Virtus ETF Advisers LLC bought a new stake in THL Credit, Inc. (NASDAQ:TCRD) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 284,576 shares of the investment management company’s stock, valued at approximately $1,890,000. Virtus ETF Advisers LLC owned approximately 0.89% of THL Credit at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of TCRD. Gilman Hill Asset Management LLC purchased a new position in THL Credit in the second quarter valued at about $83,000. JPMorgan Chase & Co. increased its holdings in THL Credit by 18.5% in the second quarter. JPMorgan Chase & Co. now owns 23,443 shares of the investment management company’s stock valued at $156,000 after buying an additional 3,668 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in THL Credit by 14.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,220 shares of the investment management company’s stock valued at $174,000 after buying an additional 3,300 shares in the last quarter. Bank of Montreal Can purchased a new position in THL Credit in the first quarter valued at about $216,000. Finally, Wedbush Securities Inc. increased its holdings in THL Credit by 6.9% in the second quarter. Wedbush Securities Inc. now owns 36,165 shares of the investment management company’s stock valued at $240,000 after buying an additional 2,325 shares in the last quarter. 48.55% of the stock is owned by institutional investors.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of THL Credit from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. ValuEngine upgraded shares of THL Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. THL Credit presently has an average rating of “Hold” and a consensus target price of $7.00.
Shares of TCRD stock traded down $0.18 during trading hours on Friday, hitting $6.78. The company’s stock had a trading volume of 5,812 shares, compared to its average volume of 66,218. The business has a fifty day moving average of $6.66 and a 200-day moving average of $6.68. The stock has a market cap of $211.28 million, a price-to-earnings ratio of 6.34 and a beta of 1.04. THL Credit, Inc. has a twelve month low of $5.80 and a twelve month high of $8.69. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.39.
THL Credit (NASDAQ:TCRD) last released its quarterly earnings results on Thursday, August 8th. The investment management company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05. The business had revenue of $15.36 million for the quarter, compared to analyst estimates of $14.24 million. THL Credit had a negative net margin of 45.45% and a positive return on equity of 10.65%. On average, equities analysts expect that THL Credit, Inc. will post 0.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.21 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 12.39%. THL Credit’s dividend payout ratio is presently 78.50%.
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.
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