THL Credit (TCRD) was Downgraded by JMP Securities to ” Mkt Perform”. Earlier the firm had a rating of “Mkt Outperform ” on the company shares. JMP Securities advised their investors in a research report released on Jun 2, 2016.
Many Wall Street Analysts have commented on THL Credit. Shares were Reiterated by Maxim Group on May 9, 2016 to “Buy” and Lowered the Price Target to $ 12.25 from a previous price target of $12.75 .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 .
On the company’s financial health, THL Credit reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.35. The company had revenue of $22.57 million for the quarter, 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.
THL Credit opened for trading at $11.05 and hit $11.07 on the upside on Wednesday, eventually ending the session at $11.04, with a gain of 0.45% or 0.05 points. The heightened volatility saw the trading volume jump to 66,822 shares. Company has a market cap of $367 M.
Investors should note that on May 5, 2016, THL Credit announced a cash dividend of $0.3400. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jun 30, 2016.
In a different news, on May 18, 2016, Christopher J. Flynn (CEO) purchased 2,000 shares at $10.66 per share price. According to the SEC, on May 18, 2016, James D. Kern (director) purchased 2,000 shares at $10.57 per share price. On May 18, 2016, Terrence W. Olson (CFO) purchased 1,000 shares at $10.63 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).