Shares of TCG BDC, Inc. (NASDAQ:CGBD) have been given a consensus broker rating score of 1.25 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and three have issued a strong buy rating on the company.
Analysts have set a 1-year consensus target price of $19.25 for the company, according to Zacks. Zacks has also given TCG BDC an industry rank of 176 out of 265 based on the ratings given to related companies.
A number of brokerages have recently issued reports on CGBD. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $20.00 target price on shares of TCG BDC in a report on Thursday, August 31st. Bank of America Corporation began coverage on shares of TCG BDC in a report on Monday, July 10th. They issued a “buy” rating and a $19.00 target price on the stock. Wells Fargo & Company began coverage on shares of TCG BDC in a report on Monday, July 10th. They issued an “outperform” rating and a $18.50 target price on the stock. Finally, J P Morgan Chase & Co began coverage on shares of TCG BDC in a report on Monday, July 10th. They issued an “overweight” rating and a $19.00 target price on the stock.
Shares of TCG BDC (NASDAQ:CGBD) traded up 1.53% during trading on Monday, reaching $18.59. The company’s stock had a trading volume of 60,607 shares. The company’s 50-day moving average is $18.43 and its 200-day moving average is $18.46. TCG BDC has a 12 month low of $17.61 and a 12 month high of $18.70.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, September 29th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.08%.
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Several hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP bought a new stake in shares of TCG BDC in the 2nd quarter valued at about $200,000. Ares Management LLC acquired a new position in TCG BDC in the 2nd quarter valued at about $8,554,000. Goldman Sachs Group Inc. acquired a new position in TCG BDC in the 2nd quarter valued at about $571,000. Muzinich & Co. Inc. acquired a new position in TCG BDC in the 2nd quarter valued at about $14,408,000. Finally, Ameriprise Financial Inc. acquired a new position in TCG BDC in the 2nd quarter valued at about $6,258,000. 7.63% of the stock is currently owned by institutional investors.
TCG BDC Company Profile
TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.
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