ValuEngine upgraded shares of THL Credit (NASDAQ:TCRD) from a strong sell rating to a sell rating in a research note issued to investors on Saturday.

Several other research firms have also recently weighed in on TCRD. Zacks Investment Research raised shares of THL Credit from a sell rating to a hold rating in a research note on Thursday, June 14th. National Securities reaffirmed a neutral rating and set a $10.00 target price on shares of THL Credit in a research note on Tuesday, August 14th. Finally, BidaskClub raised shares of THL Credit from a sell rating to a hold rating in a research note on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $9.85.

TCRD opened at $8.56 on Friday. The firm has a market cap of $279.36 million, a P/E ratio of 7.07 and a beta of 1.14. THL Credit has a fifty-two week low of $7.70 and a fifty-two week high of $9.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.29.

THL Credit (NASDAQ:TCRD) last posted its earnings results on Wednesday, August 8th. The investment management company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The company had revenue of $18.36 million during the quarter, compared to analysts’ expectations of $16.92 million. THL Credit had a negative net margin of 8.89% and a positive return on equity of 11.15%. research analysts predict that THL Credit will post 1.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.62%. THL Credit’s payout ratio is currently 89.26%.

In other THL Credit news, CFO Terrence W. Olson acquired 13,518 shares of the company’s stock in a transaction on Monday, July 9th. The stock was acquired at an average cost of $8.23 per share, with a total value of $111,253.14. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Terrence W. Olson acquired 26,000 shares of the company’s stock in a transaction on Monday, June 11th. The stock was acquired at an average cost of $8.33 per share, with a total value of $216,580.00. The disclosure for this purchase can be found here. Insiders acquired a total of 376,674 shares of company stock valued at $3,032,724 over the last three months. Corporate insiders own 0.46% of the company’s stock.

Several large investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new position in shares of THL Credit in the 2nd quarter worth $163,000. Citadel Advisors LLC purchased a new position in shares of THL Credit in the 2nd quarter worth $108,000. West Family Investments Inc. grew its stake in shares of THL Credit by 8.0% in the 2nd quarter. West Family Investments Inc. now owns 729,374 shares of the investment management company’s stock worth $5,704,000 after buying an additional 54,069 shares in the last quarter. Cliffwater LLC grew its stake in shares of THL Credit by 14.0% in the 2nd quarter. Cliffwater LLC now owns 145,424 shares of the investment management company’s stock worth $1,137,000 after buying an additional 17,846 shares in the last quarter. Finally, Fiera Capital Corp grew its stake in shares of THL Credit by 2.5% in the 2nd quarter. Fiera Capital Corp now owns 717,358 shares of the investment management company’s stock worth $5,610,000 after buying an additional 17,235 shares in the last quarter. 40.24% of the stock is owned by institutional investors and hedge funds.

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 lower middle market companies.

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