THL Credit Inc. (TCRD) Stock Price Down 1.4%
THL Credit Inc. (NASDAQ:TCRD) shares were down 1.4% during trading on Wednesday . The stock traded as low as $9.45 and last traded at $9.48, with a volume of 154,350 shares. The stock had previously closed at $9.61.
Several research analysts recently commented on TCRD shares. Citigroup Inc. decreased their target price on shares of THL Credit from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, August 12th. National Securities reaffirmed a “neutral” rating and issued a $12.00 target price on shares of THL Credit in a research note on Monday, August 8th. Wells Fargo & Co. downgraded shares of THL Credit from an “outperform” rating to a “market perform” rating in a research note on Friday, August 5th. Keefe, Bruyette & Woods downgraded shares of THL Credit from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $12.50 to $11.50 in a research note on Monday, August 8th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of THL Credit in a research note on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.95.
The company’s 50 day moving average price is $10.11 and its 200 day moving average price is $10.75.
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THL Credit (NASDAQ:TCRD) last released its earnings results on Thursday, August 4th. The investment management company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. THL Credit had a positive return on equity of 11.80% and a negative net margin of 2.30%. The business had revenue of $20.50 million for the quarter, compared to analyst estimates of $23.06 million. During the same quarter last year, the firm posted $0.35 earnings per share. The business’s revenue was down 13.9% compared to the same quarter last year. Equities research analysts expect that THL Credit Inc. will post $1.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.36 annualized dividend and a dividend yield of 14.30%. THL Credit’s dividend payout ratio is currently -2,266.29%.
Several institutional investors have recently made changes to their positions in TCRD. Raymond James & Associates raised its position in shares of THL Credit by 13.1% in the second quarter. Raymond James & Associates now owns 13,650 shares of the investment management company’s stock valued at $152,000 after buying an additional 1,585 shares in the last quarter. National Planning Corp raised its position in shares of THL Credit by 12.3% in the first quarter. National Planning Corp now owns 16,000 shares of the investment management company’s stock valued at $169,000 after buying an additional 1,750 shares in the last quarter. WFG Advisors LP raised its position in shares of THL Credit by 1.6% in the second quarter. WFG Advisors LP now owns 16,662 shares of the investment management company’s stock valued at $185,000 after buying an additional 263 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of THL Credit during the first quarter valued at approximately $210,000. Finally, Ironwood Investment Counsel LLC purchased a new position in shares of THL Credit during the second quarter valued at approximately $221,000. Hedge funds and other institutional investors own 42.17% of the company’s stock.
THL Credit Company 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 middle market companies.
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