Skandinaviska Enskilda Banken AB publ lowered its holdings in THL Credit, Inc. (NASDAQ:TCRD) by 15.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 988,984 shares of the investment management company’s stock after selling 182,645 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 2.80% of THL Credit worth $2,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TCRD. Fiera Capital Corp grew its holdings in THL Credit by 19.1% during the 1st quarter. Fiera Capital Corp now owns 1,937,981 shares of the investment management company’s stock worth $5,136,000 after acquiring an additional 311,298 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in THL Credit by 30.9% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 604,527 shares of the investment management company’s stock worth $1,602,000 after purchasing an additional 142,618 shares in the last quarter. Stilwell Value LLC raised its stake in THL Credit by 17.3% during the fourth quarter. Stilwell Value LLC now owns 657,851 shares of the investment management company’s stock valued at $4,151,000 after buying an additional 97,212 shares in the last quarter. West Family Investments Inc. lifted its holdings in THL Credit by 9.5% during the 1st quarter. West Family Investments Inc. now owns 987,383 shares of the investment management company’s stock worth $2,617,000 after buying an additional 85,620 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in THL Credit by 8.2% during the 4th quarter. LSV Asset Management now owns 1,018,613 shares of the investment management company’s stock worth $6,427,000 after buying an additional 77,256 shares during the last quarter. Hedge funds and other institutional investors own 36.10% of the company’s stock.

In other THL Credit news, CEO Christopher J. Flynn sold 30,600 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $2.97, for a total value of $90,882.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

Several equities analysts recently issued reports on TCRD shares. ValuEngine upgraded THL Credit from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 15th. Zacks Investment Research upgraded shares of THL Credit from a “sell” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Deutsche Bank lowered their price objective on shares of THL Credit from $6.00 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, May 12th.

NASDAQ:TCRD opened at $3.23 on Tuesday. The firm has a market capitalization of $114.01 million, a P/E ratio of 4.31 and a beta of 1.51. The business has a 50 day simple moving average of $3.00 and a 200 day simple moving average of $4.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.31 and a quick ratio of 0.31. THL Credit, Inc. has a 12-month low of $1.56 and a 12-month high of $7.04.

THL Credit (NASDAQ:TCRD) last posted its earnings results on Thursday, May 7th. The investment management company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The company had revenue of $7.89 million during the quarter, compared to the consensus estimate of $9.72 million. THL Credit had a negative net margin of 197.03% and a positive return on equity of 10.28%. Research analysts anticipate that THL Credit, Inc. will post 0.39 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 12.38%. The ex-dividend date is Friday, June 12th. THL Credit’s payout ratio is 45.98%.

THL Credit 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.

Further Reading: Net Margin – Understanding the Different Kinds of Profit

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Institutional Ownership by Quarter for THL Credit (NASDAQ:TCRD)

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