THL Credit (TCRD) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Aug 5, 2016.
Many Wall Street Analysts have commented on THL Credit. Janney Initiated THL Credit on Jun 17, 2016 to “Neutral”, Price Target of the shares are set at $12.THL Credit was Downgraded by JMP Securities to ” Mkt Perform” on Jun 2, 2016. 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 .
On the company’s financial health, THL Credit reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.34. The company had revenue of $20.50 million for the quarter, compared to analysts expectations of $23.09 million. The company’s revenue was down -13.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.35 EPS.
THL Credit closed down -0.02 points or -0.17% at $11.78 with 67,130 shares getting traded on Thursday. Post opening the session at $11.83, the shares hit an intraday low of $11.75 and an intraday high of $11.84 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
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).