THL Credit Short Interest Down 29.1% in August (TCRD)
THL Credit (NASDAQ:TCRD) saw a significant decline in short interest in 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, Analyst Ratings Network.com reports. Based on an average daily volume of 143,564 shares, the days-to-cover ratio is currently 3.2 days. Currently, 1.4% of the shares of the stock are sold short.
In other THL Credit news, CEO Christopher J. Flynn bought 5,500 shares of THL Credit stock on the open market in a transaction that occurred on Thursday, August 28th. The shares were purchased at an average cost of $14.00 per share, for a total transaction of $77,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on TCRD shares. 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 given a buy rating to the company. THL Credit currently has an average rating of “Buy” and an average target price of $15.50.
THL Credit (NASDAQ:TCRD) opened at 14.09 on Friday. THL Credit has a one year low of $12.80 and a one year high of $17.00. The stock’s 50-day moving average is $13.62 and its 200-day moving average is $13.82.
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. Analysts expect that THL Credit will post $1.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 9.65%. The ex-dividend date 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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