THL Credit CEO Buys $77,000 in Stock (TCRD)
THL Credit (NASDAQ:TCRD) CEO Christopher J. Flynn acquired 5,500 shares of the stock on the open market in a transaction that occurred on Thursday, August 28th. The stock was purchased at an average cost of $14.00 per share, with a total value of $77,000.00. Following the completion of the transaction, the chief executive officer now directly owns 15,370 shares in the company, valued at approximately $215,180. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $15.50.
THL Credit (NASDAQ:TCRD) traded up 1.28% during mid-day trading on Friday, hitting $14.23. 122,270 shares of the company’s stock traded hands. THL Credit has a 52-week low of $12.80 and a 52-week high of $17.00. The stock has a 50-day moving average of $13.59 and a 200-day moving average of $13.88. THL Credit also was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 460,947 shares, a decrease of 29.1% from the July 31st total of 650,346 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 143,564 shares, the days-to-cover ratio is currently 3.2 days.
THL Credit (NASDAQ:TCRD) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.04. During the same quarter last 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. Shareholders 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 9.68%. The ex-dividend date of this dividend is Thursday, September 11th.
THL Credit, Inc is a non-diversified, closed-end management investment company. It operates as a business development company.
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