THL Credit, Inc. (NASDAQ:TCRD) Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC lessened its position in THL Credit, Inc. (NASDAQ:TCRD) by 21.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,423 shares of the investment management company’s stock after selling 4,467 shares during the period. Sound Income Strategies LLC owned about 0.05% of THL Credit worth $112,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TCRD. Wedbush Securities Inc. grew 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 purchasing an additional 2,325 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew 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 purchasing an additional 3,300 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its holdings 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 valued at $342,000 after purchasing an additional 3,575 shares during the period. JPMorgan Chase & Co. grew 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 purchasing an additional 3,668 shares during the period. Finally, Morgan Stanley grew its holdings in THL Credit by 11.9% in the second quarter. Morgan Stanley now owns 78,871 shares of the investment management company’s stock valued at $523,000 after purchasing an additional 8,408 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

TCRD traded up $0.12 during trading on Friday, hitting $6.62. 6,427 shares of the company’s stock were exchanged, compared to its average volume of 90,127. 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, Inc. has a 1 year low of $5.80 and a 1 year high of $8.12. The stock has a 50 day moving average price of $6.73 and a 200 day moving average price of $6.67. The firm has a market cap of $202.89 million, a P/E ratio of 6.10 and a beta of 1.03.

THL Credit (NASDAQ:TCRD) last released its quarterly earnings data on Thursday, August 8th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05. THL Credit had a negative net margin of 45.45% and a positive return on equity of 10.65%. The company had revenue of $15.36 million during the quarter, compared to the consensus estimate of $14.24 million. Analysts forecast that THL Credit, Inc. will post 0.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 12.69%. THL Credit’s dividend payout ratio is currently 78.50%.

A number of equities research analysts recently issued reports on TCRD shares. ValuEngine upgraded shares of THL Credit from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Zacks Investment Research upgraded shares of THL Credit from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $7.00.

THL Credit Company 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.

Read More: What does an equal weight rating mean?

Institutional Ownership by Quarter for THL Credit (NASDAQ:TCRD)

Receive News & Ratings for THL Credit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for THL Credit and related companies with MarketBeat.com's FREE daily email newsletter.