Maxim Group downgraded shares of THL Credit (NASDAQ:TCRD) from a buy rating to a hold rating in a research note released on Thursday, MarketBeat Ratings reports.
Other equities research analysts have also recently issued reports about the company. ValuEngine cut THL Credit from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. National Securities decreased their price target on THL Credit from $12.00 to $11.00 and set a buy rating for the company in a research note on Monday, November 13th. Keefe, Bruyette & Woods set a $9.00 price target on THL Credit and gave the company a hold rating in a research note on Wednesday. Finally, BidaskClub upgraded THL Credit from a sell rating to a hold rating in a research note on Tuesday, February 13th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $10.00.
THL Credit (TCRD) traded up $0.02 during trading on Thursday, reaching $8.30. The company’s stock had a trading volume of 257,359 shares, compared to its average volume of 115,762. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.20 and a current ratio of 0.16. THL Credit has a 52 week low of $8.01 and a 52 week high of $10.36. The stock has a market capitalization of $271.19, a PE ratio of 6.86, a PEG ratio of 7.36 and a beta of 1.03.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 20th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 13.01%. The ex-dividend date of this dividend is Monday, March 19th. THL Credit’s dividend payout ratio is presently -449.98%.
Several hedge funds have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of THL Credit by 2.4% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,419,629 shares of the investment management company’s stock valued at $13,245,000 after purchasing an additional 33,708 shares during the period. LSV Asset Management increased its holdings in shares of THL Credit by 17.6% in the fourth quarter. LSV Asset Management now owns 685,442 shares of the investment management company’s stock valued at $6,203,000 after purchasing an additional 102,498 shares during the period. West Family Investments Inc. increased 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 valued at $5,657,000 after purchasing an additional 11,000 shares during the period. Millennium Management LLC increased its holdings in shares of THL Credit by 303.3% in the fourth quarter. Millennium Management LLC now owns 527,015 shares of the investment management company’s stock valued at $4,769,000 after purchasing an additional 396,355 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of THL Credit by 303.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 234,654 shares of the investment management company’s stock valued at $2,124,000 after purchasing an additional 176,454 shares during the period. 43.80% of the stock is currently owned by institutional investors and hedge funds.
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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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