Zacks Investment Research cut shares of Ticc Capital Corp. (NASDAQ:TICC) from a hold rating to a sell rating in a report published on Tuesday morning.
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 objective on shares of Ticc Capital Corp. in a report on Tuesday, August 23rd.
Shares of Ticc Capital Corp. (NASDAQ:TICC) opened at 5.73 on Tuesday. The stock has a 50 day moving average of $5.96 and a 200 day moving average of $5.56. Ticc Capital Corp. has a 12-month low of $4.16 and a 12-month high of $7.02. The company’s market cap is $294.97 million.
Ticc Capital Corp. (NASDAQ:TICC) last announced its quarterly earnings data on Thursday, August 4th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.18. Ticc Capital Corp. had a negative net margin of 88.66% and a positive return on equity of 10.05%. The firm earned $17 million during the quarter, compared to analyst estimates of $16.58 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Ticc Capital Corp.’s quarterly revenue was down 28.5% on a year-over-year basis. Analysts forecast that Ticc Capital Corp. will post $0.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 20.24%. The ex-dividend date of this dividend was Wednesday, September 14th. Ticc Capital Corp.’s dividend payout ratio (DPR) is presently -101.75%.
In related news, Director Steven P. Novak bought 5,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was bought at an average price of $6.01 per share, with a total value of $30,050.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in TICC. Acrospire Investment Management LLC bought a new position in shares of Ticc Capital Corp. during the second quarter valued at $100,000. IFP Advisors Inc raised its position in shares of Ticc Capital Corp. by 9.7% in the second quarter. IFP Advisors Inc now owns 19,604 shares of the investment management company’s stock valued at $103,000 after buying an additional 1,734 shares during the period. Wedbush Securities Inc. raised its position in shares of Ticc Capital Corp. by 10.4% in the second quarter. Wedbush Securities Inc. now owns 21,260 shares of the investment management company’s stock valued at $112,000 after buying an additional 2,000 shares during the period. PineBridge Investments L.P. raised its position in shares of Ticc Capital Corp. by 66.6% in the second quarter. PineBridge Investments L.P. now owns 21,517 shares of the investment management company’s stock valued at $113,000 after buying an additional 8,604 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its position in shares of Ticc Capital Corp. by 1.2% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 21,550 shares of the investment management company’s stock valued at $114,000 after buying an additional 250 shares during the period. 35.26% of the stock is owned by institutional investors.
Ticc Capital Corp. Company Profile
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).