ValuEngine Lowers THL Credit (TCRD) to Strong Sell

THL Credit (NASDAQ:TCRD) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Thursday.

Other analysts have also recently issued reports about the company. BidaskClub upgraded THL Credit from a “hold” rating to a “buy” rating in a report on Saturday, September 15th. Zacks Investment Research upgraded THL Credit from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a report on Tuesday, August 14th. Finally, National Securities restated a “neutral” rating and issued a $10.00 target price on shares of THL Credit in a report on Tuesday, August 14th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.85.

Shares of TCRD traded down $0.01 during trading hours on Thursday, hitting $7.69. 89,400 shares of the stock were exchanged, compared to its average volume of 127,424. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.29 and a current ratio of 0.29. THL Credit has a 12-month low of $7.60 and a 12-month high of $9.67. The stock has a market capitalization of $251.59 million, a price-to-earnings ratio of 6.36 and a beta of 1.14.

THL Credit (NASDAQ:TCRD) last issued its quarterly earnings results on Wednesday, August 8th. The investment management company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. THL Credit had a positive return on equity of 11.15% and a negative net margin of 8.89%. The firm had revenue of $18.36 million during the quarter, compared to analysts’ expectations of $16.92 million. On average, analysts predict that THL Credit will post 1.15 earnings per share for the current year.

A number of large investors have recently modified their holdings of TCRD. Citadel Advisors LLC purchased a new stake in THL Credit in the 2nd quarter valued at $108,000. Dynamic Technology Lab Private Ltd purchased a new stake in THL Credit in the 1st quarter valued at $112,000. Jane Street Group LLC purchased a new stake in THL Credit in the 2nd quarter valued at $163,000. Legal & General Group Plc grew its holdings in shares of THL Credit by 17.9% during the 1st quarter. Legal & General Group Plc now owns 118,856 shares of the investment management company’s stock worth $924,000 after purchasing an additional 18,060 shares during the period. Finally, Cliffwater LLC grew its holdings in shares of THL Credit by 14.0% during the 2nd quarter. Cliffwater LLC now owns 145,424 shares of the investment management company’s stock worth $1,137,000 after purchasing an additional 17,846 shares during the period. Institutional investors own 40.18% of the company’s stock.

THL Credit Company Profile

THL Credit, Inc is a business development company specializing in direct and fund of fund investments. The fund seeks to invest in debt and equity securities of middle market companies. It seeks to invest in PIPES, growth, acquisition, market or product expansion, recapitalization, mature, and change of control transactions in both sponsored and unsponsored issuers.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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