Can THL Credit, Inc.’s Tomorrow be Different? The Stock Just Broke Its 52-Week Low

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The stock of THL Credit, Inc. (NASDAQ:TCRD) hit a new 52-week low and has $9.16 target or 13.00% below today’s $10.53 share price. The 5 months bearish chart indicates high risk for the $371.05M company. The 1-year low was reported on Dec, 12 by If the $9.16 price target is reached, the company will be worth $48.24 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 2.41% or $0.26 on December 11, hitting $10.53. About 268,123 shares traded hands or 141.50% up from the average. THL Credit, Inc. (NASDAQ:TCRD) has declined 11.14% since May 11, 2015 and is downtrending. It has underperformed by 6.72% the S&P500.

Out of 11 analysts covering THL Credit (NASDAQ:TCRD), 7 rate it “Buy”, 0 “Sell”, while 5 “Hold”. This means 58% are positive. THL Credit was the topic in 6 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Maxim Group maintained the stock on November 9 with “Buy” rating.

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.” Get a free copy of the Zacks research report on THL Credit, Inc. (TCRD).

The institutional sentiment increased to 0.97 in Q3 2015. Its up 0.15, from 0.82 in 2015Q2. The ratio increased, as 9 funds sold all THL Credit, Inc. shares owned while 26 reduced positions. 13 funds bought stakes while 21 increased positions. They now own 12.71 million shares or 4.27% less from 13.27 million shares in 2015Q2.

Muzinich & Co. Inc. holds 1.69% of its portfolio in THL Credit, Inc. for 317,485 shares. Yorktown Management & Research Co Inc owns 590,000 shares or 1.07% of their US portfolio. Moreover, Shikiar Asset Management Inc has 0.95% invested in the company for 167,800 shares. The New Jersey-based Highlander Capital Management Llc has invested 0.92% in the stock. West Family Investments Inc., a Illinois-based fund reported 392,893 shares.

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