Janney Montgomery Scott LLC purchased a new stake in THL Credit, Inc. (NASDAQ:TCRD) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,500 shares of the investment management company’s stock, valued at approximately $163,000. Janney Montgomery Scott LLC owned approximately 0.05% of THL Credit as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. acquired a new position in THL Credit in the second quarter valued at approximately $105,000. Macquarie Group Ltd. acquired a new position in THL Credit in the third quarter valued at approximately $104,000. Cetera Investment Advisers acquired a new position in THL Credit in the second quarter valued at approximately $136,000. CIBC World Markets Inc. acquired a new position in THL Credit in the second quarter valued at approximately $150,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in THL Credit in the second quarter valued at approximately $390,000. 43.77% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $10.50 price target on shares of THL Credit in a report on Monday, October 16th. ValuEngine raised THL Credit from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Maxim Group reaffirmed a “buy” rating and issued a $11.50 price target on shares of THL Credit in a report on Friday, November 10th. National Securities lowered their price target on THL Credit from $12.00 to $11.00 and set a “buy” rating for the company in a report on Monday, November 13th. Finally, TheStreet downgraded THL Credit from a “b-” rating to a “c+” rating in a report on Monday, October 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $10.70.
THL Credit (NASDAQ:TCRD) last posted its quarterly earnings data on Thursday, November 9th. The investment management company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.07. The business had revenue of $20.10 million during the quarter, compared to the consensus estimate of $19.74 million. THL Credit had a return on equity of 10.53% and a net margin of 23.15%. The company’s revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. sell-side analysts predict that THL Credit, Inc. will post 1.25 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 11.93%. The ex-dividend date of this dividend was Thursday, December 14th. THL Credit’s payout ratio is currently 189.48%.
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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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