THL Credit, Inc. (NASDAQ:TCRD) Receives Consensus Recommendation of “Hold” from Brokerages
THL Credit, Inc. (NASDAQ:TCRD) has been assigned an average rating of “Hold” from the ten analysts that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.10.
Several analysts have recently commented on the company. Jefferies Group LLC reiterated a “hold” rating and set a $10.00 price objective on shares of THL Credit in a report on Friday, July 14th. Keefe, Bruyette & Woods set a $11.00 price objective on THL Credit and gave the company a “hold” rating in a report on Saturday, May 13th. Zacks Investment Research upgraded THL Credit from a “strong sell” rating to a “hold” rating in a report on Thursday, May 11th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of THL Credit in a report on Wednesday, May 10th. Finally, Citigroup Inc. reiterated a “market perform” rating on shares of THL Credit in a report on Wednesday, May 10th.
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In other news, CEO Sam W. Tillinghast bought 5,000 shares of THL Credit stock in a transaction that occurred on Tuesday, June 6th. The stock was bought at an average price of $10.01 per share, for a total transaction of $50,050.00. Following the purchase, the chief executive officer now directly owns 127,704 shares of the company’s stock, valued at approximately $1,278,317.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 6,925 shares of company stock valued at $69,056 in the last 90 days. 0.79% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of THL Credit during the fourth quarter worth about $281,000. GSA Capital Partners LLP purchased a new position in shares of THL Credit during the fourth quarter worth about $220,000. Guggenheim Capital LLC raised its position in shares of THL Credit by 34.8% in the fourth quarter. Guggenheim Capital LLC now owns 301,614 shares of the investment management company’s stock worth $3,019,000 after buying an additional 77,804 shares during the period. Confluence Investment Management LLC raised its position 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 worth $10,451,000 after buying an additional 105,400 shares during the period. Finally, Buckhead Capital Management LLC raised its position in shares of THL Credit by 19.8% in the first quarter. Buckhead Capital Management LLC now owns 363,059 shares of the investment management company’s stock worth $3,616,000 after buying an additional 59,977 shares during the period. Institutional investors own 48.85% of the company’s stock.
THL Credit (NASDAQ TCRD) opened at 10.15 on Wednesday. THL Credit has a 1-year low of $8.75 and a 1-year high of $11.84. The stock has a 50 day moving average price of $9.93 and a 200-day moving average price of $10.05.
THL Credit (NASDAQ:TCRD) last posted its earnings results on Thursday, May 4th. The investment management company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. THL Credit had a return on equity of 10.49% and a net margin of 27.37%. The company had revenue of $19.80 million during the quarter, compared to analyst estimates of $20.13 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. THL Credit’s revenue was down 12.3% on a year-over-year basis. Equities analysts forecast that THL Credit will post $1.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were paid a $0.27 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 10.64%. THL Credit’s dividend payout ratio (DPR) is 158.82%.
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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