TCG BDC, Inc. (NASDAQ:CGBD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
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. “
Separately, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $20.00 price objective on shares of TCG BDC in a report on Friday, October 6th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $19.50.
TCG BDC (CGBD) traded up $0.24 during midday trading on Monday, reaching $18.54. 36,500 shares of the company’s stock traded hands, compared to its average volume of 104,101. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.76. TCG BDC has a 52 week low of $17.61 and a 52 week high of $19.25.
TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $42.65 million for the quarter, compared to analyst estimates of $43.50 million. TCG BDC had a net margin of 50.18% and a return on equity of 8.82%. research analysts forecast that TCG BDC will post 1.7 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. Muzinich & Co. Inc. bought a new position in TCG BDC during the 2nd quarter valued at about $14,408,000. State of New Jersey Common Pension Fund D lifted its holdings in TCG BDC by 18.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 650,000 shares of the company’s stock valued at $12,233,000 after purchasing an additional 100,000 shares during the last quarter. Ares Management LLC bought a new position in TCG BDC during the 2nd quarter valued at about $8,554,000. Van ECK Associates Corp bought a new position in TCG BDC during the 3rd quarter valued at about $8,410,000. Finally, Ameriprise Financial Inc. lifted its holdings in TCG BDC by 3.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 360,000 shares of the company’s stock valued at $6,775,000 after purchasing an additional 12,500 shares during the last quarter. 7.90% of the stock is owned by hedge funds and other 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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