TICC Capital (TICC) Upgraded by Zacks Investment Research to “Hold”

TICC Capital (NASDAQ:TICC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, January 10th. The brokerage currently has a $6.50 target price on the investment management company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.70% from the company’s previous close.

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. “

TICC has been the topic of several other reports. ValuEngine lowered TICC Capital from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. National Securities lowered TICC Capital from a “neutral” rating to a “sell” rating and set a $5.00 target price on the stock. in a report on Monday, December 4th. Finally, Ladenburg Thalmann Financial Services upgraded TICC Capital from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $5.83.

TICC Capital (NASDAQ TICC) traded down $0.09 during midday trading on Wednesday, reaching $5.57. The company’s stock had a trading volume of 312,500 shares, compared to its average volume of 288,710. TICC Capital has a 12-month low of $5.17 and a 12-month high of $8.19. The company has a market cap of $282.29, a PE ratio of 5.30, a price-to-earnings-growth ratio of 1.86 and a beta of 0.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 19.74 and a quick ratio of 19.74.

TICC Capital (NASDAQ:TICC) last posted its quarterly earnings results on Thursday, November 2nd. The investment management company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). TICC Capital 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 quarter last year, the company posted $0.30 EPS. The firm’s revenue was down 19.9% on a year-over-year basis. sell-side analysts forecast that TICC Capital will post 0.57 earnings per share for the current fiscal year.

In related news, CEO Jonathan H. Cohen acquired 22,737 shares of the stock in a transaction dated Tuesday, December 12th. The stock was bought at an average cost of $6.08 per share, for a total transaction of $138,240.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Saul B. Rosenthal acquired 31,161 shares of the stock in a transaction dated Monday, December 18th. The shares were bought at an average price of $5.81 per share, with a total value of $181,045.41. The disclosure for this purchase can be found here. Insiders acquired 299,792 shares of company stock valued at $1,777,006 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TICC. Sheaff Brock Investment Advisors LLC grew its stake in TICC Capital by 11.9% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 21,260 shares of the investment management company’s stock worth $135,000 after purchasing an additional 2,260 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in TICC Capital in the second quarter valued at approximately $136,000. CIBC World Markets Inc. grew its stake in TICC Capital by 116.9% in the second quarter. CIBC World Markets Inc. now owns 23,698 shares of the investment management company’s stock valued at $150,000 after acquiring an additional 12,771 shares during the period. Stephens Inc. AR grew its stake in TICC Capital by 15.1% in the second quarter. Stephens Inc. AR now owns 25,381 shares of the investment management company’s stock valued at $161,000 after acquiring an additional 3,321 shares during the period. Finally, Aperio Group LLC grew its stake in TICC Capital by 239.8% in the third quarter. Aperio Group LLC now owns 34,789 shares of the investment management company’s stock valued at $238,000 after acquiring an additional 24,550 shares during the period. 15.88% of the stock is owned by institutional investors and hedge funds.

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TICC Capital Company Profile

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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