Sigma Planning Corp Increases Position in THL Credit Inc. (TCRD)
Sigma Planning Corp increased its stake in shares of THL Credit Inc. (NASDAQ:TCRD) by 115.7% during the second quarter, Holdings Channel reports. The fund owned 24,737 shares of the investment management company’s stock after buying an additional 13,271 shares during the period. Sigma Planning Corp’s holdings in THL Credit were worth $275,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. National Planning Corp boosted its position in shares of 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 in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of THL Credit during the first quarter worth approximately $210,000. Omega Advisors Inc. boosted its position in shares of 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 in the last quarter. BB&T Securities LLC boosted its position in shares of THL Credit by 244.7% in the first quarter. BB&T Securities LLC now owns 35,886 shares of the investment management company’s stock worth $388,000 after buying an additional 25,475 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of THL Credit by 27.8% in the first quarter. Legal & General Group Plc now owns 65,485 shares of the investment management company’s stock worth $710,000 after buying an additional 14,251 shares in the last quarter. Hedge funds and other institutional investors own 42.17% of the company’s stock.
THL Credit Inc. (NASDAQ:TCRD) traded up 1.14% during mid-day trading on Friday, reaching $9.73. 835,594 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $10.56 and a 200-day moving average of $10.81. THL Credit Inc. has a 12 month low of $8.58 and a 12 month high of $12.22.
THL Credit (NASDAQ:TCRD) last posted its quarterly earnings data on Thursday, August 4th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The firm 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%. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. Equities research analysts anticipate that THL Credit Inc. will post $1.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.98%. The ex-dividend date is Tuesday, September 13th. THL Credit’s dividend payout ratio (DPR) is presently -2,266.29%.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of THL Credit from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. JMP Securities cut shares of THL Credit from a “mkt outperform” rating to a “market perform” rating in a research note on Thursday, June 2nd. Deutsche Bank AG cut their price target 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. Janney Montgomery Scott assumed coverage on shares of THL Credit in a research note on Friday, June 17th. They set a “neutral” rating and a $12.00 price target for the company. Finally, TheStreet upgraded shares of THL Credit from a “hold” rating to a “buy” rating in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $11.95.
About THL Credit
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.
Want to see what other hedge funds are holding TCRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for THL Credit Inc. (NASDAQ:TCRD).
Receive News & Ratings for THL Credit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for THL Credit Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.