THL Credit Inc. (TCRD) Shares Down 3.2%
THL Credit Inc. (NASDAQ:TCRD)’s share price was down 3.2% during trading on Friday . The stock traded as low as $11.37 and last traded at $11.40, with a volume of 146,512 shares trading hands. The stock had previously closed at $11.78.
Several equities analysts have recently commented on TCRD shares. Wells Fargo & Co. raised THL Credit from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 12th. Maxim Group decreased their price objective on THL Credit from $12.75 to $12.25 and set a “buy” rating for the company in a report on Monday, May 9th. National Securities reissued a “neutral” rating and issued a $12.00 price objective on shares of THL Credit in a report on Monday, May 9th. JMP Securities lowered THL Credit from a “mkt outperform” rating to a “market perform” rating in a report on Thursday, June 2nd. Finally, Janney Montgomery Scott initiated coverage on THL Credit in a report on Friday, June 17th. They issued a “neutral” rating and a $12.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. THL Credit presently has an average rating of “Hold” and a consensus target price of $12.45.
The stock’s 50-day moving average price is $11.35 and its 200 day moving average price is $10.60.
THL Credit (NASDAQ:TCRD) last released its earnings results on Thursday, August 4th. The investment management company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. During the same quarter in the previous year, the business posted $0.35 EPS. The company earned $20.50 million during the quarter, compared to the consensus estimate of $23.06 million. The firm’s quarterly revenue was down 13.9% on a year-over-year basis. Equities analysts forecast that THL Credit Inc. will post $1.41 EPS for the current fiscal year.
In other THL Credit news, Director Deborah H. Mcaneny purchased 9,500 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was purchased at an average price of $10.88 per share, for a total transaction of $103,360.00. Following the completion of the purchase, the director now directly owns 9,500 shares in the company, valued at $103,360. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
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 middle market companies.
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