TCG BDC Inc (NASDAQ:CGBD) Receives Consensus Recommendation of “Hold” from Analysts

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Shares of TCG BDC Inc (NASDAQ:CGBD) have earned an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $8.56.

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of TCG BDC from $13.50 to $8.50 and set an “overweight” rating for the company in a report on Monday, May 4th. Keefe, Bruyette & Woods upped their price target on shares of TCG BDC from $7.00 to $8.50 and gave the company a “market perform” rating in a report on Friday, May 8th. Wells Fargo & Co upped their price objective on shares of TCG BDC from $6.00 to $8.25 and gave the stock an “underweight” rating in a report on Thursday, May 7th. ValuEngine lowered shares of TCG BDC from a “sell” rating to a “strong sell” rating in a report on Thursday, April 2nd. Finally, Zacks Investment Research lowered shares of TCG BDC from a “hold” rating to a “sell” rating in a report on Monday, May 25th.

In other TCG BDC news, CEO Linda Pace bought 19,984 shares of TCG BDC stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average cost of $12.72 per share, with a total value of $254,196.48. Also, CFO Thomas M. Hennigan bought 17,440 shares of TCG BDC stock in a transaction dated Tuesday, March 17th. The stock was acquired at an average cost of $4.76 per share, for a total transaction of $83,014.40. Insiders bought a total of 63,109 shares of company stock worth $557,612 over the last ninety days. Insiders own 0.24% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp grew its position in TCG BDC by 28.9% during the 4th quarter. Van ECK Associates Corp now owns 659,777 shares of the company’s stock valued at $8,828,000 after purchasing an additional 147,908 shares during the last quarter. Two Sigma Advisers LP grew its position in TCG BDC by 21.5% during the 1st quarter. Two Sigma Advisers LP now owns 488,400 shares of the company’s stock valued at $2,549,000 after purchasing an additional 86,400 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in TCG BDC during the 1st quarter valued at about $1,889,000. West Family Investments Inc. grew its position in TCG BDC by 15.6% during the 1st quarter. West Family Investments Inc. now owns 358,563 shares of the company’s stock valued at $1,874,000 after purchasing an additional 48,500 shares during the last quarter. Finally, Virtus ETF Advisers LLC grew its position in TCG BDC by 38.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 339,177 shares of the company’s stock valued at $4,538,000 after purchasing an additional 94,274 shares during the last quarter. 29.72% of the stock is currently owned by institutional investors.

Shares of CGBD traded up $0.14 during mid-day trading on Wednesday, reaching $9.05. The company’s stock had a trading volume of 386,116 shares, compared to its average volume of 542,877. The company’s fifty day moving average price is $7.34 and its two-hundred day moving average price is $11.03. TCG BDC has a 52 week low of $4.30 and a 52 week high of $15.56. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.58. The stock has a market cap of $501.71 million, a PE ratio of -5.50 and a beta of 2.22.

TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. TCG BDC had a negative net margin of 43.15% and a positive return on equity of 11.07%. The company had revenue of $38.37 million during the quarter, compared to analyst estimates of $37.29 million. Research analysts anticipate that TCG BDC will post 1.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 16.35%. The ex-dividend date of this dividend is Monday, June 29th. TCG BDC’s dividend payout ratio is presently 82.68%.

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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