp. (NASDAQ:TICC) has been assigned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $5.50.
A number of research firms have recently issued reports on TICC. National Securities restated a “sell” rating and issued a $6.00 price target on shares of TICC Capital in a research report on Monday, August 14th. ValuEngine upgraded TICC Capital from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research lowered TICC Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Ladenburg Thalmann Financial Services upgraded TICC Capital from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. Finally, TheStreet upgraded TICC Capital from a “c+” rating to a “b” rating in a research report on Thursday, September 7th.
TICC Capital (NASDAQ:TICC) traded up $0.12 during mid-day trading on Monday, hitting $6.31. The stock had a trading volume of 101,400 shares, compared to its average volume of 325,331. The company has a quick ratio of 19.74, a current ratio of 19.74 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $324.84, a price-to-earnings ratio of 11.07, a PEG ratio of 2.21 and a beta of 0.66. TICC Capital has a 1-year low of $5.17 and a 1-year high of $8.19.
TICC Capital (NASDAQ:TICC) last posted its quarterly earnings results on Thursday, November 2nd. The investment management company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The company had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $15.97 million. TICC Capital had a net margin of 94.98% and a return on equity of 7.64%. TICC Capital’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. equities research analysts forecast that TICC Capital will post 0.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors 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 annualized dividend and a yield of 12.68%. TICC Capital’s payout ratio is 76.19%.
In other TICC Capital news, CEO Jonathan H. Cohen acquired 5,077 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was bought at an average cost of $6.67 per share, for a total transaction of $33,863.59. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan H. Cohen acquired 7,068 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average price of $6.07 per share, with a total value of $42,902.76. The disclosure for this purchase can be found here. Insiders purchased 158,952 shares of company stock valued at $958,848 over the last quarter. 5.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP grew its position in TICC Capital by 75.5% in the third quarter. GSA Capital Partners LLP now owns 210,900 shares of the investment management company’s stock worth $1,445,000 after acquiring an additional 90,700 shares during the period. Janney Montgomery Scott LLC grew its position in TICC Capital by 24.8% in the third quarter. Janney Montgomery Scott LLC now owns 59,294 shares of the investment management company’s stock worth $406,000 after acquiring an additional 11,776 shares during the period. Cowen Inc. purchased a new position in TICC Capital in the third quarter worth approximately $262,000. Hillsdale Investment Management Inc. grew its position in TICC Capital by 14.2% in the third quarter. Hillsdale Investment Management Inc. now owns 193,200 shares of the investment management company’s stock worth $1,323,000 after acquiring an additional 24,000 shares during the period. Finally, Legal & General Group Plc grew its position in TICC Capital by 14.4% in the third 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 period. Institutional investors own 17.52% of the company’s stock.
About TICC Capital
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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