TCG BDC (CGBD) Given “Buy” Rating at Keefe, Bruyette & Woods

TCG BDC (NASDAQ:CGBD)‘s stock had its “buy” rating restated by stock analysts at Keefe, Bruyette & Woods in a note issued to investors on Thursday, August 9th. They currently have a $19.00 target price on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 11.83% from the company’s current price.

A number of other brokerages also recently weighed in on CGBD. Zacks Investment Research upgraded TCG BDC from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, May 23rd. JPMorgan Chase & Co. downgraded TCG BDC from an “overweight” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Wednesday, April 11th. ValuEngine downgraded TCG BDC from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Wells Fargo & Co downgraded TCG BDC from an “outperform” rating to a “market perform” rating and set a $18.50 price objective for the company. in a research note on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. TCG BDC currently has a consensus rating of “Hold” and an average target price of $18.88.

TCG BDC stock traded down $0.03 during midday trading on Thursday, hitting $16.99. 135,200 shares of the company were exchanged, compared to its average volume of 127,608. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.53 and a current ratio of 0.53. TCG BDC has a fifty-two week low of $16.73 and a fifty-two week high of $20.30. The firm has a market capitalization of $1.06 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 5.16 and a beta of -0.45.

TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. TCG BDC had a return on equity of 9.32% and a net margin of 45.15%. The company had revenue of $52.45 million for the quarter, compared to the consensus estimate of $46.60 million. analysts forecast that TCG BDC will post 1.65 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. HPM Partners LLC acquired a new position in TCG BDC during the 2nd quarter worth $383,000. Millennium Management LLC acquired a new stake in shares of TCG BDC in the second quarter valued at $959,000. Sterling Capital Management LLC acquired a new stake in shares of TCG BDC in the second quarter valued at $207,000. Bank of America Corp DE lifted its holdings in shares of TCG BDC by 201.7% in the second quarter. Bank of America Corp DE now owns 16,757 shares of the company’s stock valued at $285,000 after buying an additional 11,202 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of TCG BDC in the second quarter valued at $630,000. Institutional investors own 19.85% of the company’s stock.

About TCG BDC

TCG BDC, Inc is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as corporate mezzanine loans, equity co-investments, syndicated first lien and second lien senior secured loans, high-yield bonds, structured finance obligations, and other opportunistic investments.

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