West Family Investments Inc. Acquires 54,069 Shares of THL Credit, Inc. (TCRD)
West Family Investments Inc. raised its holdings in THL Credit, Inc. (NASDAQ:TCRD) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 729,374 shares of the investment management company’s stock after acquiring an additional 54,069 shares during the quarter. THL Credit comprises 1.4% of West Family Investments Inc.’s portfolio, making the stock its 23rd largest position. West Family Investments Inc. owned approximately 2.23% of THL Credit worth $5,704,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in TCRD. BlackRock Inc. increased its position in THL Credit by 4.2% during the fourth quarter. BlackRock Inc. now owns 199,397 shares of the investment management company’s stock worth $1,805,000 after buying an additional 8,099 shares during the last quarter. Geode Capital Management LLC boosted its holdings in THL Credit by 31.6% during the fourth quarter. Geode Capital Management LLC now owns 93,669 shares of the investment management company’s stock valued at $847,000 after acquiring an additional 22,488 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of THL Credit by 31.5% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 244,234 shares of the investment management company’s stock valued at $1,898,000 after buying an additional 58,500 shares during the period. Trexquant Investment LP lifted its stake in shares of THL Credit by 119.4% in the first quarter. Trexquant Investment LP now owns 23,416 shares of the investment management company’s stock valued at $182,000 after buying an additional 12,745 shares during the period. Finally, LSV Asset Management raised its position in THL Credit by 10.6% in the first quarter. LSV Asset Management now owns 758,293 shares of the investment management company’s stock worth $5,891,000 after purchasing an additional 72,851 shares in the last quarter. 40.24% of the stock is currently owned by hedge funds and other institutional investors.
In other THL Credit news, CFO Terrence W. Olson purchased 18,431 shares of the firm’s stock in a transaction on Wednesday, June 20th. The stock was purchased at an average cost of $7.99 per share, for a total transaction of $147,263.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Terrence W. Olson purchased 13,518 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was acquired at an average price of $8.23 per share, with a total value of $111,253.14. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 294,957 shares of company stock valued at $2,364,345. 0.46% of the stock is owned by corporate insiders.
THL Credit (NASDAQ:TCRD) last posted its quarterly earnings data on Wednesday, August 8th. The investment management company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. THL Credit had a negative net margin of 8.89% and a positive return on equity of 11.15%. The firm had revenue of $18.36 million during the quarter, compared to the consensus estimate of $16.92 million. sell-side analysts forecast that THL Credit, Inc. will post 1.15 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.93%. The ex-dividend date of this dividend is Thursday, September 13th. THL Credit’s dividend payout ratio (DPR) is presently 89.26%.
Several research firms have recently weighed in on TCRD. ValuEngine raised shares of THL Credit from a “strong sell” rating to a “sell” rating in a report on Saturday, September 1st. BidaskClub raised shares of THL Credit from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research raised shares of THL Credit from a “sell” rating to a “hold” rating in a research report on Thursday, June 14th. Finally, National Securities reiterated a “neutral” rating and issued a $10.00 price target on shares of THL Credit in a research note on Tuesday, August 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $9.85.
THL Credit Profile
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. Its objective is to generate both current income and capital appreciation, through investments in privately negotiated debt and equity securities of lower middle market companies. The company was founded on May 26, 2009 and is headquartered in Boston, MA.
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