THL Credit, Inc. (NASDAQ:TCRD) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 245,400 shares, a growth of 27.2% from the May 30th total of 192,900 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 88,100 shares, the days-to-cover ratio is presently 2.8 days.
TCRD has been the topic of several analyst reports. Zacks Investment Research downgraded Farmland Partners from a “hold” rating to a “sell” rating in a report on Friday. National Securities restated a “sell” rating and set a $4.00 price objective on shares of Prospect Capital in a report on Monday, May 13th. Finally, ValuEngine downgraded Xylem from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $8.13.
Several hedge funds and other institutional investors have recently modified their holdings of TCRD. Two Sigma Investments LP boosted its position in THL Credit by 33.4% during the 4th quarter. Two Sigma Investments LP now owns 227,169 shares of the investment management company’s stock valued at $1,381,000 after purchasing an additional 56,898 shares during the period. B. Riley Wealth Management Inc. acquired a new position in THL Credit during the 4th quarter valued at approximately $128,000. Two Sigma Advisers LP boosted its position in THL Credit by 27.2% during the 4th quarter. Two Sigma Advisers LP now owns 213,342 shares of the investment management company’s stock valued at $1,297,000 after purchasing an additional 45,600 shares during the period. Legal & General Group Plc boosted its position in THL Credit by 15.3% during the 4th quarter. Legal & General Group Plc now owns 141,895 shares of the investment management company’s stock valued at $863,000 after purchasing an additional 18,815 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in THL Credit by 51.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,481 shares of the investment management company’s stock valued at $270,000 after purchasing an additional 15,045 shares during the period. Institutional investors and hedge funds own 45.84% of the company’s stock.
THL Credit (NASDAQ:TCRD) last posted its quarterly earnings data on Thursday, May 9th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). THL Credit had a positive return on equity of 10.48% and a negative net margin of 25.94%. The business had revenue of $14.19 million for the quarter, compared to analysts’ expectations of $15.19 million. On average, sell-side analysts forecast that THL Credit will post 0.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 12.67%. THL Credit’s dividend payout ratio (DPR) is 78.50%.
THL Credit Company 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.
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