Fort Washington Investment Advisors Inc. OH bought a new stake in THL Credit, Inc. (NASDAQ:TCRD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 103,734 shares of the investment management company’s stock, valued at approximately $1,032,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Private Advisor Group LLC grew its holdings in THL Credit by 1.7% in the 2nd quarter. Private Advisor Group LLC now owns 49,751 shares of the investment management company’s stock valued at $495,000 after buying an additional 850 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of THL Credit by 19.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 21,117 shares of the investment management company’s stock worth $210,000 after purchasing an additional 3,388 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of THL Credit by 5.9% during the 1st quarter. Legal & General Group Plc now owns 75,969 shares of the investment management company’s stock worth $756,000 after purchasing an additional 4,263 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of THL Credit during the 2nd quarter worth approximately $105,000. Finally, Oxford Asset Management acquired a new stake in shares of THL Credit during the 1st quarter worth approximately $110,000. 45.59% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $10.50 price objective on shares of THL Credit in a report on Wednesday, August 16th. TheStreet raised THL Credit from a “c+” rating to a “b-” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “hold” rating and set a $10.00 price objective on shares of THL Credit in a report on Friday, July 14th. National Securities reissued a “buy” rating and set a $12.00 price objective on shares of THL Credit in a report on Monday, August 7th. Finally, Deutsche Bank AG lowered THL Credit from a “buy” rating to a “hold” rating and set a $10.50 price objective on the stock. in a report on Tuesday, August 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. THL Credit has an average rating of “Hold” and a consensus price target of $11.00.
Shares of THL Credit, Inc. (NASDAQ TCRD) opened at 9.10 on Friday. The stock’s 50 day moving average price is $9.54 and its 200 day moving average price is $9.83. 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 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 return on equity of 10.22% and a net margin of 29.81%. The company had revenue of $20.28 million for the quarter, compared to the consensus estimate of $20.35 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts anticipate that THL Credit, Inc. will post $1.14 earnings per share for the current year.
The company 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 $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 11.87%. The ex-dividend date of this dividend is Thursday, September 14th. THL Credit’s payout ratio is 145.95%.
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THL Credit Profile
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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