Legal & General Group Plc boosted its position in THL Credit, Inc. (NASDAQ:TCRD) by 5.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,969 shares of the investment management company’s stock after buying an additional 4,263 shares during the period. Legal & General Group Plc owned 0.23% of THL Credit worth $756,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TCRD. Oxford Asset Management bought a new position in THL Credit during the first quarter worth $110,000. Stifel Financial Corp bought a new position in THL Credit during the first quarter worth $130,000. Founders Financial Securities LLC bought a new position in THL Credit during the first quarter worth $135,000. Nine Chapters Capital Management LLC bought a new position in THL Credit during the first quarter worth $176,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in THL Credit by 19.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,117 shares of the investment management company’s stock worth $210,000 after buying an additional 3,388 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.
THL Credit, Inc. (NASDAQ TCRD) opened at 9.40 on Friday. THL Credit, Inc. has a one year low of $8.75 and a one year high of $10.60. The firm has a 50-day moving average price of $9.94 and a 200 day moving average price of $9.98.
THL Credit (NASDAQ:TCRD) last announced its earnings results on Thursday, August 3rd. The investment management company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $20.28 million for the quarter, compared to analysts’ expectations of $20.35 million. THL Credit had a net margin of 29.81% and a return on equity of 10.22%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. On average, equities research analysts predict that THL Credit, Inc. will post $1.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 11.49%. The ex-dividend date is Thursday, September 14th. THL Credit’s dividend payout ratio is 145.95%.
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A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods set a $11.00 price target on THL Credit and gave the company a “hold” rating in a research note on Saturday, May 13th. Zacks Investment Research raised THL Credit from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 11th. Deutsche Bank AG cut THL Credit from a “buy” rating to a “hold” rating and set a $10.50 price objective for the company. in a research report on Tuesday, August 8th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of THL Credit in a research report on Wednesday, May 10th. Finally, Citigroup Inc. reissued a “market perform” rating on shares of THL Credit in a report on Wednesday, May 10th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $11.00.
In other THL Credit news, CEO Sam W. Tillinghast bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were purchased at an average cost of $10.01 per share, for a total transaction of $50,050.00. Following the transaction, the chief executive officer now owns 127,704 shares of the company’s stock, valued at $1,278,317.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is currently owned by corporate insiders.
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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