THL Credit, Inc. (TCRD) CFO Terrence W. Olson Purchases 1,886 Shares
THL Credit, Inc. (NASDAQ:TCRD) CFO Terrence W. Olson bought 1,886 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were acquired at an average cost of $9.32 per share, with a total value of $17,577.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of THL Credit, Inc. (NASDAQ:TCRD) traded up 1.63% during trading on Friday, hitting $9.35. 48,755 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $9.78 and a 200-day moving average price of $9.92. THL Credit, Inc. has a one year low of $8.75 and a one year high of $10.60.
THL Credit (NASDAQ:TCRD) last posted its quarterly earnings results on Thursday, August 3rd. 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 net margin of 29.81% and a return on equity of 10.22%. The business had revenue of $20.28 million during the quarter, compared to analyst estimates of $20.35 million. During the same quarter in the previous year, the business posted $0.35 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts anticipate that THL Credit, Inc. will post $1.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.08 annualized dividend and a dividend yield of 11.74%. THL Credit’s dividend payout ratio (DPR) is presently 145.95%.
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A number of brokerages have weighed in on TCRD. National Securities reaffirmed a “buy” rating and set a $12.00 target price on shares of THL Credit in a research note on Monday, August 7th. Zacks Investment Research raised shares of THL Credit from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 11th. Jefferies Group LLC reaffirmed a “hold” rating and set a $10.00 target price on shares of THL Credit in a research note on Friday, July 14th. Deutsche Bank AG downgraded shares of THL Credit from a “buy” rating to a “hold” rating and set a $10.50 target price for the company. in a research note on Tuesday, August 8th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of THL Credit in a research note on Wednesday, May 10th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.00.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ares Management LLC raised its position in THL Credit by 4.2% in the first quarter. Ares Management LLC now owns 1,060,152 shares of the investment management company’s stock valued at $10,559,000 after buying an additional 42,701 shares during the period. PVG Asset Management Corp purchased a new position in THL Credit during the first quarter valued at approximately $1,174,000. Mackenzie Financial Corp raised its position in THL Credit by 75.2% in the first quarter. Mackenzie Financial Corp now owns 55,939 shares of the investment management company’s stock valued at $557,000 after buying an additional 24,003 shares during the period. Stifel Financial Corp purchased a new position in THL Credit during the first quarter valued at approximately $130,000. Finally, BB&T Securities LLC raised its position in THL Credit by 19.7% in the second quarter. BB&T Securities LLC now owns 220,732 shares of the investment management company’s stock valued at $2,196,000 after buying an additional 36,265 shares during the period. Hedge funds and other institutional investors own 45.53% 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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