PVG Asset Management Corp Decreases Holdings in THL Credit, Inc. (TCRD)

PVG Asset Management Corp trimmed its stake in THL Credit, Inc. (NASDAQ:TCRD) by 13.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,534 shares of the investment management company’s stock after selling 16,366 shares during the period. PVG Asset Management Corp’s holdings in THL Credit were worth $1,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Confluence Investment Management LLC raised its position in shares of THL Credit by 2.6% in the 2nd quarter. Confluence Investment Management LLC now owns 1,076,343 shares of the investment management company’s stock worth $10,710,000 after acquiring an additional 27,108 shares in the last quarter. UBS Group AG raised its position in shares of THL Credit by 20.6% in the 1st quarter. UBS Group AG now owns 806,713 shares of the investment management company’s stock worth $8,035,000 after acquiring an additional 137,939 shares in the last quarter. Van ECK Associates Corp raised its position in shares of THL Credit by 12.6% in the 2nd quarter. Van ECK Associates Corp now owns 271,385 shares of the investment management company’s stock worth $2,700,000 after acquiring an additional 30,421 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of THL Credit by 9.9% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 231,686 shares of the investment management company’s stock worth $2,305,000 after acquiring an additional 20,781 shares in the last quarter. Finally, BB&T Securities LLC raised its position in shares of THL Credit by 19.7% in the 2nd quarter. BB&T Securities LLC now owns 220,732 shares of the investment management company’s stock worth $2,196,000 after acquiring an additional 36,265 shares in the last quarter. 45.59% of the stock is owned by hedge funds and other institutional investors.

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Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $10.50 target price on shares of THL Credit in a research report on Monday. TheStreet lowered THL Credit from a “b-” rating to a “c+” rating in a research report on Monday, October 9th. Deutsche Bank AG lowered THL Credit from a “buy” rating to a “hold” rating and set a $10.50 target price on the stock. in a research report on Tuesday, August 8th. National Securities reaffirmed a “buy” rating and set a $12.00 target price on shares of THL Credit in a research report on Monday, August 7th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $10.00 target price on shares of THL Credit in a research report on Friday, July 14th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Shares of THL Credit, Inc. (NASDAQ:TCRD) traded down 0.22% on Tuesday, hitting $9.16. The stock had a trading volume of 37,419 shares. The stock has a 50 day moving average price of $9.26 and a 200-day moving average price of $9.73. THL Credit, Inc. has a 12-month low of $8.75 and a 12-month high of $10.60.

THL Credit (NASDAQ:TCRD) last issued its earnings results on Thursday, August 3rd. The investment management company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.04. The firm had revenue of $20.28 million during the quarter, compared to analysts’ expectations of $20.35 million. THL Credit had a net margin of 29.81% and a return on equity of 10.22%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Analysts predict that THL Credit, Inc. will post $1.14 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 11.76%. The ex-dividend date of this dividend was Thursday, September 14th. THL Credit’s payout ratio is 145.95%.

THL Credit Profile

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.

Institutional Ownership by Quarter for THL Credit (NASDAQ:TCRD)

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