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. The fund does not intend to invest in start-up companies, operationally distressed situations, or companies with speculative business plans. The fund invests primarily in debt securities, including unsecured subordinated or mezzanine debt and second lien secured debt, which may include an associated equity component such as warrants, preferred stock, options to buy minority interest, and other similar securities. Its investments may also include high-yield bonds, private equity investments, securities of public companies that are broadly traded, and securities of non-United States companies. It seeks to invest in outsourced business services, healthcare, financials, retailing, media, and consumer discretionary. The fund may make direct equity investments, including equity investments into or through funds, and also selectively invest in syndicated first lien secured loans, including unitranche investments. It seeks to invest between $10 million and $25 million of capital per transaction in companies with annual revenues ranging from $25 million to $500 million and annual EBITDA between $5 million and $25 million. The fund prefers to be a lead or sole investor in a transaction.
Industry, Sector and Symbol
Industry Investors, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
Phone800-450-4424
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$66.94 million
Profitability
Miscellaneous
EmployeesN/A
Next Earnings Date8/14/2019 (Estimated)
OptionableOptionable
THL Credit (NASDAQ:TCRD) Frequently Asked Questions
What is THL Credit's stock symbol?
THL Credit trades on the NASDAQ under the ticker symbol "TCRD."
How often does THL Credit pay dividends? What is the dividend yield for THL Credit?
THL Credit declared a quarterly dividend on Friday, May 10th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.21 per share on Friday, June 28th. This represents a $0.84 annualized dividend and a yield of 12.56%. The ex-dividend date of this dividend is Thursday, June 13th. View THL Credit's Dividend History.
How were THL Credit's earnings last quarter?
THL Credit, Inc. (NASDAQ:TCRD) announced its earnings results on Thursday, May, 9th. The investment management company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by $0.03. The investment management company earned $14.19 million during the quarter, compared to analysts' expectations of $15.19 million. THL Credit had a negative net margin of 25.94% and a positive return on equity of 10.48%. View THL Credit's Earnings History.
When is THL Credit's next earnings date?
What price target have analysts set for TCRD?
2 analysts have issued 12 month price targets for THL Credit's shares. Their predictions range from $7.00 to $7.00. On average, they expect THL Credit's stock price to reach $7.00 in the next twelve months. This suggests a possible upside of 4.6% from the stock's current price. View Analyst Price Targets for THL Credit.
What is the consensus analysts' recommendation for THL Credit?
2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for THL Credit in the last year. There are currently 2 hold ratings for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for THL Credit.
What are Wall Street analysts saying about THL Credit stock?
Here are some recent quotes from research analysts about THL Credit stock:
- 1. National Securities analysts commented, "▪ TCRD posted NII/share of $0.21 for 1Q19, two cents short of our estimate but matching the quarterly dividend. There was a one-time cost associated with downsizing the credit facility that impacted earnings by approximately $0.01/share during the quarter.
▪ LAI was placed on non-accrual status during the quarter, bringing non-accruals at cost up to $68.2mm or 12.4% of the portfolio compared to $38.0mm or 7.0% of the portfolio Q/Q. LAI’s total exposure stood at $44.1 by cost with $29.8mm of that on non-accrual status. The company was written down to 54% of cost from 78% the quarter prior. THL extended the company an additional $10mm with the good news being the company is being sold. Given the significant and fast deterioration of the company, we model a sale below 3/31/19 marks that would be NAV-negative upon the completion of the sale and realization of the loss.
▪ As a result of LAI’s $12.8mm of depreciation during the quarter, NAV/share decreased to $8.96 from $9.15 Q/Q. We model NAV/share to decrease further to $8.52 at year-end 2019 before we expect steady improvement to end 2020 at $8.82.
▪ The external manager is waiving incentive fees earned through 2019, which supports the current quarterly dividend of $0.21/share. However, we expect that without these waivers in 2020 that the quarterly dividend will be cut to $0.17/share in 1Q20. The June shareholders meeting will have THL seeking to reduce asset coverage and lower fees further in two separate votes. However, even with a lower base fee and reduced asset coverage we think a dividend cut is inevitable in 2020, unless incentive fees continue to be waived.
▪ We are revising our 2019 NII/share estimate to $0.86 from $0.99 and our 2020 NII/share estimate to $0.75 from $0.86." (5/13/2019)
- 2. According to Zacks Investment Research, "THL Credit Inc. is a newly-organized, externally-managed, non-diversified closed-end management investment company that has filed an election to be treated as a business development 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 invests primarily in private subordinated debt, or mezzanine debt, in middle market companies that require capital for growth and acquisitions. Such investments in many cases include an associated equity component such as warrants, preferred stock or other similar securities. The Company's investment activities are managed by its investment adviser, THL Credit Advisors LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended. " (4/11/2019)
Has THL Credit been receiving favorable news coverage?
