Shares of THL Credit, Inc. (NASDAQ:TCRD) have been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the stock. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $11.25.
Several equities research analysts have recently issued reports on TCRD shares. Jefferies Group LLC decreased their price target on shares of THL Credit from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Monday, March 13th. National Securities reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of THL Credit in a report on Monday, March 13th. Zacks Investment Research downgraded shares of THL Credit from a “hold” rating to a “sell” rating in a report on Tuesday, March 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $10.50 price objective on shares of THL Credit in a report on Tuesday, April 11th. Finally, TheStreet downgraded shares of THL Credit from a “b-” rating to a “c” rating in a report on Monday, April 10th.
Shares of THL Credit (NASDAQ:TCRD) traded up 1.33% during mid-day trading on Tuesday, reaching $9.92. The company had a trading volume of 79,439 shares. The firm’s 50-day moving average is $9.92 and its 200 day moving average is $10.07. THL Credit has a 12 month low of $8.75 and a 12 month high of $11.84.
THL Credit (NASDAQ:TCRD) last issued its quarterly earnings results on Thursday, May 4th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. THL Credit had a net margin of 5.92% and a return on equity of 11.82%. The company had revenue of $19.80 million during the quarter, compared to analyst estimates of $20.13 million. During the same quarter last year, the business posted $0.40 EPS. THL Credit’s quarterly revenue was down 12.3% compared to the same quarter last year. On average, analysts anticipate that THL Credit will post $1.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.89%. The ex-dividend date is Tuesday, June 13th. THL Credit’s dividend payout ratio is currently 675.04%.
In related news, insider James R. Fellows acquired 12,000 shares of the company’s stock in a transaction dated Tuesday, March 14th. The stock was bought at an average cost of $9.69 per share, with a total value of $116,280.00. Following the acquisition, the insider now owns 12,000 shares of the company’s stock, valued at approximately $116,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 17,275 shares of company stock valued at $167,396 over the last ninety days. 0.88% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Ares Management LLC increased its stake in THL Credit by 213.5% in the third quarter. Ares Management LLC now owns 1,038,716 shares of the investment management company’s stock worth $9,899,000 after buying an additional 707,434 shares in the last quarter. Muzinich & Co. Inc. boosted its position in shares of THL Credit by 103.5% in the first quarter. Muzinich & Co. Inc. now owns 898,081 shares of the investment management company’s stock worth $8,945,000 after buying an additional 456,685 shares during the last quarter. Omega Advisors Inc. boosted its position in shares of THL Credit by 954.2% in the third quarter. Omega Advisors Inc. now owns 342,796 shares of the investment management company’s stock worth $3,267,000 after buying an additional 310,280 shares during the last quarter. UBS Group AG boosted its position in shares of THL Credit by 20.6% in the first quarter. UBS Group AG now owns 806,713 shares of the investment management company’s stock worth $8,035,000 after buying an additional 137,939 shares during the last quarter. Finally, PVG Asset Management Corp acquired a new position in shares of THL Credit during the third quarter worth approximately $1,208,000. 43.41% of the stock is owned by institutional investors.
About THL Credit
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of lower middle market companies.
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