Legal & General Group Plc increased its holdings in shares of THL Credit, Inc. (NASDAQ:TCRD) by 11.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,569 shares of the investment management company’s stock after buying an additional 9,414 shares during the period. Legal & General Group Plc owned about 0.29% of THL Credit worth $873,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in TCRD. OxFORD Asset Management LLP increased its stake in THL Credit by 1,142.1% during the 2nd quarter. OxFORD Asset Management LLP now owns 137,442 shares of the investment management company’s stock worth $1,368,000 after buying an additional 126,377 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new stake in THL Credit during the 2nd quarter worth approximately $1,032,000. LSV Asset Management purchased a new stake in THL Credit during the 2nd quarter worth approximately $779,000. Goldman Sachs Group Inc. increased its stake in THL Credit by 120.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 72,908 shares of the investment management company’s stock worth $725,000 after buying an additional 39,895 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in THL Credit during the 2nd quarter worth approximately $390,000. 43.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of THL Credit, Inc. (NASDAQ:TCRD) opened at $9.19 on Thursday. THL Credit, Inc. has a 52-week low of $8.90 and a 52-week high of $10.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market cap of $300.27, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 8.33 and a beta of 1.11.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 11.75%. The ex-dividend date was Thursday, December 14th. THL Credit’s payout ratio is 192.86%.
A number of equities research analysts have commented on TCRD shares. ValuEngine raised shares of THL Credit from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Maxim Group reissued a “buy” rating and issued a $11.50 price objective on shares of THL Credit in a research report on Friday, November 10th. National Securities dropped their price objective on shares of THL Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, November 13th. TheStreet downgraded shares of THL Credit from a “b-” rating to a “c+” rating in a research report on Monday, October 9th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $10.50 price objective on shares of THL Credit in a research report on Monday, October 16th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. THL Credit has a consensus rating of “Hold” and an average target price of $10.70.
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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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