Zacks Investment Research Lowers TICC Capital Corp. (NASDAQ:TICC) to Hold
TICC Capital Corp. (NASDAQ:TICC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a 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. “
Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of TICC Capital Corp. from a “b” rating to a “c+” rating in a research note on Friday, June 2nd. Barclays PLC reissued a “sell” rating and issued a $6.00 price objective on shares of TICC Capital Corp. in a research note on Wednesday, May 24th. National Securities reissued a “sell” rating and issued a $6.00 price objective on shares of TICC Capital Corp. in a research note on Friday, May 12th. Finally, Wells Fargo & Company cut shares of TICC Capital Corp. from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 4th. Three research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. The stock has an average rating of “Sell” and an average target price of $6.75.
TICC Capital Corp. (TICC) traded down 1.32% during mid-day trading on Tuesday, reaching $6.72. 286,161 shares of the company traded hands. The firm has a market capitalization of $345.94 million, a price-to-earnings ratio of 2.86 and a beta of 0.69. TICC Capital Corp. has a 52 week low of $5.40 and a 52 week high of $8.19. The stock’s 50 day moving average price is $7.07 and its 200 day moving average price is $7.14.
TICC Capital Corp. (NASDAQ:TICC) last announced its quarterly earnings data on Monday, May 8th. The investment management company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $16.50 million for the quarter, compared to analysts’ expectations of $17.02 million. TICC Capital Corp. had a net margin of 197.98% and a return on equity of 7.55%. TICC Capital Corp.’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. Equities analysts forecast that TICC Capital Corp. will post $0.63 EPS for the current year.
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Institutional investors have recently made changes to their positions in the stock. Exane Derivatives bought a new position in TICC Capital Corp. during the first quarter worth $105,000. BlueCrest Capital Management Ltd bought a new position in TICC Capital Corp. during the first quarter worth $131,000. Koch Industries Inc. bought a new position in TICC Capital Corp. during the first quarter worth $137,000. KCG Holdings Inc. boosted its position in TICC Capital Corp. by 66.5% in the first quarter. KCG Holdings Inc. now owns 21,486 shares of the investment management company’s stock worth $159,000 after buying an additional 8,578 shares during the period. Finally, Stephens Inc. AR boosted its position in TICC Capital Corp. by 37.4% in the first quarter. Stephens Inc. AR now owns 22,060 shares of the investment management company’s stock worth $163,000 after buying an additional 6,000 shares during the period. 18.98% of the stock is currently owned by institutional investors.
About TICC Capital Corp.
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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