Ticc Capital Corp. (NASDAQ:TICC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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 target price on shares of Ticc Capital Corp. in a research report on Tuesday, August 23rd.
Ticc Capital Corp. (NASDAQ:TICC) opened at 5.79 on Tuesday. The firm’s 50-day moving average is $6.00 and its 200 day moving average is $5.55. Ticc Capital Corp. has a 12-month low of $4.16 and a 12-month high of $7.02. The firm’s market cap is $298.06 million.
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, topping the Thomson Reuters’ 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 company had revenue of $17 million for the quarter, compared to analysts’ expectations of $16.58 million. During the same period last year, the company earned $0.18 EPS. The firm’s revenue for the quarter was down 28.5% compared to the same quarter last year. Equities research analysts predict 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. The ex-dividend date was Wednesday, September 14th. This represents a $1.16 annualized dividend and a dividend yield of 20.03%. Ticc Capital Corp.’s dividend payout ratio is presently -101.75%.
In other Ticc Capital Corp. news, Director Steven P. Novak purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were purchased at an average price of $6.01 per share, for a total transaction of $30,050.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Group LTD raised its position in Ticc Capital Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 321,769 shares of the investment management company’s stock valued at $1,696,000 after buying an additional 40,909 shares during the last quarter. PineBridge Investments L.P. raised its position in 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 last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Ticc Capital Corp. during the second quarter valued at approximately $239,000. Acrospire Investment Management LLC acquired a new position in Ticc Capital Corp. during the second quarter valued at approximately $100,000. Finally, Shufro Rose & Co. LLC raised its position in 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. Hedge funds and other institutional investors own 35.33% of the company’s stock.
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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