Media coverage about TCRD stock has been trending somewhat negative recently, according to InfoTrie. The research group rates the sentiment of media coverage by analyzing more than six thousand news and blog sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. THL Credit earned a daily sentiment score of -1.3 on InfoTrie's scale. They also assigned media headlines about the investment management company a news buzz of 4.0 out of 10, indicating that recent media coverage is somewhat unlikely to have an impact on the company's share price in the immediate future.
Who are some of THL Credit's key competitors?
Some companies that are related to THL Credit include Pennantpark Floating Rate Capital (PFLT), PennantPark Investment (PNNT), Capital Southwest (CSWC), Gladstone Investment (GAIN), Triplepoint Venture Growth BDC (TPVG), Stellus Capital Investment (SCM), Oaktree Strategic Income (OCSI), Safeguard Scientifics (SFE), Arlington Asset Investment (AI), OFS Capital (OFS), Garrison Capital (GARS), Portman Ridge Finance (PTMN), KCAP Financial (KCAP), CM Finance (CMFN) and Firsthand Technology Value Fund (SVVC).
What other stocks do shareholders of THL Credit own?
Who are THL Credit's key executives?
THL Credit's management team includes the folowing people:
- Mr. Christopher J. Flynn, CEO & Director (Age 46)
- Mr. Terrence William Olson, Assistant Sec., Treasurer, CFO & COO (Age 52)
- Ms. Sabrina Rusnak-Carlson, Gen. Counsel & Chief Compliance Officer
- Mr. Howard H. Wu, Co-Head of Direct Lending and Director (Age 40)
- Mr. Brian W. Good, Co-Head, Sr. Managing Director and Sr. Portfolio Mngr for Tradable Credit Platform
Who are THL Credit's major shareholders?
THL Credit's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include Fiera Capital Corp (4.93%), LSV Asset Management (3.00%), AJO LP (1.12%), Athena Capital Advisors LLC (0.93%), Personal Resources Investment & Strategic Management Inc. (0.53%) and Advisors Asset Management Inc. (0.47%). Company insiders that own THL Credit stock include Christopher J Flynn, James R Fellows, Jane Musser Nelson, Sabrina Rusnak-Carlson, Sam W Tillinghast and Terrence W Olson. View Institutional Ownership Trends for THL Credit.
Which institutional investors are selling THL Credit stock?
TCRD stock was sold by a variety of institutional investors in the last quarter, including Ares Management LLC, Oxford Asset Management LLP, Connor Clark & Lunn Investment Management Ltd., Athena Capital Advisors LLC, Advisors Asset Management Inc. and JPMorgan Chase & Co.. View Insider Buying and Selling for THL Credit.
Which institutional investors are buying THL Credit stock?
TCRD stock was purchased by a variety of institutional investors in the last quarter, including Fiera Capital Corp, Freestone Capital Holdings LLC, Bank of Montreal Can, Jane Street Group LLC, AJO LP, Globeflex Capital L P, Joseph P. Lucia & Associates LLC and Wells Fargo & Company MN. Company insiders that have bought THL Credit stock in the last two years include Christopher J Flynn, James R Fellows, Jane Musser Nelson, Sabrina Rusnak-Carlson, Sam W Tillinghast and Terrence W Olson. View Insider Buying and Selling for THL Credit.
How do I buy shares of THL Credit?
Shares of TCRD can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is THL Credit's stock price today?
One share of TCRD stock can currently be purchased for approximately $6.69.
How big of a company is THL Credit?
THL Credit has a market capitalization of $212.80 million and generates $66.94 million in revenue each year. The investment management company earns $-10,600,000.00 in net income (profit) each year or $1.07 on an earnings per share basis.
What is THL Credit's official website?
How can I contact THL Credit?
THL Credit's mailing address is 100 FEDERAL STREET 31ST FLOOR, BOSTON MA, 02110. The investment management company can be reached via phone at 800-450-4424 or via email at [email protected]
MarketBeat Community Rating for THL Credit (NASDAQ TCRD)
MarketBeat's community ratings are surveys of what our community members think about THL Credit and other stocks. Vote "Outperform" if you believe TCRD will outperform the S&P 500 over the long term. Vote "Underperform" if you believe TCRD will underperform the S&P 500 over the long term. You may vote once every thirty days.
