TICC Capital Corp. (TICC) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. trimmed its position in TICC Capital Corp. (NASDAQ:TICC) by 85.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 324,903 shares of the investment management company’s stock after selling 1,836,733 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.63% of TICC Capital Corp. worth $2,060,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of TICC. Bank of Montreal Can bought a new stake in shares of TICC Capital Corp. in the 2nd quarter valued at about $2,390,000. UBS Group AG raised its holdings in shares of TICC Capital Corp. by 20.4% in the 1st quarter. UBS Group AG now owns 1,399,942 shares of the investment management company’s stock valued at $10,332,000 after purchasing an additional 237,193 shares during the period. Trexquant Investment LP bought a new stake in shares of TICC Capital Corp. in the 2nd quarter valued at about $183,000. First Financial Equity Corporation bought a new stake in shares of TICC Capital Corp. in the 1st quarter valued at about $200,000. Finally, Morgan Stanley raised its holdings in shares of TICC Capital Corp. by 7.9% in the 1st quarter. Morgan Stanley now owns 334,494 shares of the investment management company’s stock valued at $2,468,000 after purchasing an additional 24,554 shares during the period. 17.39% of the stock is currently owned by institutional investors.
In related news, CEO Jonathan H. Cohen acquired 5,077 shares of the stock in a transaction on Wednesday, August 30th. The shares were acquired at an average price of $6.67 per share, with a total value of $33,863.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Saul B. Rosenthal acquired 17,153 shares of the stock in a transaction on Monday, August 14th. The stock was bought at an average cost of $6.61 per share, for a total transaction of $113,381.33. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 63,371 shares of company stock worth $422,090. Insiders own 5.90% of the company’s stock.
TICC has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of TICC Capital Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub cut shares of TICC Capital Corp. from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. TheStreet raised shares of TICC Capital Corp. from a “c+” rating to a “b” rating in a report on Thursday, September 7th. Finally, National Securities reaffirmed a “sell” rating and issued a $6.00 target price on shares of TICC Capital Corp. in a report on Monday, August 14th. Four investment analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. The stock currently has an average rating of “Sell” and a consensus price target of $6.00.
TICC Capital Corp. (NASDAQ:TICC) opened at 6.72 on Friday. The firm has a 50-day moving average of $6.75 and a 200 day moving average of $6.93. TICC Capital Corp. has a 12-month low of $5.51 and a 12-month high of $8.19. The company has a market capitalization of $345.94 million, a PE ratio of 3.79 and a beta of 0.68.
TICC Capital Corp. (NASDAQ:TICC) last announced its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). The company had revenue of $17.01 million during the quarter, compared to the consensus estimate of $14.60 million. TICC Capital Corp. had a return on equity of 7.50% and a net margin of 142.50%. During the same period in the prior year, the firm posted $0.32 EPS. Analysts forecast that TICC Capital Corp. will post $0.61 EPS for the current fiscal year.
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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