THL Credit, Inc. (TCRD) Short Interest Update
THL Credit, Inc. (NASDAQ:TCRD) was the target of a large increase in short interest in the month of April. As of April 28th, there was short interest totalling 243,319 shares, an increase of 17.0% from the April 13th total of 207,898 shares. Based on an average daily volume of 69,219 shares, the days-to-cover ratio is currently 3.5 days.
THL Credit (NASDAQ:TCRD) traded down 0.31% during trading on Friday, reaching $9.65. 103,299 shares of the company’s stock were exchanged. The company has a market capitalization of $317.73 million, a price-to-earnings ratio of 18.67 and a beta of 0.96. THL Credit has a 52-week low of $8.75 and a 52-week high of $11.84. The stock’s 50-day moving average price is $9.91 and its 200-day moving average price is $10.04.
THL Credit (NASDAQ:TCRD) last released its quarterly earnings data on Thursday, May 4th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $19.80 million for the quarter, compared to analysts’ expectations of $20.13 million. THL Credit had a return on equity of 11.82% and a net margin of 5.92%. THL Credit’s quarterly revenue was down 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. Equities analysts expect that THL Credit will post $1.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 11.19%. The ex-dividend date is Tuesday, June 13th. THL Credit’s dividend payout ratio (DPR) is 675.04%.
In other THL Credit news, insider James R. Fellows acquired 12,000 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were purchased at an average cost of $9.69 per share, with a total value of $116,280.00. Following the purchase, the insider now owns 12,000 shares in the company, valued at $116,280. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 17,275 shares of company stock worth $167,396. Corporate insiders own 0.88% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TCRD. Ares Management LLC boosted its stake in shares of THL Credit by 4.2% in the first quarter. Ares Management LLC now owns 1,060,152 shares of the investment management company’s stock worth $10,559,000 after buying an additional 42,701 shares during the period. Confluence Investment Management LLC boosted its stake in shares of THL Credit by 11.2% in the first quarter. Confluence Investment Management LLC now owns 1,049,235 shares of the investment management company’s stock valued at $10,451,000 after buying an additional 105,400 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of THL Credit by 7.2% in the first quarter. Advisors Asset Management Inc. now owns 974,010 shares of the investment management company’s stock valued at $9,701,000 after buying an additional 65,811 shares during the last quarter. Muzinich & Co. Inc. boosted its stake in shares of THL Credit by 103.5% in the first quarter. Muzinich & Co. Inc. now owns 898,081 shares of the investment management company’s stock valued at $8,945,000 after buying an additional 456,685 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of THL Credit by 20.6% in the first quarter. UBS Group AG now owns 806,713 shares of the investment management company’s stock valued at $8,035,000 after buying an additional 137,939 shares during the last quarter. Hedge funds and other institutional investors own 43.41% of the company’s stock.
A number of brokerages recently commented on TCRD. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $10.50 price objective on shares of THL Credit in a research note on Tuesday, April 11th. TheStreet cut shares of THL Credit from a “b-” rating to a “c” rating in a research note on Monday, April 10th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of THL Credit in a research note on Wednesday, May 10th. Citigroup Inc reaffirmed a “market perform” rating on shares of THL Credit in a research note on Wednesday, May 10th. Finally, Zacks Investment Research raised shares of THL Credit from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 11th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. THL Credit has an average rating of “Hold” and a consensus price target of $11.07.
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About THL Credit
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 lower middle market companies.
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