THL Credit (TCRD) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.40 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.35. The company posted revenue of $22.57 million in the period, compared to analysts expectations of $23.48 million. The company’s revenue was down -5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.
Many Wall Street Analysts have commented on THL Credit. THL Credit was Upgraded by Wells Fargo to ” Outperform” on Apr 4, 2016. Shares were Reiterated by Deutsche Bank on Mar 15, 2016 to “Buy” and Lowered the Price Target to $ 12.50 from a previous price target of $14.50 .THL Credit was Upgraded by Keefe Bruyette to ” Outperform” on Feb 19, 2016.
THL Credit opened for trading at $11.27 and hit $11.33 on the upside on Wednesday, eventually ending the session at $11.31, with a gain of 0.09% or 0.01 points. The heightened volatility saw the trading volume jump to 40,499 shares. Company has a market cap of $377 M.
In a different news, on Mar 17, 2016, Christopher J. Flynn (CEO) purchased 900 shares at $10.21 per share price. According to the SEC, on Mar 17, 2016, Terrence W. Olson (CFO) purchased 1,000 shares at $10.27 per share price. On Mar 17, 2016, Sabrina Rusnak-carlson (General Counsel & Secretary) purchased 2,400 shares at $10.42 per share price, according to the Form-4 filing with the securities and exchange commission.
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 middle market companies. The Company is a direct lender to middle-market companies and invests in first lien and second lien loans including through unitranche investments as well as subordinated debt which may include an associated equity component such as warrants preferred stock or similar securities. The Company also makes direct equity investments. The security types in which the Company invests includes First Lien Senior Secured Loans Second Lien Loans Mezzanine Loans Collateralized Loan Obligations (CLO) Residual Interests and THL Credit Logan JV LLC (Logan JV).