Deutsche Bank AG Lowers THL Credit, Inc. (TCRD) to Hold

THL Credit, Inc. (NASDAQ:TCRD) was downgraded by equities researchers at Deutsche Bank AG from a “buy” rating to a “hold” rating in a research report issued on Tuesday, The Fly reports.

A number of other equities research analysts have also weighed in on TCRD. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $10.50 target price on shares of THL Credit in a research note on Tuesday, April 11th. TheStreet lowered shares of THL Credit from a “b-” rating to a “c” rating in a research note on Monday, April 10th. Maxim Group reaffirmed a “buy” rating and set a $12.00 target price on shares of THL Credit in a research note on Friday, May 5th. National Securities raised shares of THL Credit from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $12.00 in a research note on Monday, May 8th. Finally, Citigroup Inc. reaffirmed a “market perform” rating on shares of THL Credit in a research note on Wednesday, May 10th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $10.92.

THL Credit (NASDAQ TCRD) opened at 9.87 on Tuesday. The stock’s 50 day moving average is $9.95 and its 200 day moving average is $10.03. THL Credit has a one year low of $8.75 and a one year high of $11.70.

THL Credit (NASDAQ:TCRD) last announced its earnings results on Thursday, August 3rd. The investment management company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $20.28 million for the quarter, compared to analyst estimates of $20.35 million. THL Credit had a net margin of 29.81% and a return on equity of 10.22%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. Equities research analysts expect that THL Credit will post $1.13 earnings per share for the current fiscal year.

In other THL Credit news, CEO Sam W. Tillinghast purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was bought at an average cost of $10.01 per share, with a total value of $50,050.00. Following the transaction, the chief executive officer now directly owns 127,704 shares in the company, valued at approximately $1,278,317.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have purchased 6,925 shares of company stock valued at $69,056. 0.79% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TCRD. Russell Investments Group Ltd. acquired a new position in shares of THL Credit during the fourth quarter worth about $281,000. Buckhead Capital Management LLC boosted 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. Founders Financial Securities LLC acquired a new position in shares of THL Credit during the first quarter worth about $135,000. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of THL Credit by 97.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 210,905 shares of the investment management company’s stock worth $2,100,000 after buying an additional 103,912 shares during the period. Finally, Shikiar Asset Management Inc. boosted its position in shares of THL Credit by 20.6% in the first quarter. Shikiar Asset Management Inc. now owns 380,750 shares of the investment management company’s stock worth $3,792,000 after buying an additional 65,050 shares during the period. 48.65% of the stock is owned by institutional investors.

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.