Ticc Capital Corp. (TICC) Downgraded to “Sell” at Zacks Investment Research
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. “
Separately, National Securities reissued a neutral rating and issued a $6.00 price target on shares of Ticc Capital Corp. in a research note on Tuesday, August 23rd.
Shares of Ticc Capital Corp. (NASDAQ:TICC) traded up 0.17% on Tuesday, reaching $5.75. 54,865 shares of the company were exchanged. The stock’s market capitalization is $296.00 million. Ticc Capital Corp. has a 12 month low of $4.16 and a 12 month high of $7.02. The stock has a 50 day moving average price of $6.01 and a 200-day moving average price of $5.54.
Ticc Capital Corp. (NASDAQ:TICC) last issued its quarterly earnings results on Thursday, August 4th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.18. Ticc Capital Corp. had a positive return on equity of 10.05% and a negative net margin of 88.66%. The firm had revenue of $17 million for the quarter, compared to analyst estimates of $16.58 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The company’s revenue was down 28.5% compared to the same quarter last year. On average, equities analysts expect that Ticc Capital Corp. will post $0.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.16 dividend on an annualized basis and a yield of 20.21%. Ticc Capital Corp.’s dividend payout ratio (DPR) is presently -101.75%.
In other news, Director Steven P. Novak purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was bought at an average price of $6.01 per share, for a total transaction of $30,050.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TICC. BlackRock Group LTD increased its position in Ticc Capital Corp. by 6.5% in the first quarter. BlackRock Group LTD now owns 280,860 shares of the investment management company’s stock valued at $1,348,000 after buying an additional 17,178 shares during the last quarter. Sather Financial Group Inc increased its position in Ticc Capital Corp. by 15.4% in the first quarter. Sather Financial Group Inc now owns 42,700 shares of the investment management company’s stock valued at $205,000 after buying an additional 5,700 shares during the last quarter. Bank of Montreal Can purchased a new position in Ticc Capital Corp. during the second quarter valued at $1,128,000. Lucus Advisors LLC purchased a new position in Ticc Capital Corp. during the second quarter valued at $356,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Ticc Capital Corp. during the second quarter valued at $160,000. Institutional investors own 35.33% of the company’s stock.
About Ticc Capital Corp.
TICC Capital Corp. (TICC) is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its portfolio’s total return. The Company’s primary focus is to seek current income by investing primarily in corporate debt securities. Its debt investments include bilateral loans (loans where the Company holds the entirety of a particular loan) and syndicated loans (loans where multiple investors hold portions of that loan).
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