Keefe, Bruyette & Woods reiterated their hold rating on shares of THL Credit, Inc. (NASDAQ:TCRD) in a research report report published on Monday. They currently have a $10.50 price target on the investment management company’s stock.
Other equities analysts also recently issued reports about the stock. TheStreet raised shares of THL Credit from a c+ rating to a b- rating in a report on Monday, July 31st. National Securities reaffirmed a buy rating and set a $12.00 price objective on shares of THL Credit in a report on Monday, August 7th. Deutsche Bank AG downgraded shares of THL Credit from a buy rating to a hold rating and set a $10.50 price objective on the stock. in a report on Tuesday, August 8th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $10.00 price objective on shares of THL Credit in a report on Friday, July 14th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $11.00.
THL Credit (TCRD) traded up 1.692% on Monday, hitting $9.315. 59,459 shares of the company were exchanged. THL Credit has a 52 week low of $8.75 and a 52 week high of $10.60. The firm’s 50 day moving average is $9.24 and its 200 day moving average is $9.72.
THL Credit (NASDAQ:TCRD) last posted its quarterly earnings data on Thursday, August 3rd. The investment management company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The business had revenue of $20.28 million for the quarter, compared to the consensus estimate of $20.35 million. THL Credit had a net margin of 29.81% and a return on equity of 10.22%. The company’s revenue 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 will post $1.14 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 11.79%. The ex-dividend date of this dividend was Thursday, September 14th. THL Credit’s dividend payout ratio is currently 145.95%.
Large investors have recently bought and sold shares of the company. PVG Asset Management Corp purchased a new position in shares of THL Credit in the first quarter worth about $1,174,000. Mackenzie Financial Corp lifted its stake in shares of THL Credit by 75.2% in the first quarter. Mackenzie Financial Corp now owns 55,939 shares of the investment management company’s stock worth $557,000 after buying an additional 24,003 shares in the last quarter. BB&T Securities LLC lifted its stake in shares of THL Credit by 19.7% in the second quarter. BB&T Securities LLC now owns 220,732 shares of the investment management company’s stock worth $2,196,000 after buying an additional 36,265 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of THL Credit in the first quarter worth about $130,000. Finally, LSV Asset Management purchased a new position in shares of THL Credit in the second quarter worth about $779,000. 45.59% of the stock is currently owned by hedge funds and other institutional investors.
THL Credit Company 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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