Advisory Research Inc. reduced its stake in shares of THL Credit, Inc. (NASDAQ:TCRD) by 51.6% during the 4th quarter, Holdings Channel reports. The fund owned 123,927 shares of the investment management company’s stock after selling 132,139 shares during the period. Advisory Research Inc.’s holdings in THL Credit were worth $1,122,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of TCRD. Macquarie Group Ltd. bought a new stake in THL Credit during the third quarter worth approximately $104,000. JPMorgan Chase & Co. bought a new stake in THL Credit during the second quarter worth approximately $105,000. Cetera Investment Advisers bought a new stake in THL Credit during the second quarter worth approximately $136,000. Janney Montgomery Scott LLC bought a new stake in THL Credit during the third quarter worth approximately $163,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in THL Credit during the second quarter worth approximately $390,000. 43.28% of the stock is currently owned by institutional investors.
TCRD has been the topic of several analyst reports. ValuEngine raised THL Credit from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Maxim Group restated a “buy” rating and set a $11.50 target price on shares of THL Credit in a research report on Friday, November 10th. National Securities dropped their target price on THL Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, November 13th. Finally, BidaskClub upgraded THL Credit from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. THL Credit has an average rating of “Hold” and a consensus price target of $10.70.
THL Credit, Inc. (NASDAQ TCRD) opened at $8.43 on Friday. THL Credit, Inc. has a 12-month low of $8.16 and a 12-month high of $10.60. The stock has a market capitalization of $275.11, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 7.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.20 and a current ratio of 0.20.
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THL Credit Company 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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