THL Credit (TCRD) Upgraded by ValuEngine to “Sell”

ValuEngine upgraded shares of THL Credit (NASDAQ:TCRD) from a strong sell rating to a sell rating in a report released on Friday morning.

A number of other equities research analysts have also issued reports on TCRD. BidaskClub lowered shares of THL Credit from a hold rating to a sell rating in a research note on Monday, October 8th. Zacks Investment Research lowered shares of THL Credit from a buy rating to a hold rating in a research note on Wednesday. Finally, National Securities reissued a neutral rating and set a $10.00 target price on shares of THL Credit in a research note on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. THL Credit currently has an average rating of Hold and a consensus price target of $9.85.

THL Credit stock traded down $0.05 during midday trading on Friday, reaching $7.76. The stock had a trading volume of 90,032 shares, compared to its average volume of 129,393. THL Credit has a twelve month low of $7.70 and a twelve month high of $9.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $263.68 million, a price-to-earnings ratio of 6.41 and a beta of 1.14.

THL Credit (NASDAQ:TCRD) last posted its quarterly earnings data on Wednesday, August 8th. The investment management company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. THL Credit had a negative net margin of 8.89% and a positive return on equity of 11.15%. The firm had revenue of $18.36 million during the quarter, compared to analyst estimates of $16.92 million. Equities analysts forecast that THL Credit will post 1.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 13.92%. The ex-dividend date of this dividend was Thursday, September 13th. THL Credit’s dividend payout ratio (DPR) is currently 89.26%.

Several institutional investors have recently added to or reduced their stakes in TCRD. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of THL Credit by 51.2% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 369,234 shares of the investment management company’s stock valued at $2,887,000 after purchasing an additional 125,000 shares in the last quarter. West Family Investments Inc. raised its holdings in shares of THL Credit by 8.0% during the 2nd quarter. West Family Investments Inc. now owns 729,374 shares of the investment management company’s stock valued at $5,704,000 after purchasing an additional 54,069 shares in the last quarter. Freestone Capital Holdings LLC raised its holdings in shares of THL Credit by 9.4% during the 1st quarter. Freestone Capital Holdings LLC now owns 312,093 shares of the investment management company’s stock valued at $2,425,000 after purchasing an additional 26,772 shares in the last quarter. Jane Street Group LLC bought a new position in shares of THL Credit during the 2nd quarter valued at $163,000. Finally, Legal & General Group Plc raised its holdings in shares of THL Credit by 17.9% during the 1st quarter. Legal & General Group Plc now owns 118,856 shares of the investment management company’s stock valued at $924,000 after purchasing an additional 18,060 shares in the last quarter. Institutional investors and hedge funds own 40.24% of the company’s stock.

About THL Credit

THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. Its objective is to generate both current income and capital appreciation, through investments in privately negotiated debt and equity securities of lower middle market companies. The company was founded on May 26, 2009 and is headquartered in Boston, MA.

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