PineBridge Investments L.P. raised its stake in shares of Ticc Capital Corp. (NASDAQ:TICC) by 66.6% during the second quarter, Holdings Channel reports. The fund owned 21,517 shares of the investment management company’s stock after buying an additional 8,604 shares during the period. PineBridge Investments L.P.’s holdings in Ticc Capital Corp. were worth $113,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new stake in shares of Ticc Capital Corp. during the second quarter valued at $100,000. Wedbush Securities Inc. increased its stake 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 last quarter. Sheaff Brock Investment Advisors LLC increased its stake 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 last quarter. Shufro Rose & Co. LLC increased its stake in shares of Ticc Capital Corp. by 29.4% in the second quarter. Shufro Rose & Co. LLC now owns 22,000 shares of the investment management company’s stock valued at $116,000 after buying an additional 5,000 shares during the last quarter. Finally, Stephens Inc. AR increased its stake in shares of Ticc Capital Corp. by 16.3% in the second quarter. Stephens Inc. AR now owns 27,698 shares of the investment management company’s stock valued at $146,000 after buying an additional 3,877 shares during the last quarter. Hedge funds and other institutional investors own 35.33% of the company’s stock.
Ticc Capital Corp. (NASDAQ:TICC) opened at 5.90 on Thursday. The firm’s market cap is $303.73 million. The firm has a 50-day moving average price of $6.05 and a 200 day moving average price of $5.51. Ticc Capital Corp. has a 12-month low of $4.16 and a 12-month high of $7.02.
Ticc Capital Corp. (NASDAQ:TICC) last released 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 the consensus estimate of $16.58 million. During the same quarter last year, the business posted $0.18 EPS. The company’s revenue for the quarter was down 28.5% on a year-over-year basis. Equities research analysts forecast that Ticc Capital Corp. will post $0.47 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 19.66%. The ex-dividend date of this dividend was Wednesday, September 14th. Ticc Capital Corp.’s dividend payout ratio is currently -101.75%.
Several brokerages recently weighed in on TICC. National Securities restated a “neutral” rating and set a $6.00 target price on shares of Ticc Capital Corp. in a research note on Tuesday, August 23rd. Zacks Investment Research downgraded Ticc Capital Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th.
In related news, Director Steven P. Novak bought 5,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were acquired at an average price of $6.01 per share, with a total value of $30,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.
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).
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