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

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

Several other brokerages have also commented on TCRD. BidaskClub upgraded shares of THL Credit from a hold rating to a buy rating in a research note on Saturday, September 15th. Zacks Investment Research upgraded shares of THL Credit from a hold rating to a buy rating and set a $9.25 price target on the stock in a research note on Tuesday, August 14th. Finally, National Securities restated a neutral rating and issued a $10.00 price target on shares of THL Credit in a research note on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $9.85.

Shares of NASDAQ:TCRD traded down $0.05 during trading hours on Friday, hitting $7.76. The stock had a trading volume of 90,032 shares, compared to its average volume of 129,393. THL Credit has a 1-year low of $7.70 and a 1-year high of $9.67. The firm has a market capitalization of $263.68 million, a P/E ratio of 6.41 and a beta of 1.14. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.43.

THL Credit (NASDAQ:TCRD) last announced its quarterly earnings results on Wednesday, August 8th. The investment management company reported $0.31 EPS for the quarter, beating the consensus estimate 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 company had revenue of $18.36 million for the quarter, compared to analyst estimates of $16.92 million. Analysts predict that THL Credit will post 1.15 EPS for the current year.

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

Several hedge funds and other institutional investors have recently bought and sold shares of TCRD. Fort Washington Investment Advisors Inc. OH increased its stake in shares of THL Credit by 51.2% during the second 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 acquiring an additional 125,000 shares during the period. West Family Investments Inc. boosted its holdings in THL Credit by 8.0% during the second quarter. West Family Investments Inc. now owns 729,374 shares of the investment management company’s stock worth $5,704,000 after buying an additional 54,069 shares in the last quarter. Freestone Capital Holdings LLC boosted its holdings in THL Credit by 9.4% during the first quarter. Freestone Capital Holdings LLC now owns 312,093 shares of the investment management company’s stock worth $2,425,000 after buying an additional 26,772 shares in the last quarter. Jane Street Group LLC bought a new stake in THL Credit during the second quarter worth approximately $163,000. Finally, Legal & General Group Plc boosted its holdings in THL Credit by 17.9% during the first quarter. Legal & General Group Plc now owns 118,856 shares of the investment management company’s stock worth $924,000 after buying an additional 18,060 shares in the last quarter. Institutional investors and hedge funds own 40.24% of the company’s stock.

THL Credit Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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