PVG Asset Management Corp trimmed its position in THL Credit, Inc. (NASDAQ:TCRD) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,745 shares of the investment management company’s stock after selling 12,019 shares during the period. PVG Asset Management Corp’s holdings in THL Credit were worth $676,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in THL Credit by 4.2% in the fourth quarter. BlackRock Inc. now owns 199,397 shares of the investment management company’s stock valued at $1,805,000 after acquiring an additional 8,099 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of THL Credit by 11.2% in the third quarter. Legal & General Group Plc now owns 93,569 shares of the investment management company’s stock worth $873,000 after buying an additional 9,414 shares during the last quarter. OxFORD Asset Management LLP raised its holdings in shares of THL Credit by 7.6% in the third quarter. OxFORD Asset Management LLP now owns 147,823 shares of the investment management company’s stock worth $1,361,000 after buying an additional 10,381 shares during the last quarter. West Family Investments Inc. raised its holdings in shares of THL Credit by 1.8% in the fourth quarter. West Family Investments Inc. now owns 623,713 shares of the investment management company’s stock worth $5,657,000 after buying an additional 11,000 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new position in shares of THL Credit in the third quarter worth $104,000. Institutional investors own 44.83% of the company’s stock.
In other news, insider James R. Fellows acquired 15,000 shares of the business’s stock in a transaction on Monday, March 12th. The stock was bought at an average price of $8.29 per share, with a total value of $124,350.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sam W. Tillinghast sold 40,365 shares of THL Credit stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $8.12, for a total transaction of $327,763.80. The disclosure for this sale can be found here. Insiders acquired 17,751 shares of company stock valued at $146,951 in the last ninety days. 9.39% of the stock is owned by corporate insiders.
THL Credit, Inc. (NASDAQ TCRD) opened at $7.90 on Tuesday. THL Credit, Inc. has a fifty-two week low of $7.80 and a fifty-two week high of $10.25. 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 firm has a market cap of $265.96, a price-to-earnings ratio of -32.92, a price-to-earnings-growth ratio of 7.01 and a beta of 1.03.
THL Credit (NASDAQ:TCRD) last released its quarterly earnings data on Tuesday, March 6th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04). THL Credit had a negative net margin of 10.04% and a positive return on equity of 10.74%. The firm had revenue of $18.58 million during the quarter, compared to analysts’ expectations of $19.58 million. equities research analysts expect that THL Credit, Inc. will post 1.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Tuesday, March 20th will be issued a $0.27 dividend. The ex-dividend date is Monday, March 19th. This represents a $1.08 dividend on an annualized basis and a yield of 13.67%. THL Credit’s payout ratio is -449.98%.
A number of research analysts have issued reports on the stock. ValuEngine cut shares of THL Credit from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub raised shares of THL Credit from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Maxim Group cut shares of THL Credit from a “buy” rating to a “hold” rating in a report on Thursday, March 8th. Keefe, Bruyette & Woods set a $9.00 price target on shares of THL Credit and gave the stock a “hold” rating in a report on Wednesday, March 7th. Finally, National Securities cut shares of THL Credit from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $10.00 in a report on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.88.
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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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