Confluence Investment Management LLC trimmed its position in THL Credit, Inc. (NASDAQ:TCRD) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,035,978 shares of the investment management company’s stock after selling 24,170 shares during the quarter. Confluence Investment Management LLC owned approximately 3.17% of THL Credit worth $9,376,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in TCRD. Private Advisor Group LLC increased its position in shares of THL Credit by 1.7% in the second quarter. Private Advisor Group LLC now owns 49,751 shares of the investment management company’s stock worth $495,000 after purchasing an additional 850 shares during the last quarter. Legal & General Group Plc increased its position in shares of THL Credit by 10.8% in the second quarter. Legal & General Group Plc now owns 84,155 shares of the investment management company’s stock worth $839,000 after purchasing an additional 8,186 shares during the last quarter. OxFORD Asset Management LLP increased its position in shares of THL Credit by 7.6% in the third quarter. OxFORD Asset Management LLP now owns 147,823 shares of the investment management company’s stock worth $1,361,000 after purchasing an additional 10,381 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of THL Credit in the second quarter worth approximately $105,000. Finally, Macquarie Group Ltd. bought a new position in shares of THL Credit in the third quarter worth approximately $104,000. 43.69% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the stock. National Securities decreased their price objective on shares of THL Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, November 13th. ValuEngine upgraded shares of THL Credit from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Maxim Group restated a “buy” rating and issued a $11.50 price objective on shares of THL Credit in a research report on Friday, November 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $10.50 price objective on shares of THL Credit in a research report on Monday, October 16th. Finally, TheStreet cut shares of THL Credit from a “b-” rating to a “c+” rating in a research report on Monday, October 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. THL Credit has a consensus rating of “Hold” and an average target price of $10.70.
THL Credit (NASDAQ:TCRD) last issued its quarterly earnings results on Thursday, November 9th. The investment management company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. THL Credit had a net margin of 23.15% and a return on equity of 10.53%. The business had revenue of $20.10 million for the quarter, compared to analysts’ expectations of $19.74 million. During the same period last year, the business earned $0.32 earnings per share. The business’s quarterly revenue was down 6.9% on a year-over-year basis. equities research analysts predict that THL Credit, Inc. will post 1.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 11.78%. The ex-dividend date of this dividend was Thursday, December 14th. THL Credit’s payout ratio is currently 189.48%.
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THL Credit 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.
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