TICC Capital Corp. (TICC) Rating Lowered to Hold at ValuEngine
TICC Capital Corp. (NASDAQ:TICC) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
TICC has been the subject of a number of other reports. TheStreet raised TICC Capital Corp. from a “c+” rating to a “b” rating in a report on Thursday, September 7th. National Securities reissued a “sell” rating and set a $6.00 price objective on shares of TICC Capital Corp. in a report on Monday, August 14th. BidaskClub lowered TICC Capital Corp. from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research lowered TICC Capital Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company presently has an average rating of “Sell” and an average price target of $6.00.
TICC Capital Corp. (NASDAQ:TICC) last posted its quarterly earnings results on Tuesday, August 8th. The investment management company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). TICC Capital Corp. had a return on equity of 7.50% and a net margin of 142.50%. The firm had revenue of $17.01 million for the quarter, compared to analyst estimates of $14.60 million. During the same period last year, the company posted $0.32 earnings per share.
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In other TICC Capital Corp. news, insider Saul B. Rosenthal bought 7,650 shares of TICC Capital Corp. stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of $6.69 per share, with a total value of $51,178.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan H. Cohen bought 5,077 shares of TICC Capital Corp. stock in a transaction dated Wednesday, August 30th. The stock was acquired 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. Over the last ninety days, insiders bought 63,371 shares of company stock valued at $422,090. 5.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in TICC. Exane Derivatives lifted its stake in TICC Capital Corp. by 10.9% in the second quarter. Exane Derivatives now owns 15,784 shares of the investment management company’s stock valued at $100,000 after purchasing an additional 1,547 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in TICC Capital Corp. in the first quarter valued at approximately $131,000. Sheaff Brock Investment Advisors LLC lifted its stake in TICC Capital Corp. by 11.9% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 21,260 shares of the investment management company’s stock valued at $135,000 after purchasing an additional 2,260 shares during the last quarter. KCG Holdings Inc. lifted its stake 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 valued at $159,000 after purchasing an additional 8,578 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in TICC Capital Corp. in the second quarter valued at approximately $136,000. 17.38% of the stock is 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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