THL Credit (NASDAQ:TCRD) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday.
TCRD has been the topic of a number of other research reports. Deutsche Bank reduced their target price on THL Credit from $10.00 to $9.50 and set a “hold” rating on the stock in a report on Thursday, March 8th. Maxim Group cut THL Credit from a “buy” rating to a “hold” rating in a research report on Thursday, March 8th. National Securities cut THL Credit from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $11.00 to $10.00 in a research report on Thursday, March 8th. Keefe, Bruyette & Woods set a $9.00 price target on THL Credit and gave the stock a “hold” rating in a research report on Wednesday, March 7th. Finally, ValuEngine cut THL Credit from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $9.88.
THL Credit (TCRD) traded down $0.07 during mid-day trading on Wednesday, hitting $8.13. The company’s stock had a trading volume of 101,381 shares, compared to its average volume of 135,277. THL Credit has a 1 year low of $8.01 and a 1 year high of $10.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $267.92, a P/E ratio of -33.83, a price-to-earnings-growth ratio of 7.10 and a beta of 1.03.
In other THL Credit news, CEO Sam W. Tillinghast sold 37,339 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $8.28, for a total transaction of $309,166.92. Following the completion of the transaction, the chief executive officer now owns 90,365 shares of the company’s stock, valued at approximately $748,222.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James R. Fellows acquired 15,000 shares of the company’s stock in a transaction on Monday, March 12th. The shares were bought at an average cost of $8.29 per share, with a total value of $124,350.00. The disclosure for this purchase can be found here. Insiders acquired a total of 17,751 shares of company stock valued at $146,951 in the last quarter. 9.39% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. lifted its stake in THL Credit by 464.1% in the fourth quarter. Macquarie Group Ltd. now owns 62,754 shares of the investment management company’s stock worth $568,000 after purchasing an additional 51,630 shares during the last quarter. Bramshill Investments LLC bought a new stake in THL Credit in the fourth quarter worth about $515,000. Millennium Management LLC lifted its stake in THL Credit by 303.3% in the fourth quarter. Millennium Management LLC now owns 527,015 shares of the investment management company’s stock worth $4,769,000 after purchasing an additional 396,355 shares during the last quarter. Two Sigma Securities LLC bought a new stake in THL Credit in the fourth quarter worth about $146,000. Finally, Two Sigma Investments LP increased its position in shares of THL Credit by 26.5% during the fourth quarter. Two Sigma Investments LP now owns 151,793 shares of the investment management company’s stock worth $1,374,000 after acquiring an additional 31,752 shares during the period. 43.80% of the stock is owned by institutional investors and hedge funds.
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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