TICC Capital Corp. (TICC) Trading 10.6% Higher
Shares of TICC Capital Corp. (NASDAQ:TICC) traded up 10.6% during mid-day trading on Tuesday . The company traded as high as $6.03 and last traded at $5.93. 690,654 shares traded hands during trading, an increase of 118% from the average session volume of 316,772 shares. The stock had previously closed at $5.36.
A number of analysts recently issued reports on the stock. TheStreet raised shares of TICC Capital Corp. from a “c+” rating to a “b” rating in a research report on Thursday, September 7th. National Securities raised shares of TICC Capital Corp. from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $6.00 to $5.00 in a research report on Monday. ValuEngine downgraded shares of TICC Capital Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. BidaskClub downgraded shares of TICC Capital Corp. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, Ladenburg Thalmann Financial Services raised shares of TICC Capital Corp. from a “neutral” rating to a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.50.
The company has a market capitalization of $307.33, a PE ratio of 9.40, a PEG ratio of 1.74 and a beta of 0.66. 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 issued its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). TICC Capital Corp. had a net margin of 94.98% and a return on equity of 7.64%. The firm had revenue of $14.50 million during the quarter, compared to analyst estimates of $15.97 million. During the same period last year, the business earned $0.30 EPS. The firm’s revenue was down 19.9% compared to the same quarter last year. research analysts anticipate that TICC Capital Corp. will post 0.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 13.40%. The ex-dividend date of this dividend is Thursday, December 14th. TICC Capital Corp.’s dividend payout ratio (DPR) is 48.48%.
In other news, 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 price of $6.61 per share, with a total value of $113,381.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan H. Cohen acquired 5,077 shares of the stock in a transaction on Wednesday, August 30th. The stock was purchased at an average cost of $6.67 per share, with a total value of $33,863.59. The disclosure for this purchase can be found here. Insiders acquired 63,371 shares of company stock valued at $422,090 in the last ninety days. 5.90% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp grew its position in TICC Capital Corp. by 6.7% in the second quarter. Van ECK Associates Corp now owns 419,844 shares of the investment management company’s stock valued at $2,662,000 after acquiring an additional 26,181 shares in the last quarter. Bank of Montreal Can acquired a new stake in TICC Capital Corp. in the second quarter valued at approximately $2,390,000. Morgan Stanley grew its position in TICC Capital Corp. by 7.9% in the first quarter. Morgan Stanley now owns 334,494 shares of the investment management company’s stock valued at $2,468,000 after acquiring an additional 24,554 shares in the last quarter. Blair William & Co. IL grew its position in TICC Capital Corp. by 0.7% in the second quarter. Blair William & Co. IL now owns 130,760 shares of the investment management company’s stock valued at $829,000 after acquiring an additional 900 shares in the last quarter. Finally, Legal & General Group Plc grew its position in TICC Capital Corp. by 6.4% in the second quarter. Legal & General Group Plc now owns 127,827 shares of the investment management company’s stock valued at $811,000 after acquiring an additional 7,699 shares in the last quarter. 17.44% of the stock is owned by institutional investors.
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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