THL Credit, Inc. (TCRD) Downgraded to “C+” at TheStreet

TheStreet lowered shares of THL Credit, Inc. (NASDAQ:TCRD) from a b- rating to a c+ rating in a research note issued to investors on Monday morning.

A number of other analysts have also recently weighed in on TCRD. National Securities reaffirmed a buy rating and issued a $12.00 price target on shares of THL Credit in a research report on Monday, August 7th. Jefferies Group LLC reaffirmed a hold rating and issued a $10.00 price target on shares of THL Credit in a research report on Friday, July 14th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $10.50 price target on shares of THL Credit in a research report on Wednesday, August 16th. Finally, Deutsche Bank AG cut THL Credit from a buy rating to a hold rating and set a $10.50 price target for the company. in a research report on Tuesday, August 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $11.00.

Shares of THL Credit (NASDAQ:TCRD) opened at 9.25 on Monday. The stock has a 50 day moving average price of $9.28 and a 200-day moving average price of $9.74. THL Credit has a 1-year low of $8.75 and a 1-year high of $10.60.

THL Credit (NASDAQ:TCRD) last announced its quarterly earnings results on Thursday, August 3rd. The investment management company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. THL Credit had a return on equity of 10.22% and a net margin of 29.81%. The company had revenue of $20.28 million during the quarter, compared to analysts’ expectations of $20.35 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts expect that THL Credit will post $1.14 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.08 annualized dividend and a dividend yield of 11.68%. THL Credit’s dividend payout ratio is presently 145.95%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Confluence Investment Management LLC lifted its position in shares of THL Credit by 2.6% during the 2nd quarter. Confluence Investment Management LLC now owns 1,076,343 shares of the investment management company’s stock worth $10,710,000 after purchasing an additional 27,108 shares during the last quarter. UBS Group AG lifted its position in shares of THL Credit by 20.6% during the 1st quarter. UBS Group AG now owns 806,713 shares of the investment management company’s stock worth $8,035,000 after purchasing an additional 137,939 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of THL Credit by 12.6% during the 2nd quarter. Van ECK Associates Corp now owns 271,385 shares of the investment management company’s stock worth $2,700,000 after purchasing an additional 30,421 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of THL Credit by 9.9% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 231,686 shares of the investment management company’s stock worth $2,305,000 after purchasing an additional 20,781 shares during the last quarter. Finally, BB&T Securities LLC lifted its position in shares of THL Credit by 19.7% during the 2nd quarter. BB&T Securities LLC now owns 220,732 shares of the investment management company’s stock worth $2,196,000 after purchasing an additional 36,265 shares during the last quarter. 45.59% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for THL Credit (NASDAQ:TCRD)

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