According to Zacks, “TCG BDC, Inc. is an externally managed specialty finance company. It focused on providing flexible financing solutions to middle market companies primarily located in the United States. TCG BDC, Inc. is based in New York, United States. “
CGBD has been the subject of several other research reports. JPMorgan Chase & Co. raised TCG BDC from a neutral rating to an overweight rating and cut their price target for the stock from $16.50 to $15.50 in a research note on Wednesday, January 16th. ValuEngine downgraded TCG BDC from a hold rating to a sell rating in a research note on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $16.13.
TCG BDC (NASDAQ:CGBD) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The business had revenue of $55.19 million during the quarter, compared to the consensus estimate of $56.70 million. TCG BDC had a return on equity of 10.19% and a net margin of 24.05%. During the same quarter in the previous year, the company posted ($0.02) EPS. On average, analysts expect that TCG BDC will post 1.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 9.98%. The ex-dividend date is Thursday, June 27th. TCG BDC’s dividend payout ratio (DPR) is presently 85.55%.
In other news, Director John G. Nestor bought 6,800 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was purchased at an average price of $14.63 per share, with a total value of $99,484.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.12% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CGBD. Advisory Alpha LLC acquired a new position in TCG BDC in the 1st quarter valued at about $36,000. Synovus Financial Corp acquired a new position in TCG BDC in the 4th quarter valued at about $54,000. Quantamental Technologies LLC raised its stake in TCG BDC by 204.4% in the 1st quarter. Quantamental Technologies LLC now owns 4,125 shares of the company’s stock valued at $60,000 after purchasing an additional 2,770 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in TCG BDC in the 4th quarter valued at about $73,000. Finally, Advisor Group Inc. raised its stake in TCG BDC by 1,413.2% in the 4th quarter. Advisor Group Inc. now owns 6,658 shares of the company’s stock valued at $83,000 after purchasing an additional 6,218 shares during the last quarter. 26.94% of the stock is owned by hedge funds and other institutional investors.
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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