Maxim Group analyst Michael Diana maintained a Hold rating on THL Credit (TCRD) today. The company’s shares opened today at $6.70.
Diana noted:
“TCRD is making good progress on its transition toward first-lien senior- secured loans to PE-sponsored companies (core assets), and away from more junior positions in unsponsored companies, but: 1) the transition has taken longer than anticipated; and, along the way, 2) TCRD has taken losses on legacy assets; and 3) the transition has reduced TCRD’s earnings power. Therefore, we maintain our Hold rating.”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 5.5% and a 56.7% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Arlington Asset Investment, and Westamerica Bancorporation.
Currently, the analyst consensus on THL Credit is a Hold with an average price target of $7.
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Based on THL Credit’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $4.65 million. In comparison, last year the company had a GAAP net loss of $18.55 million.
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THL Credit, Inc. is an externally managed, non-diversified closed-end management investment company. Its objective is to generate both current income and capital appreciation, through investments in privately negotiated debt and equity securities of lower middle market companies. The company was founded on May 26, 2009 and is headquartered in Boston, MA.
