TICC Capital (NASDAQ:TICC) declared that its board has initiated a stock buyback plan, which permits the company to repurchase $25.00 million in shares on Tuesday, February 6th, EventVestor reports. This repurchase authorization permits the investment management company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
TICC Capital (NASDAQ:TICC) traded up $0.05 during trading hours on Wednesday, reaching $5.48. 64,040 shares of the company’s stock were exchanged, compared to its average volume of 282,842. The firm has a market cap of $271.30, a P/E ratio of 4.64, a PEG ratio of 1.73 and a beta of 0.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 19.74 and a quick ratio of 19.74. TICC Capital has a twelve month low of $5.15 and a twelve month high of $8.19.
Several research firms have recently issued reports on TICC. BidaskClub raised TICC Capital from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research raised TICC Capital from a “sell” rating to a “hold” rating and set a $6.50 price objective for the company in a research note on Wednesday, January 10th. National Securities raised TICC Capital from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $6.00 to $5.00 in a research note on Monday, November 6th. ValuEngine downgraded TICC Capital from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Ladenburg Thalmann Financial Services raised TICC Capital from a “neutral” rating to a “buy” rating in a research note on Monday, November 6th. Four equities research 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. The company presently has a consensus rating of “Hold” and a consensus target price of $5.83.
TICC Capital 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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