TICC Capital Corp. (TICC) Posts Quarterly Earnings Results
TICC Capital Corp. (NASDAQ:TICC) released its quarterly earnings data on Thursday. The investment management company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03), Briefing.com reports. The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $15.97 million. TICC Capital Corp. had a net margin of 94.98% and a return on equity of 7.62%. The firm’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS.
TICC Capital Corp. (NASDAQ TICC) traded down $0.67 during midday trading on Friday, hitting $5.36. 446,853 shares of the stock were exchanged, compared to its average volume of 302,720. The stock has a market cap of $279.02, a P/E ratio of 9.51 and a beta of 0.66.
TICC has been the topic of several recent research reports. TheStreet upgraded shares of TICC Capital Corp. from a “c+” rating to a “b” rating in a research report on Thursday, September 7th. BidaskClub lowered shares of TICC Capital Corp. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research lowered shares of TICC Capital Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. National Securities reaffirmed a “sell” rating and set a $6.00 target price on shares of TICC Capital Corp. in a research report on Monday, August 14th. Finally, ValuEngine lowered shares of TICC Capital Corp. from a “buy” rating to a “hold” rating in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company currently has an average rating of “Sell” and an average target price of $6.00.
In other TICC Capital Corp. news, CEO Jonathan H. Cohen acquired 5,077 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were purchased at an average cost of $6.67 per share, for a total transaction of $33,863.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Saul B. Rosenthal acquired 10,021 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average price of $6.66 per share, for a total transaction of $66,739.86. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 63,371 shares of company stock worth $422,090. Insiders own 5.90% of the company’s stock.
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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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