TCG BDC (NASDAQ:CGBD) Upgraded by Zacks Investment Research to “Hold”

TCG BDC (NASDAQ:CGBD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

A number of other research firms also recently issued reports on CGBD. ValuEngine downgraded shares of TCG BDC from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods downgraded shares of TCG BDC from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $16.00 to $15.00 in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. TCG BDC has a consensus rating of “Hold” and a consensus target price of $15.88.

Shares of NASDAQ:CGBD traded down $0.26 during mid-day trading on Tuesday, hitting $14.14. The stock had a trading volume of 286,042 shares, compared to its average volume of 338,651. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $860.54 million, a PE ratio of 8.17, a P/E/G ratio of 4.08 and a beta of 0.93. TCG BDC has a 12-month low of $12.19 and a 12-month high of $16.98. The company’s 50 day moving average is $14.40 and its 200-day moving average is $14.83.

TCG BDC (NASDAQ:CGBD) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. TCG BDC had a net margin of 22.04% and a return on equity of 10.40%. The business had revenue of $56.87 million during the quarter, compared to the consensus estimate of $57.06 million. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, equities research analysts predict that TCG BDC will post 1.77 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Wolverine Trading LLC purchased a new stake in TCG BDC in the 2nd quarter worth approximately $175,000. LGL Partners LLC purchased a new stake in TCG BDC in the 2nd quarter worth approximately $248,000. Voloridge Investment Management LLC bought a new position in shares of TCG BDC during the 2nd quarter valued at $283,000. Citadel Advisors LLC raised its holdings in shares of TCG BDC by 2.0% during the 2nd quarter. Citadel Advisors LLC now owns 209,386 shares of the company’s stock valued at $3,191,000 after purchasing an additional 4,072 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of TCG BDC by 373.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 317,677 shares of the company’s stock valued at $4,841,000 after purchasing an additional 250,510 shares in the last quarter. Institutional investors own 32.15% 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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