THL Credit, Inc. (NASDAQ:TCRD) Sees Significant Increase in Short Interest

THL Credit, Inc. (NASDAQ:TCRD) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 168,900 shares, an increase of 14.4% from the September 30th total of 147,700 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 71,300 shares, the days-to-cover ratio is currently 2.4 days.

TCRD has been the topic of several research reports. Maxim Group reaffirmed a “hold” rating on shares of THL Credit in a research report on Wednesday, November 6th. ValuEngine raised THL Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Zacks Investment Research raised THL Credit from a “sell” rating to a “hold” rating in a research report on Saturday. Five analysts have rated the stock with a hold rating, THL Credit has an average rating of “Hold” and an average price target of $7.38.

Institutional investors have recently bought and sold shares of the business. Gilman Hill Asset Management LLC bought a new stake in THL Credit during the 2nd quarter valued at approximately $83,000. JPMorgan Chase & Co. lifted its holdings in shares of THL Credit by 18.5% during the second quarter. JPMorgan Chase & Co. now owns 23,443 shares of the investment management company’s stock valued at $156,000 after purchasing an additional 3,668 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of THL Credit by 14.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,220 shares of the investment management company’s stock valued at $174,000 after purchasing an additional 3,300 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of THL Credit by 6.9% during the second quarter. Wedbush Securities Inc. now owns 36,165 shares of the investment management company’s stock valued at $240,000 after purchasing an additional 2,325 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of THL Credit by 7.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 51,431 shares of the investment management company’s stock valued at $342,000 after purchasing an additional 3,575 shares during the last quarter. 48.63% of the stock is currently owned by institutional investors and hedge funds.

THL Credit stock opened at $6.85 on Wednesday. The stock’s 50 day simple moving average is $6.84 and its two-hundred day simple moving average is $6.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $208.67 million, a price-to-earnings ratio of 6.40 and a beta of 1.03. THL Credit has a fifty-two week low of $5.80 and a fifty-two week high of $7.43.

THL Credit (NASDAQ:TCRD) last posted its quarterly earnings data on Monday, November 4th. The investment management company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $12.79 million for the quarter, compared to the consensus estimate of $13.51 million. THL Credit had a negative net margin of 55.49% and a positive return on equity of 10.76%. On average, analysts predict that THL Credit will post 0.92 earnings per share for the current year.

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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