THL Credit Sees Significant Growth in Short Interest (TCRD)
THL Credit (NASDAQ:TCRD) saw a large increase in short interest in the month of June. As of June 13th, there was short interest totalling 2,347,417 shares, an increase of 28.3% from the May 30th total of 1,829,184 shares, AR Network reports. Based on an average daily trading volume, of 292,375 shares, the short-interest ratio is currently 8.0 days. Approximately 7.3% of the shares of the company are short sold.
TCRD has been the subject of a number of recent research reports. Analysts at SunTrust initiated coverage on shares of THL Credit in a research note on Thursday, June 26th. They set a “buy” rating and a $15.00 price target on the stock. Separately, analysts at Bank of America reiterated a “buy” rating on shares of THL Credit in a research note on Thursday, May 15th. They now have a $14.75 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods cut their price target on shares of THL Credit from $16.00 to $15.00 in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $15.92.
Shares of THL Credit (NASDAQ:TCRD) opened at 14.08 on Thursday. THL Credit has a 52-week low of $12.80 and a 52-week high of $17.00. The stock’s 50-day moving average is $13.44 and its 200-day moving average is $14.5.
THL Credit (NASDAQ:TCRD) last announced its earnings results on Monday, May 12th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.33 by $0.01. The company had revenue of $20.90 million for the quarter, compared to the consensus estimate of $21.26 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 45.1% on a year-over-year basis. On average, analysts predict that THL Credit will post $1.35 earnings per share for the current fiscal year.
THL Credit, Inc is a non-diversified, closed-end management investment company. It operates as a business development company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.