Freestone Capital Holdings LLC continued to hold its position in THL Credit, Inc. (NASDAQ:TCRD) during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 230,621 shares of the investment management company’s stock at the close of the 2nd quarter. Freestone Capital Holdings LLC’s holdings in THL Credit were worth $2,295,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in TCRD. Muzinich & Co. Inc. increased its stake in THL Credit by 103.5% during the 1st quarter. Muzinich & Co. Inc. now owns 898,081 shares of the investment management company’s stock valued at $8,945,000 after purchasing an additional 456,685 shares in the last quarter. UBS Group AG grew its stake 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 acquiring an additional 137,939 shares during the period. PVG Asset Management Corp bought a new stake in shares of THL Credit in the first quarter worth approximately $1,174,000. LSV Asset Management bought a new stake in shares of THL Credit in the second quarter worth approximately $779,000. Finally, Van ECK Associates Corp grew its stake in shares of THL Credit by 29.0% in the first quarter. Van ECK Associates Corp now owns 240,964 shares of the investment management company’s stock worth $2,400,000 after acquiring an additional 54,199 shares during the period. Institutional investors and hedge funds own 45.59% of the company’s stock.
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TCRD has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $10.50 price target on shares of THL Credit in a research note on Wednesday, August 16th. TheStreet upgraded shares of THL Credit from a “c+” rating to a “b-” rating in a research note on Monday, July 31st. Deutsche Bank AG lowered shares of THL Credit from a “buy” rating to a “hold” rating and set a $10.50 price target for the company. in a research note on Tuesday, August 8th. Jefferies Group LLC reiterated a “hold” rating and issued a $10.00 price target on shares of THL Credit in a research note on Friday, July 14th. Finally, National Securities reiterated a “buy” rating and issued a $12.00 price target on shares of THL Credit in a research note on Monday, August 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $11.00.
Shares of THL Credit, Inc. (NASDAQ TCRD) traded down 0.76% during mid-day trading on Friday, reaching $9.09. 37,250 shares of the company traded hands. The firm has a 50-day moving average price of $9.57 and a 200 day moving average price of $9.84. THL Credit, Inc. has a 52 week low of $8.75 and a 52 week high of $10.60.
THL Credit (NASDAQ:TCRD) last issued its quarterly earnings data on Thursday, August 3rd. The investment management company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $20.28 million for 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 business’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. Equities research analysts forecast that THL Credit, Inc. will post $1.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 11.80%. 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.
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