Ticc Capital Corp. (TICC) Cut to “Sell” at Zacks Investment Research
Ticc Capital Corp. (NASDAQ:TICC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “TICC Capital Corp. is a business development company primarily engaged in providing capital to technology-related companies. TICC concentrates its investments in companies having annual revenues of less than two hundred million dollar and/or a market capitalization or enterprise value of less than three hundred million dollar, with a focus on businesses. “
Separately, National Securities restated a “neutral” rating and set a $6.00 target price on shares of Ticc Capital Corp. in a research report on Monday, August 8th.
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Ticc Capital Corp. (NASDAQ:TICC) traded down 0.52% during trading on Tuesday, hitting $5.75. 46,061 shares of the stock traded hands. The firm’s market cap is $296.00 million. Ticc Capital Corp. has a 12 month low of $4.16 and a 12 month high of $7.02. The firm has a 50-day moving average price of $6.02 and a 200 day moving average price of $5.54.
Ticc Capital Corp. (NASDAQ:TICC) last announced its earnings results on Thursday, August 4th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.18. The firm had revenue of $17 million for the quarter, compared to analysts’ expectations of $16.58 million. Ticc Capital Corp. had a negative net margin of 88.66% and a positive return on equity of 10.05%. The business’s revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. On average, equities analysts forecast that Ticc Capital Corp. will post $0.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 20.07%. The ex-dividend date was Wednesday, September 14th. Ticc Capital Corp.’s dividend payout ratio (DPR) is currently -101.75%.
In other news, Director Steven P. Novak acquired 5,000 shares of Ticc Capital Corp. stock in a transaction that occurred on Tuesday, August 9th. The shares were bought at an average cost of $6.01 per share, with a total value of $30,050.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC purchased a new stake in Ticc Capital Corp. during the second quarter worth $100,000. IFP Advisors Inc raised its stake in Ticc Capital Corp. by 9.7% in the second quarter. IFP Advisors Inc now owns 19,604 shares of the investment management company’s stock worth $103,000 after buying an additional 1,734 shares during the period. Wedbush Securities Inc. raised its stake in Ticc Capital Corp. by 10.4% in the second quarter. Wedbush Securities Inc. now owns 21,260 shares of the investment management company’s stock worth $112,000 after buying an additional 2,000 shares during the period. PineBridge Investments L.P. raised its stake in Ticc Capital Corp. by 66.6% in the second quarter. PineBridge Investments L.P. now owns 21,517 shares of the investment management company’s stock worth $113,000 after buying an additional 8,604 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its stake in Ticc Capital Corp. by 1.2% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 21,550 shares of the investment management company’s stock worth $114,000 after buying an additional 250 shares during the period. 35.33% of the stock is currently owned by institutional investors.
About Ticc Capital Corp.
TICC Capital Corp. (TICC) is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its portfolio’s total return. The Company’s primary focus is to seek current income by investing primarily in corporate debt securities. Its debt investments include bilateral loans (loans where the Company holds the entirety of a particular loan) and syndicated loans (loans where multiple investors hold portions of that loan).
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