TICC Capital Corp. (TICC) Upgraded to Buy at Ladenburg Thalmann Financial Services
TICC has been the subject of a number of other research reports. TheStreet upgraded shares of TICC Capital Corp. from a c+ rating to a b rating in a report on Thursday, September 7th. ValuEngine downgraded shares of TICC Capital Corp. from a buy rating to a hold rating in a report on Thursday, November 2nd. National Securities restated a sell rating and set a $6.00 price target on shares of TICC Capital Corp. in a report on Monday, August 14th. BidaskClub downgraded shares of TICC Capital Corp. from a sell rating to a strong sell rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded shares of TICC Capital Corp. from a buy rating to a hold rating in a report on Tuesday, July 11th. 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 company. The stock has an average rating of Hold and a consensus price target of $5.50.
TICC Capital Corp. (NASDAQ TICC) traded up $0.04 during mid-day trading on Monday, reaching $5.97. 409,593 shares of the company’s stock were exchanged, compared to its average volume of 316,772. The firm has a market cap of $309.13, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 1.74 and a beta of 0.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 19.74 and a current ratio of 19.74. TICC Capital Corp. has a 12 month low of $5.17 and a 12 month high of $8.19.
TICC Capital Corp. (NASDAQ:TICC) last released its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). The business had revenue of $14.50 million during the quarter, compared to analyst estimates of $15.97 million. TICC Capital Corp. had a net margin of 94.98% and a return on equity of 7.64%. The firm’s revenue was down 19.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. analysts anticipate that TICC Capital Corp. will post 0.62 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.40%. TICC Capital Corp.’s dividend payout ratio is currently 48.48%.
In related news, insider Saul B. Rosenthal bought 10,021 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average price of $6.66 per share, for a total transaction of $66,739.86. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan H. Cohen bought 5,077 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was bought at an average price of $6.67 per share, with a total value of $33,863.59. The disclosure for this purchase can be found here. Insiders have bought a total of 63,371 shares of company stock valued at $422,090 in the last 90 days. Insiders own 5.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of TICC. Legal & General Group Plc increased its holdings in TICC Capital Corp. by 4.5% in the 1st quarter. Legal & General Group Plc now owns 120,128 shares of the investment management company’s stock valued at $886,000 after purchasing an additional 5,210 shares during the last quarter. Morgan Stanley increased its holdings in 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 last quarter. KCG Holdings Inc. increased its holdings in TICC Capital Corp. by 66.5% in the 1st quarter. KCG Holdings Inc. now owns 21,486 shares of the investment management company’s stock valued at $159,000 after purchasing an additional 8,578 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in TICC Capital Corp. by 8.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 33,287 shares of the investment management company’s stock valued at $246,000 after purchasing an additional 2,689 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in TICC Capital Corp. in the 2nd quarter valued at approximately $2,390,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.
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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