THL Credit Inc. (NASDAQ:TCRD) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “THL Credit Inc. is a newly-organized, externally-managed, non-diversified closed-end management investment company that has filed an election to be treated as a business development 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 middle market companies. The Company invests primarily in private subordinated debt, or mezzanine debt, in middle market companies that require capital for growth and acquisitions. Such investments in many cases include an associated equity component such as warrants, preferred stock or other similar securities. The Company’s investment activities are managed by its investment adviser, THL Credit Advisors LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended. “

Other equities research analysts also recently issued reports about the stock. TheStreet upgraded shares of THL Credit from a “hold” rating to a “buy” rating in a research note on Monday, July 11th. Deutsche Bank AG lowered their target price on shares of THL Credit from $12.25 to $12.00 and set a “buy” rating for the company in a research note on Thursday, August 11th. Jefferies Group restated a “hold” rating on shares of THL Credit in a research note on Friday, August 12th. Keefe, Bruyette & Woods cut shares of THL Credit from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $12.50 to $11.50 in a report on Monday, August 8th. Finally, Wells Fargo & Co. cut shares of THL Credit from an “outperform” rating to a “market perform” rating in a report on Friday, August 5th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. THL Credit presently has an average rating of “Hold” and a consensus target price of $11.80.

Analyst Recommendations for THL Credit (NASDAQ:TCRD)

Shares of THL Credit (NASDAQ:TCRD) traded down 0.21% during trading on Tuesday, reaching $9.50. The company’s stock had a trading volume of 22,658 shares. THL Credit has a one year low of $8.58 and a one year high of $12.22. The firm’s 50-day moving average price is $9.83 and its 200-day moving average price is $10.68.

THL Credit (NASDAQ:TCRD) last announced its earnings results on Thursday, August 4th. The investment management company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company earned $20.50 million during the quarter, compared to the consensus estimate of $23.06 million. THL Credit had a negative net margin of 2.30% and a positive return on equity of 11.80%. THL Credit’s revenue was down 13.9% compared to the same quarter last year. During the same period last year, the firm earned $0.35 earnings per share. Analysts anticipate that THL Credit will post $1.41 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.36 annualized dividend and a dividend yield of 14.29%. THL Credit’s dividend payout ratio (DPR) is presently -2,266.29%.

Several hedge funds and other institutional investors have recently modified their holdings of TCRD. WFG Advisors LP boosted its position in shares of THL Credit by 1.6% in the second quarter. WFG Advisors LP now owns 16,662 shares of the investment management company’s stock valued at $185,000 after buying an additional 263 shares during the period. BB&T Securities LLC boosted its position in THL Credit by 3.7% in the second quarter. BB&T Securities LLC now owns 37,216 shares of the investment management company’s stock worth $414,000 after buying an additional 1,330 shares during the last quarter. Raymond James & Associates boosted its position in THL Credit by 13.1% in the second quarter. Raymond James & Associates now owns 13,650 shares of the investment management company’s stock worth $152,000 after buying an additional 1,585 shares during the last quarter. National Planning Corp boosted its position in THL Credit by 12.3% in the first quarter. National Planning Corp now owns 16,000 shares of the investment management company’s stock worth $169,000 after buying an additional 1,750 shares during the last quarter. Finally, Omega Advisors Inc. boosted its position in THL Credit by 8.4% in the first quarter. Omega Advisors Inc. now owns 32,516 shares of the investment management company’s stock worth $352,000 after buying an additional 2,516 shares during the last quarter. 42.17% of the stock is owned by hedge funds and other institutional investors.

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 middle market companies.

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