Shares of THL Credit, Inc. (NASDAQ:TCRD) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the firm. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $11.25.
TCRD has been the subject of a number of recent analyst reports. Zacks Investment Research cut THL Credit from a “hold” rating to a “sell” rating in a research report on Tuesday, March 14th. Jefferies Group LLC lowered their price objective on THL Credit from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Monday, March 13th. Finally, National Securities reissued a “neutral” rating and issued a $11.00 price objective on shares of THL Credit in a research report on Monday, March 13th.
Shares of THL Credit (NASDAQ:TCRD) opened at 9.78 on Monday. THL Credit has a 52-week low of $8.75 and a 52-week high of $11.84. The company’s 50-day moving average price is $10.28 and its 200-day moving average price is $9.96.
THL Credit (NASDAQ:TCRD) last announced its quarterly earnings results on Thursday, March 9th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.02. THL Credit had a net margin of 5.92% and a return on equity of 11.82%. During the same period in the previous year, the company earned $0.36 earnings per share. Equities analysts expect that THL Credit will post $1.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Monday, March 20th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $1.08 dividend on an annualized basis and a yield of 11.04%. THL Credit’s dividend payout ratio is currently 675.04%.
In other news, insider James R. Fellows purchased 12,000 shares of the stock in a transaction on Tuesday, March 14th. The stock was bought at an average price of $9.69 per share, with a total value of $116,280.00. Following the transaction, the insider now owns 12,000 shares in the company, valued at approximately $116,280. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have acquired 16,250 shares of company stock valued at $157,300. 0.88% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in shares of THL Credit by 1.1% in the fourth quarter. Private Advisor Group LLC now owns 50,251 shares of the investment management company’s stock worth $516,000 after buying an additional 550 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of THL Credit by 8.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 17,729 shares of the investment management company’s stock worth $177,000 after buying an additional 1,310 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of THL Credit during the fourth quarter worth approximately $104,000. Airain ltd purchased a new stake in shares of THL Credit during the third quarter worth approximately $100,000. Finally, M&T Bank Corp purchased a new stake in shares of THL Credit during the third quarter worth approximately $100,000. 43.41% of the stock is owned by institutional investors.
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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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