THL Credit (TCRD) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of THL Credit (NASDAQ:TCRD) from a sell rating to a hold rating in a report published on Tuesday morning, ValuEngine reports.

A number of other brokerages have also commented on TCRD. National Securities cut their price target on THL Credit from $8.00 to $7.00 and set a neutral rating on the stock in a research note on Monday. Zacks Investment Research lowered THL Credit from a hold rating to a sell rating in a research note on Wednesday, March 13th. Finally, Raymond James raised THL Credit from an underperform rating to a market perform rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of Hold and a consensus price target of $8.13.

Shares of TCRD stock opened at $6.66 on Tuesday. THL Credit has a 12 month low of $5.80 and a 12 month high of $8.75. The stock has a market cap of $210.93 million, a PE ratio of 6.22 and a beta of 1.15. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.36.

THL Credit (NASDAQ:TCRD) last announced its quarterly earnings results on Thursday, May 9th. The investment management company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.03). THL Credit had a negative net margin of 15.79% and a positive return on equity of 10.69%. The firm had revenue of $14.19 million for the quarter, compared to analyst estimates of $15.19 million. Equities analysts predict that THL Credit will post 1 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 12.61%. The ex-dividend date of this dividend is Thursday, June 13th. THL Credit’s payout ratio is 78.50%.

Several institutional investors have recently bought and sold shares of TCRD. FNY Investment Advisers LLC acquired a new position in shares of THL Credit in the fourth quarter worth approximately $83,000. B. Riley Wealth Management Inc. acquired a new position in shares of THL Credit in the fourth quarter worth approximately $128,000. Bank of Montreal Can acquired a new position in shares of THL Credit in the first quarter worth approximately $216,000. Wells Fargo & Company MN lifted its stake in shares of THL Credit by 46.5% in the first quarter. Wells Fargo & Company MN now owns 37,874 shares of the investment management company’s stock worth $248,000 after acquiring an additional 12,020 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of THL Credit by 51.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,481 shares of the investment management company’s stock worth $270,000 after acquiring an additional 15,045 shares during the period. 36.86% of the stock is currently owned by institutional investors.

THL Credit Company Profile

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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