GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

Three Insider Buys for THL Credit

March 18, 2013 | About:
Monica Wolfe

Monica Wolfe

118 followers
THL Credit Inc. (TCRD) reported three insider buys at the end of last week. On March 13, Director Keith Hughes and CFO Terrence Olson made buys into the company. On March 14 Chief Compliance Officer and General Counsel Stephanie Sullivan added to her stakes of THL Credit. Director Keith Hughes made the largest transaction, adding 10,000 shares to his stake for $15.34 per share. His total transaction amount was $153,400; Hughes now holds 33,500 shares of TCRD. CFO Terrence Olson added 2,000 shares for $15.28, costing him $30,560. Olson now owns 10,580 shares. Lastly, CCO Stephanie Sullivan added 725 shares for $15.28 per share costing her $11,078 per share. Sullivan now holds on to 9,963 shares of THL Credit.



Terrence Olson is the chief financial officer as well as the chief operating officer. He is responsible for finance operations, administration and information technology. Olson is also involved in strategic initiatives, capital raising and investor relations. Olson is a speaker and presenter at financial and private equity conferences and is a board member for the Financial Executive Alliance.

Stephanie Sullivan is the chief compliance officer as well as general counsel for CHL Credit. Her role includes the legal and compliance review of THL Credit’s business operations, investing transactions, regulatory filings and strategic initiatives.

Keith Hughes is the lead independent director at THL Credit. He is also a director at Fidelity National Information Services as well as Children’s Medical Center of Dallas.

THL Credit is an externally managed, non-diversified, closed-end management company that has chosen to be treated as a business development company. THL Credit invests primarily in junior capital securities, including subordinated debt and second lien secured debt. THL Credit is headquartered out of Boston, Mass., and has a market cap of $406.57 million.

As of Dec. 31, 2012, THL Credit’s investment portfolio was at $394.3 million across 34 portfolio companies. This total increased by 48% from 2011. The net increase in net assets for 2012 was $27.6 million or $1.26 per diluted share. The net investment income was $9.0 million or $0.34 per diluted share based on weighted average common shares out withstanding.

“During 2012, we completed 19 new investment transactions and made seven follow-on investments totaling $277 million in debt and equity capital,” said James Hunt, CEO of THL Credit. “We have an active pipeline today that includes an increasing number of unsponsored opportunities. While we continue to maintain our cautious view on the economy, we are optimistic that a gradually improving economic backdrop will continue to lead to an increasingly active first half of 2013.”

Guru, Leon Cooperman, currently holds 1,880,307 shares of TCRD.

With shares down 0.91% this morning, THL Credit trades at $15.31.

For more information of THL Credit’s insider trades, look at the TCRD Insider Trade History.

  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

» Take a Free Trial of Premium Membership


Rating: 5.0/5 (1 vote)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Email Hide