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
Stock Exchange NASDAQ
Industry Investors, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
Current SymbolNASDAQ:TCRD
Previous Symbol
CUSIP87243810
Phone800-450-4424
Debt
Debt-to-Equity Ratio0.34
Current Ratio0.22
Quick Ratio0.22
Price-To-Earnings
Trailing P/E Ratio5.45
Forward P/E Ratio5.95
P/E GrowthN/A
Sales & Book Value
Annual Sales$78.77 million
Price / Sales2.74
Cash Flow$1.0577 per share
Price / Cash Flow6.24
Book Value$10.53 per share
Price / Book0.63
Profitability
EPS (Most Recent Fiscal Year)$1.21
Net Income$-7,900,000.00
Net Margins-8.62%
Return on Equity10.73%
Return on Assets6.03%
Miscellaneous
EmployeesN/A
Outstanding Shares32,670,000
Market Cap$236.23 million
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 Thursday, November 8th. Stockholders of record on Friday, December 14th will be given a dividend of $0.27 per share on Monday, December 31st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 16.36%. The ex-dividend date is Thursday, December 13th. View THL Credit's Dividend History.
How will THL Credit's stock buyback program work?
THL Credit declared that its board has authorized a stock repurchase program on Thursday, April 6th 2017, which permits the company to repurchase $20,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization permits the company to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.
How were THL Credit's earnings last quarter?
THL Credit, Inc. (NASDAQ:TCRD) released its earnings results on Wednesday, November, 7th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.28 by $0.02. The investment management company had revenue of $16.08 million for the quarter, compared to analyst estimates of $16.63 million. THL Credit had a negative net margin of 8.62% and a positive return on equity of 10.73%. View THL Credit's Earnings History.
When is THL Credit's next earnings date?
What price target have analysts set for TCRD?
5 brokerages have issued twelve-month target prices for THL Credit's stock. Their forecasts range from $9.00 to $9.50. On average, they anticipate THL Credit's share price to reach $9.1667 in the next year. This suggests a possible upside of 38.9% from the stock's current price. View Analyst Price Targets for THL Credit.
What is the consensus analysts' recommendation for THL Credit?
5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for THL Credit in the last year. There are currently 1 sell rating and 4 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. 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. " (11/16/2018)
- 2. National Securities analysts commented, " TCRD’s NAV/share decreased to $10.10 from $10.23 Q/Q largely pertaining to write-downs from Charming Charlie’s and LAI. Although these are not currently on non-accrual, previous non-accrual Loadmaster Derrick’s revolver was also placed on non-accrual during the quarter, bringing the cost basis of this investment’s non-accruals up to $13.0 million from $8.4 million Q/Q.
The good news for THL is that Tri Starr was exited subsequent to quarter-end consistent with the 9/30/18 marks. We think the market will likely continue to discount the stock, however, as it considers the potential for further companies in the non-sponsor book (or other parts of the portfolio) to be written down further.
At 9/30/18, THL had five non-sponsor investments remaining with control equity in four of them although Tri Starr was exited in 4Q18. Copperweld’s performance has improved and TCRD began to accrue a dividend on the preferred stock of the investment.
The portfolio at fair value shrank to $532.8million from $559.0 million Q/Q as management noted that repayment activity picked up at the end of the quarter and they were not able to deploy all of the capital. This caused NII/share to come in at $0.26 with the incentive fee waived. We think that with the resumption of the incentive fee likely not being waived in 3Q19 that TCRD should be forced to cut its quarterly dividend to $0.19/share from $0.27/share currently. We note that earnings should also likely be negatively impacted by $0.03/share in 4Q18 pertaining to the redemption of the 2021 notes.
We are revising 2018 NII/share estimate to $1.04 from $1.13 and our 2019 NII/share estimate to $0.95 from $1.04. We are maintaining our NEUTRAL rating and trimming our price target to $9 from $10." (11/14/2018)
Has THL Credit been receiving favorable news coverage?
Media headlines about TCRD stock have been trending somewhat negative recently, InfoTrie Sentiment reports. The research firm ranks the sentiment of news 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 negative five to positive five, with scores nearest to five being the most favorable. THL Credit earned a media sentiment score of -1.4 on InfoTrie's scale. They also gave headlines about the investment management company a news buzz of 7.0 out of 10, meaning that recent news coverage is likely to have an effect on the stock's share price in the next few days.
Who are some of THL Credit's key competitors?
Some companies that are related to THL Credit include PennantPark Investment (PNNT), Pennantpark Floating Rate Capital (PFLT), Capital Southwest (CSWC), Gladstone Investment (GAIN), Triplepoint Venture Growth BDC (TPVG), Arlington Asset Investment (AI), Oaktree Strategic Income (OCSI), Stellus Capital Investment (SCM), Safeguard Scientifics (SFE), OFS Capital (OFS), Capitala Finance (CPTA), Garrison Capital (GARS), KCAP Financial (KCAP), CM Finance (CMFN) and Firsthand Technology Value Fund (SVVC).
Who are THL Credit's key executives?
THL Credit's management team includes the folowing people:
- Mr. Christopher J. Flynn, Chief Exec. Officer (Age 45)
- Mr. Terrence William Olson, Assistant Sec., Treasurer, CFO & COO (Age 51)
- Ms. Sabrina Rusnak-Carlson, Gen. Counsel and Chief Compliance Officer
- Mr. Howard H. Wu, Co-Head of Direct Lending and Director (Age 39)
- 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 number of of retail and institutional investors. Top institutional investors include Advisors Asset Management Inc. (1.54%), Fort Washington Investment Advisors Inc. OH (0.97%), Freestone Capital Holdings LLC (0.92%), Cliffwater LLC (0.86%), Shikiar Asset Management Inc. (0.55%) and Mackenzie Financial Corp (0.30%). Company insiders that own THL Credit stock include Christopher J Flynn, James R Fellows, 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?
Which institutional investors are buying THL Credit stock?
TCRD stock was bought by a variety of institutional investors in the last quarter, including Freestone Capital Holdings LLC, Cliffwater LLC, Mackenzie Financial Corp, Globeflex Capital L P, Connor Clark & Lunn Investment Management Ltd., Advisors Asset Management Inc., Shikiar Asset Management Inc. and Trexquant Investment LP. Company insiders that have bought THL Credit stock in the last two years include Christopher J Flynn, James R Fellows, 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 $6.60.
How big of a company is THL Credit?
THL Credit has a market capitalization of $236.23 million and generates $78.77 million in revenue each year. The investment management company earns $-7,900,000.00 in net income (profit) each year or $1.21 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.
