Ladenburg Thalmann Financial Services upgraded shares of TICC Capital Corp. (NASDAQ:TICC) from a neutral rating to a buy rating in a research note issued to investors on Monday, November 6th, MarketBeat reports.
Several other equities research analysts have also weighed in on TICC. ValuEngine lowered shares of TICC Capital Corp. from a buy rating to a hold rating in a report on Thursday, November 2nd. National Securities reiterated a sell rating and set a $6.00 price target on shares of TICC Capital Corp. in a research report on Monday, August 14th. TheStreet upgraded shares of TICC Capital Corp. from a c+ rating to a b rating in a research report on Thursday, September 7th. BidaskClub downgraded shares of TICC Capital Corp. from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded shares of TICC Capital Corp. from a buy rating to a hold rating in a research report on Tuesday, July 11th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $5.50.
TICC Capital Corp. (NASDAQ:TICC) opened at $6.05 on Monday. The stock has a market cap of $306.82, a price-to-earnings ratio of 10.46, a P/E/G ratio of 2.09 and a beta of 0.66. 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 Corp. has a 52-week low of $5.17 and a 52-week high of $8.19.
TICC Capital Corp. (NASDAQ:TICC) last announced its quarterly earnings results on Thursday, November 2nd. The investment management company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). TICC Capital Corp. had a net margin of 94.98% and a return on equity of 7.64%. 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 firm earned $0.30 EPS. The company’s quarterly revenue was down 19.9% compared to the same quarter last year. analysts expect that TICC Capital Corp. will post 0.57 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.22%. TICC Capital Corp.’s dividend payout ratio is 68.38%.
In other news, CEO Jonathan H. Cohen purchased 5,077 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average cost of $6.67 per share, for a total transaction of $33,863.59. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Saul B. Rosenthal bought 26,431 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average cost of $5.85 per share, with a total value of $154,621.35. The disclosure for this purchase can be found here. Insiders purchased a total of 131,800 shares of company stock worth $813,913 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TICC. Exane Derivatives grew its stake in shares of TICC Capital Corp. by 10.9% during the 2nd quarter. Exane Derivatives now owns 15,784 shares of the investment management company’s stock worth $100,000 after acquiring an additional 1,547 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of TICC Capital Corp. by 11.9% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 21,260 shares of the investment management company’s stock worth $135,000 after acquiring an additional 2,260 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of TICC Capital Corp. during the 2nd quarter worth approximately $136,000. CIBC World Markets Inc. grew its stake in shares of TICC Capital Corp. by 116.9% during the 2nd quarter. CIBC World Markets Inc. now owns 23,698 shares of the investment management company’s stock worth $150,000 after acquiring an additional 12,771 shares in the last quarter. Finally, KCG Holdings Inc. grew its stake in shares of TICC Capital Corp. by 66.5% during the 1st quarter. KCG Holdings Inc. now owns 21,486 shares of the investment management company’s stock worth $159,000 after acquiring an additional 8,578 shares in the last quarter. 17.26% of the stock is owned by institutional investors and hedge funds.
About TICC Capital Corp.
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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