Bramshill Investments LLC bought a new stake in shares of THL Credit, Inc. (NASDAQ:TCRD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 56,885 shares of the investment management company’s stock, valued at approximately $515,000. Bramshill Investments LLC owned 0.17% of THL Credit at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in TCRD. Macquarie Group Ltd. purchased a new position in THL Credit during the 3rd quarter valued at about $104,000. First Allied Advisory Services Inc. purchased a new position in THL Credit during the 4th quarter valued at about $105,000. Two Sigma Securities LLC purchased a new position in THL Credit during the 4th quarter valued at about $146,000. Janney Montgomery Scott LLC purchased a new position in THL Credit during the 3rd quarter valued at about $163,000. Finally, Globeflex Capital L P purchased a new position in THL Credit during the 4th quarter valued at about $484,000. Institutional investors own 43.80% of the company’s stock.
A number of equities analysts recently commented on TCRD shares. BidaskClub upgraded THL Credit from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. ValuEngine cut THL Credit from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. National Securities cut THL Credit from a “buy” rating to a “neutral” rating and lowered their target price for the company from $11.00 to $10.00 in a report on Thursday, March 8th. Keefe, Bruyette & Woods set a $9.00 target price on THL Credit and gave the company a “hold” rating in a report on Wednesday, March 7th. Finally, Maxim Group cut THL Credit from a “buy” rating to a “hold” rating in a report on Thursday, March 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.88.
In other THL Credit news, insider James R. Fellows bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was purchased at an average price of $8.29 per share, for a total transaction of $124,350.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sam W. Tillinghast sold 37,339 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $8.28, for a total value of $309,166.92. Following the sale, the chief executive officer now owns 90,365 shares of the company’s stock, valued at approximately $748,222.20. The disclosure for this sale can be found here. Insiders bought a total of 17,751 shares of company stock valued at $146,951 in the last quarter. Company insiders own 9.39% of the company’s stock.
THL Credit, Inc. (NASDAQ:TCRD) opened at $8.14 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $265.96, a PE ratio of -33.92, a PEG ratio of 7.06 and a beta of 1.03. THL Credit, Inc. has a 52 week low of $8.01 and a 52 week high of $10.25.
THL Credit (NASDAQ:TCRD) last announced its quarterly earnings data on Tuesday, March 6th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.04). The company had revenue of $18.58 million during the quarter, compared to analysts’ expectations of $19.58 million. THL Credit had a negative net margin of 10.04% and a positive return on equity of 10.74%. sell-side analysts expect that THL Credit, Inc. will post 1.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 20th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 13.27%. The ex-dividend date is Monday, March 19th. THL Credit’s payout ratio is presently -450.00%.
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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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