THL Credit CFO Terrence W. Olson Buys 2,000 Shares (TCRD)
THL Credit (NASDAQ:TCRD) CFO Terrence W. Olson bought 2,000 shares of THL Credit stock in a transaction dated Wednesday, August 27th. The stock was purchased at an average cost of $13.94 per share, with a total value of $27,880.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of THL Credit (NASDAQ:TCRD) traded up 1.30% during mid-day trading on Thursday, hitting $14.05. The stock had a trading volume of 153,381 shares. 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 $13.58 and its 200-day moving average is $13.87. THL Credit also was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 460,947 shares, a decline of 29.1% from the July 31st total of 650,346 shares. Based on an average daily trading volume, of 143,564 shares, the short-interest ratio is currently 3.2 days. Currently, 1.4% of the company’s stock are short sold.
THL Credit (NASDAQ:TCRD) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.04. During the same quarter in the prior year, the company posted $0.49 earnings per share. On average, analysts predict that THL Credit will post $1.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 9.81%. The ex-dividend date of this dividend is Thursday, September 11th.
TCRD has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of THL Credit in a research note on Wednesday, August 13th. They now have a $14.50 price target on the stock, down previously from $14.75. Separately, analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of THL Credit in a research note on Wednesday, August 13th. They now have a $14.25 price target on the stock, down previously from $15.00. Finally, 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $15.50.
THL Credit, Inc is a non-diversified, closed-end management investment company. It operates as a business development company.
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