BidaskClub upgraded shares of THL Credit (NASDAQ:TCRD) from a sell rating to a hold rating in a research report released on Tuesday.
Other research analysts also recently issued reports about the company. National Securities downgraded THL Credit from a buy rating to a neutral rating and decreased their price target for the company from $11.00 to $10.00 in a research note on Thursday, March 8th. Deutsche Bank decreased their price target on THL Credit from $10.00 to $9.50 and set a hold rating for the company in a research note on Thursday, March 8th. Maxim Group downgraded THL Credit from a buy rating to a hold rating in a research note on Thursday, March 8th. ValuEngine downgraded THL Credit from a buy rating to a hold rating in a research note on Monday, April 2nd. Finally, Zacks Investment Research upgraded THL Credit from a hold rating to a buy rating and set a $9.25 price target for the company in a research note on Wednesday, March 14th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $9.88.
THL Credit opened at $7.90 on Tuesday, MarketBeat Ratings reports. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.49. The stock has a market cap of $259.76 million, a P/E ratio of 6.53, a PEG ratio of 7.28 and a beta of 1.04. THL Credit has a 52-week low of $7.70 and a 52-week high of $10.25.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a $0.27 dividend. The ex-dividend date is Thursday, June 14th. This represents a $1.08 dividend on an annualized basis and a yield of 13.67%. THL Credit’s dividend payout ratio is 89.26%.
In other THL Credit news, CFO Terrence W. Olson bought 13,098 shares of THL Credit stock in a transaction dated Friday, May 4th. The stock was bought at an average cost of $7.74 per share, for a total transaction of $101,378.52. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Terrence W. Olson bought 11,066 shares of THL Credit stock in a transaction dated Thursday, May 17th. The shares were acquired at an average price of $7.89 per share, with a total value of $87,310.74. The disclosure for this purchase can be found here. Insiders have bought a total of 309,161 shares of company stock valued at $2,457,163 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TCRD. Millennium Management LLC boosted its stake in shares of THL Credit by 303.3% during the 4th quarter. Millennium Management LLC now owns 527,015 shares of the investment management company’s stock worth $4,769,000 after acquiring an additional 396,355 shares during the period. Fiera Capital Corp boosted its stake in shares of THL Credit by 55.4% during the 1st quarter. Fiera Capital Corp now owns 700,123 shares of the investment management company’s stock worth $5,440,000 after acquiring an additional 249,706 shares during the period. Athena Capital Advisors LLC boosted its stake in shares of THL Credit by 171.7% during the 1st quarter. Athena Capital Advisors LLC now owns 298,285 shares of the investment management company’s stock worth $2,318,000 after acquiring an additional 188,511 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of THL Credit by 303.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 234,654 shares of the investment management company’s stock worth $2,124,000 after acquiring an additional 176,454 shares during the period. Finally, Personal Resources Investment & Strategic Management Inc. bought a new position in shares of THL Credit during the 4th quarter worth approximately $1,288,000. Institutional investors own 44.97% of the company’s stock.
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.
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