THL Credit, Inc. (NASDAQ:TCRD) Raised to B- at TheStreet

THL Credit, Inc. (NASDAQ:TCRD) was upgraded by TheStreet from a “c+” rating to a “b-” rating in a research report issued to clients and investors on Monday.

TCRD has been the topic of a number of other reports. Zacks Investment Research raised shares of THL Credit from a “strong sell” rating to a “hold” rating in a report on Thursday, May 11th. Jefferies Group LLC reissued a “hold” rating and set a $10.00 target price on shares of THL Credit in a report on Friday, July 14th. National Securities raised shares of THL Credit from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $12.00 in a report on Monday, May 8th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $10.50 target price on shares of THL Credit in a report on Tuesday, April 11th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of THL Credit in a report on Wednesday, May 10th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. THL Credit currently has an average rating of “Hold” and a consensus price target of $10.92.

THL Credit (TCRD) opened at 10.18 on Monday. THL Credit has a 52 week low of $8.75 and a 52 week high of $11.84. The firm has a 50-day moving average of $9.95 and a 200-day moving average of $10.03.

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 the Zacks’ consensus estimate of $0.27 by $0.02. THL Credit had a net margin of 27.37% and a return on equity of 10.49%. The firm had revenue of $19.80 million for the quarter, compared to analyst estimates of $20.13 million. During the same period in the previous year, the firm posted $0.40 EPS. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. Analysts predict that THL Credit will post $1.12 EPS for the current fiscal year.

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In other news, CEO Sam W. Tillinghast acquired 5,000 shares of THL Credit stock in a transaction dated Tuesday, June 6th. The shares were bought at an average cost of $10.01 per share, with a total value of $50,050.00. Following the purchase, the chief executive officer now owns 127,704 shares in the company, valued at approximately $1,278,317.04. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 6,925 shares of company stock worth $69,056. Insiders own 0.79% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Oxford Asset Management purchased a new stake in THL Credit during the first quarter worth approximately $110,000. Stifel Financial Corp purchased a new stake in THL Credit during the first quarter worth approximately $130,000. Founders Financial Securities LLC purchased a new stake in THL Credit during the first quarter worth approximately $135,000. Nine Chapters Capital Management LLC purchased a new stake in THL Credit during the first quarter worth approximately $176,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in THL Credit by 19.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,117 shares of the investment management company’s stock worth $210,000 after buying an additional 3,388 shares in the last quarter. 48.75% of the stock is currently owned by institutional investors.

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 lower middle market companies.