Ticc Capital Corp. (TICC) Downgraded 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 report released 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 report on Monday, August 8th.
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Shares of Ticc Capital Corp. (NASDAQ:TICC) traded down 0.52% on Tuesday, reaching $5.75. 46,061 shares of the company’s 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 stock has a 50-day moving average of $6.02 and a 200 day moving average of $5.54.
Ticc Capital Corp. (NASDAQ:TICC) last released its quarterly earnings results on Thursday, August 4th. The investment management company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.18. The business earned $17 million during the quarter, compared to analysts’ expectations of $16.58 million. Ticc Capital Corp. had a positive return on equity of 10.05% and a negative net margin of 88.66%. The company’s revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. On average, equities research analysts expect that Ticc Capital Corp. will post $0.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders 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 is currently -101.75%.
In related news, Director Steven P. Novak purchased 5,000 shares of Ticc Capital Corp. stock in a transaction on Tuesday, August 9th. The shares were bought at an average price of $6.01 per share, with a total value of $30,050.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Group LTD raised its stake in Ticc Capital Corp. by 6.5% in the first quarter. BlackRock Group LTD now owns 280,860 shares of the investment management company’s stock worth $1,348,000 after buying an additional 17,178 shares in the last quarter. Sather Financial Group Inc raised its stake in Ticc Capital Corp. by 15.4% in the first quarter. Sather Financial Group Inc now owns 42,700 shares of the investment management company’s stock worth $205,000 after buying an additional 5,700 shares in the last quarter. Bank of Montreal Can bought a new stake in Ticc Capital Corp. during the second quarter worth about $1,128,000. Lucus Advisors LLC bought a new stake in Ticc Capital Corp. during the second quarter worth about $356,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Ticc Capital Corp. during the second quarter worth about $160,000. 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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