Guggenheim Capital LLC Sells 29,066 Shares of TCG BDC, Inc. (NASDAQ:CGBD)


Share on StockTwits

Guggenheim Capital LLC cut its stake in TCG BDC, Inc. (NASDAQ:CGBD) by 20.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 115,707 shares of the company’s stock after selling 29,066 shares during the period. Guggenheim Capital LLC’s holdings in TCG BDC were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the company. Morgan Stanley raised its position in shares of TCG BDC by 4.9% in the third quarter. Morgan Stanley now owns 1,589,020 shares of the company’s stock valued at $14,158,000 after purchasing an additional 74,688 shares during the period. Van ECK Associates Corp grew its stake in TCG BDC by 14.2% during the fourth quarter. Van ECK Associates Corp now owns 895,418 shares of the company’s stock worth $9,187,000 after buying an additional 111,157 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in TCG BDC by 14.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 446,868 shares of the company’s stock worth $4,585,000 after buying an additional 57,036 shares in the last quarter. BlackRock Inc. grew its stake in TCG BDC by 1.4% during the fourth quarter. BlackRock Inc. now owns 366,823 shares of the company’s stock worth $3,764,000 after buying an additional 5,012 shares in the last quarter. Finally, Novare Capital Management LLC boosted its stake in shares of TCG BDC by 28.1% in the 4th quarter. Novare Capital Management LLC now owns 219,865 shares of the company’s stock valued at $2,256,000 after purchasing an additional 48,195 shares in the last quarter. 24.48% of the stock is currently owned by institutional investors.

NASDAQ:CGBD opened at $13.64 on Thursday. The firm’s 50 day simple moving average is $13.00 and its 200 day simple moving average is $10.95. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.97 and a quick ratio of 0.97. TCG BDC, Inc. has a one year low of $5.15 and a one year high of $13.88. The company has a market cap of $750.87 million, a PE ratio of -80.24 and a beta of 2.11.

TCG BDC (NASDAQ:CGBD) last posted its earnings results on Wednesday, February 24th. The company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. TCG BDC had a negative net margin of 2.73% and a positive return on equity of 10.75%. The business had revenue of $36.61 million for the quarter, compared to the consensus estimate of $36.96 million. Equities research analysts expect that TCG BDC, Inc. will post 1.55 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 16th. Investors of record on Wednesday, March 31st will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, March 30th. This represents a $1.48 annualized dividend and a yield of 10.85%. TCG BDC’s dividend payout ratio is presently 71.51%.

A number of equities research analysts have recently weighed in on CGBD shares. Citigroup raised their price target on shares of TCG BDC from $11.00 to $14.50 in a research note on Friday, February 26th. Zacks Investment Research upgraded shares of TCG BDC from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $11.10.

TCG BDC Company Profile

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.

See Also: High-Yield Dividend Stocks

Want to see what other hedge funds are holding CGBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TCG BDC, Inc. (NASDAQ:CGBD).

Institutional Ownership by Quarter for TCG BDC (NASDAQ:CGBD)

Receive News & Ratings for TCG BDC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCG BDC and related companies with MarketBeat.com's FREE daily email newsletter.