THL Credit, Inc. (NASDAQ:TCRD) Sees Large Drop in Short Interest

THL Credit, Inc. (NASDAQ:TCRD) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 129,200 shares, a decline of 23.5% from the September 30th total of 168,900 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 72,000 shares, the short-interest ratio is currently 1.8 days.

A number of large investors have recently modified their holdings of TCRD. Stilwell Value LLC lifted its position in THL Credit by 15.2% in the third quarter. Stilwell Value LLC now owns 560,639 shares of the investment management company’s stock worth $3,812,000 after buying an additional 74,027 shares during the last quarter. Shikiar Asset Management Inc. lifted its position in THL Credit by 11.3% in the third quarter. Shikiar Asset Management Inc. now owns 204,419 shares of the investment management company’s stock worth $1,390,000 after buying an additional 20,819 shares during the last quarter. Gilman Hill Asset Management LLC lifted its position in THL Credit by 20.0% in the third quarter. Gilman Hill Asset Management LLC now owns 15,000 shares of the investment management company’s stock worth $102,000 after buying an additional 2,500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in THL Credit by 7.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 51,431 shares of the investment management company’s stock worth $342,000 after buying an additional 3,575 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its position in THL Credit by 75.5% in the second quarter. Susquehanna International Group LLP now owns 66,485 shares of the investment management company’s stock worth $441,000 after buying an additional 28,600 shares during the last quarter. 48.63% of the stock is owned by institutional investors.

Several equities analysts recently commented on TCRD shares. Zacks Investment Research raised shares of THL Credit from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. ValuEngine raised shares of THL Credit from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Maxim Group reaffirmed a “hold” rating on shares of THL Credit in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus target price of $7.38.

Shares of NASDAQ:TCRD opened at $6.78 on Thursday. The company has a 50 day moving average of $6.84 and a 200 day moving average of $6.72. The stock has a market cap of $208.67 million, a P/E ratio of 6.34 and a beta of 1.03. THL Credit has a 12 month low of $5.80 and a 12 month high of $7.43. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

THL Credit (NASDAQ:TCRD) last issued its quarterly earnings data on Monday, November 4th. The investment management company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $12.79 million for the quarter, compared to analysts’ expectations of $13.51 million. THL Credit had a negative net margin of 55.49% and a positive return on equity of 10.76%. On average, equities analysts forecast that THL Credit will post 0.92 earnings per share for the current fiscal year.

About THL Credit

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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