TICC Capital Corp. (TICC) Upgraded at TheStreet

TheStreet upgraded shares of TICC Capital Corp. (NASDAQ:TICC) from a c+ rating to a b rating in a research note published on Thursday morning.

TICC has been the subject of several other reports. BidaskClub lowered shares of TICC Capital Corp. from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. Barclays PLC reissued a sell rating and set a $6.00 target price on shares of TICC Capital Corp. in a research note on Wednesday, May 24th. National Securities reissued a sell rating and set a $6.00 target price on shares of TICC Capital Corp. in a research note on Friday, May 12th. Finally, Zacks Investment Research lowered shares of TICC Capital Corp. from a buy rating to a hold rating in a research note on Tuesday, July 11th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company. The stock presently has a consensus rating of Sell and a consensus target price of $6.75.

Shares of TICC Capital Corp. (NASDAQ:TICC) traded down 0.29% during trading on Thursday, hitting $6.89. The company’s stock had a trading volume of 239,057 shares. The company has a market cap of $354.69 million, a PE ratio of 3.89 and a beta of 0.67. The firm’s 50 day moving average price is $6.67 and its 200-day moving average price is $7.04. TICC Capital Corp. has a 52 week low of $5.51 and a 52 week high of $8.19.

TICC Capital Corp. (NASDAQ:TICC) last issued its quarterly earnings results on Tuesday, August 8th. The investment management company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $17.01 million during the quarter, compared to analyst estimates of $14.60 million. TICC Capital Corp. had a return on equity of 7.50% and a net margin of 142.50%. During the same period in the prior year, the company posted $0.32 earnings per share. On average, analysts predict that TICC Capital Corp. will post $0.62 earnings per share for the current year.

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In other news, insider Saul B. Rosenthal purchased 10,021 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average price of $6.66 per share, for a total transaction of $66,739.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan H. Cohen purchased 5,077 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were purchased at an average price of $6.67 per share, for a total transaction of $33,863.59. The disclosure for this purchase can be found here. Insiders have bought 63,371 shares of company stock worth $422,090 in the last 90 days. 5.90% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL increased its stake in TICC Capital Corp. by 0.7% in the 2nd quarter. Blair William & Co. IL now owns 130,760 shares of the investment management company’s stock valued at $829,000 after buying an additional 900 shares during the period. Royal Bank of Canada increased its stake in TICC Capital Corp. by 2.1% in the 2nd quarter. Royal Bank of Canada now owns 54,705 shares of the investment management company’s stock valued at $346,000 after buying an additional 1,110 shares during the period. Exane Derivatives increased its stake in TICC Capital Corp. by 10.9% in the 2nd quarter. Exane Derivatives now owns 15,784 shares of the investment management company’s stock valued at $100,000 after buying an additional 1,547 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in TICC Capital Corp. by 11.9% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 21,260 shares of the investment management company’s stock valued at $135,000 after buying an additional 2,260 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in TICC Capital Corp. by 8.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 33,287 shares of the investment management company’s stock valued at $246,000 after buying an additional 2,689 shares during the period. Institutional investors and hedge funds own 17.45% of the company’s stock.

TICC Capital Corp. 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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