ValuEngine upgraded shares of THL Credit (NASDAQ:TCRD) from a sell rating to a hold rating in a research note released on Friday.
Other equities analysts have also issued reports about the company. BidaskClub upgraded THL Credit from a hold rating to a buy rating in a research report on Saturday, September 15th. National Securities restated a neutral rating and set a $10.00 price target on shares of THL Credit in a research report on Tuesday, August 14th. Zacks Investment Research upgraded THL Credit from a hold rating to a buy rating and set a $9.25 price target on the stock in a research report on Tuesday, August 14th. Finally, Raymond James restated an underperform rating on shares of THL Credit in a research report on Friday, November 9th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. THL Credit presently has an average rating of Hold and an average price target of $9.19.
TCRD traded up $0.10 on Friday, hitting $7.27. 458,733 shares of the company were exchanged, compared to its average volume of 147,825. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.22 and a quick ratio of 0.22. THL Credit has a 12 month low of $7.04 and a 12 month high of $9.64. The firm has a market cap of $234.27 million, a price-to-earnings ratio of 6.01 and a beta of 1.04.
THL Credit (NASDAQ:TCRD) last posted its quarterly earnings results on Wednesday, November 7th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). THL Credit had a positive return on equity of 10.73% and a negative net margin of 8.62%. The company had revenue of $16.08 million for the quarter, compared to the consensus estimate of $16.63 million. As a group, sell-side analysts anticipate that THL Credit will post 1.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be given a $0.27 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 14.86%. THL Credit’s dividend payout ratio is currently 89.26%.
Several hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp grew its position in shares of THL Credit by 73.1% in the 3rd quarter. Mackenzie Financial Corp now owns 96,843 shares of the investment management company’s stock worth $782,000 after buying an additional 40,904 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of THL Credit by 4.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 504,355 shares of the investment management company’s stock worth $4,070,000 after buying an additional 20,819 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of THL Credit in the 3rd quarter worth approximately $238,000. Freestone Capital Holdings LLC bought a new stake in shares of THL Credit in the 3rd quarter worth approximately $2,420,000. Finally, Trexquant Investment LP bought a new stake in shares of THL Credit in the 3rd quarter worth approximately $123,000. Hedge funds and other institutional investors own 41.03% of the company’s stock.
About THL Credit
THL Credit, Inc is a business development company specializing in direct and fund of fund investments. The fund seeks to invest in debt and equity securities of middle market companies. It seeks to invest in PIPES, growth, acquisition, market or product expansion, recapitalization, mature, and change of control transactions in both sponsored and unsponsored issuers.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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