TICC Capital Corp. (TICC) Receives Average Rating of “Hold” from Analysts

TICC Capital Corp. (NASDAQ:TICC) has been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $5.50.

Several equities research analysts recently commented on TICC shares. National Securities cut TICC Capital from a “neutral” rating to a “sell” rating and set a $5.00 target price on the stock. in a report on Monday, December 4th. ValuEngine cut TICC Capital from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Zacks Investment Research cut TICC Capital from a “buy” rating to a “hold” rating in a report on Saturday, January 20th. Ladenburg Thalmann Financial Services raised TICC Capital from a “neutral” rating to a “buy” rating in a report on Monday, November 6th. Finally, BidaskClub raised TICC Capital from a “strong sell” rating to a “sell” rating in a report on Wednesday.

TICC Capital (NASDAQ:TICC) traded down $0.05 on Friday, hitting $5.46. The stock had a trading volume of 203,740 shares, compared to its average volume of 272,452. The company has a market capitalization of $283.65, a PE ratio of 4.67, a PEG ratio of 1.81 and a beta of 0.55. The company has a debt-to-equity ratio of 0.41, a quick ratio of 19.74 and a current ratio of 19.74. TICC Capital has a 52 week low of $5.15 and a 52 week high of $8.19.

TICC Capital announced that its Board of Directors has approved a stock buyback program on Tuesday, February 6th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the investment management company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

In other news, CEO Jonathan H. Cohen bought 25,529 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average price of $6.02 per share, with a total value of $153,684.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Saul B. Rosenthal bought 31,161 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were purchased at an average cost of $5.81 per share, for a total transaction of $181,045.41. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 214,210 shares of company stock worth $1,271,803. 5.90% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Wedbush Securities Inc. grew its position in TICC Capital by 82.8% during the 4th quarter. Wedbush Securities Inc. now owns 27,600 shares of the investment management company’s stock worth $158,000 after purchasing an additional 12,500 shares in the last quarter. Aperio Group LLC grew its position in TICC Capital by 239.8% in the third quarter. Aperio Group LLC now owns 34,789 shares of the investment management company’s stock valued at $238,000 after purchasing an additional 24,550 shares in the last quarter. Cowen Inc. bought a new position in shares of TICC Capital in the 3rd quarter valued at about $262,000. Virtu KCG Holdings LLC grew its position 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 valued at $260,000 after acquiring an additional 19,510 shares during the period. Finally, Royal Bank of Canada grew its position in shares of TICC Capital by 2.1% in the 2nd quarter. Royal Bank of Canada now owns 54,705 shares of the investment management company’s stock valued at $346,000 after acquiring an additional 1,110 shares during the period. Hedge funds and other institutional investors own 15.80% 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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