Zacks Investment Research Downgrades TICC Capital (TICC) to Hold

TICC Capital (NASDAQ:TICC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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. “

A number of other brokerages have also commented on TICC. National Securities lowered TICC Capital from a “neutral” rating to a “sell” rating and set a $5.00 target price for the company. in a research report on Monday, December 4th. ValuEngine raised TICC Capital from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, Ladenburg Thalmann Financial Services raised TICC Capital from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. TICC Capital has a consensus rating of “Hold” and a consensus target price of $5.83.

TICC Capital (TICC) traded up $0.03 during mid-day trading on Friday, hitting $5.61. The stock had a trading volume of 255,521 shares, compared to its average volume of 284,170. TICC Capital has a 1 year low of $5.17 and a 1 year high of $8.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 19.74 and a current ratio of 19.74. The company has a market cap of $287.26, a price-to-earnings ratio of 4.79, a PEG ratio of 1.83 and a beta of 0.65.

TICC Capital (NASDAQ:TICC) last posted its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). TICC Capital had a return on equity of 7.64% and a net margin of 94.98%. The business had revenue of $14.50 million during the quarter, compared to the consensus estimate of $15.97 million. During the same period last year, the business posted $0.30 earnings per share. The business’s revenue was down 19.9% on a year-over-year basis. equities analysts forecast that TICC Capital will post 0.57 earnings per share for the current year.

In other TICC Capital news, COO Saul B. Rosenthal bought 31,161 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were purchased at an average price of $5.81 per share, for a total transaction of $181,045.41. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jonathan H. Cohen bought 53,316 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average price of $5.92 per share, for a total transaction of $315,630.72. The disclosure for this purchase can be found here. Insiders bought a total of 299,792 shares of company stock worth $1,777,006 in the last 90 days. Company insiders own 5.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC World Markets Inc. boosted its stake in shares of TICC Capital by 116.9% in the 2nd quarter. CIBC World Markets Inc. now owns 23,698 shares of the investment management company’s stock worth $150,000 after buying an additional 12,771 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of TICC Capital by 15.1% in the 2nd quarter. Stephens Inc. AR now owns 25,381 shares of the investment management company’s stock worth $161,000 after buying an additional 3,321 shares during the last quarter. Aperio Group LLC boosted its stake in shares of TICC Capital by 239.8% in the 3rd quarter. Aperio Group LLC now owns 34,789 shares of the investment management company’s stock worth $238,000 after buying an additional 24,550 shares during the last quarter. Cowen Inc. purchased a new position in shares of TICC Capital in the 3rd quarter worth approximately $262,000. Finally, Virtu KCG Holdings LLC boosted its stake in shares of TICC Capital by 90.8% in the 2nd quarter. Virtu KCG Holdings LLC now owns 40,996 shares of the investment management company’s stock worth $260,000 after buying an additional 19,510 shares during the last quarter. Hedge funds and other institutional investors own 15.88% of the company’s stock.

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About TICC Capital

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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