THL Credit, Inc. (NASDAQ:TCRD) has received an average rating of “Hold” from the ten research firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $11.10.
A number of research firms have commented on TCRD. Zacks Investment Research upgraded THL Credit from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $10.00 price target on shares of THL Credit in a research report on Friday, July 14th. National Securities upgraded THL Credit from a “neutral” rating to a “buy” rating and upped their price target for the company from $11.00 to $12.00 in a research report on Monday, May 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $10.50 price target on shares of THL Credit in a research report on Tuesday, April 11th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of THL Credit in a research report on Wednesday, May 10th.
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In other THL Credit news, CEO Sam W. Tillinghast bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were bought at an average price of $10.01 per share, for a total transaction of $50,050.00. Following the transaction, the chief executive officer now directly owns 127,704 shares in the company, valued at $1,278,317.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have purchased 6,925 shares of company stock worth $69,056. 0.79% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Wedbush Securities Inc. raised its position in shares of THL Credit by 1.6% in the first quarter. Wedbush Securities Inc. now owns 30,400 shares of the investment management company’s stock valued at $303,000 after buying an additional 476 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of THL Credit by 19.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,117 shares of the investment management company’s stock valued at $210,000 after buying an additional 3,388 shares during the last quarter. Legal & General Group Plc raised its position in shares of THL Credit by 5.9% in the first quarter. Legal & General Group Plc now owns 75,969 shares of the investment management company’s stock valued at $756,000 after buying an additional 4,263 shares during the last quarter. Oxford Asset Management purchased a new position in shares of THL Credit during the first quarter valued at about $110,000. Finally, West Family Investments Inc. raised its position in shares of THL Credit by 1.9% in the first quarter. West Family Investments Inc. now owns 612,713 shares of the investment management company’s stock valued at $6,103,000 after buying an additional 11,310 shares during the last quarter. Institutional investors own 48.85% of the company’s stock.
Shares of THL Credit (TCRD) remained flat at $10.13 during trading on Wednesday. The stock had a trading volume of 166,471 shares. THL Credit has a 1-year low of $8.75 and a 1-year high of $11.84. The stock has a 50 day moving average of $9.94 and a 200 day moving average of $10.05.
THL Credit (NASDAQ:TCRD) last released its quarterly earnings results on Thursday, May 4th. The investment management company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. THL Credit had a return on equity of 10.49% and a net margin of 27.37%. The firm had revenue of $19.80 million for the quarter, compared to analyst estimates of $20.13 million. During the same quarter in the previous year, the company posted $0.40 EPS. The business’s revenue was down 12.3% on a year-over-year basis. Equities research analysts expect that THL Credit will post $1.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.08 annualized dividend and a dividend yield of 10.66%. THL Credit’s payout ratio is 158.82%.
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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