TCG BDC, Inc. (CGBD) Rating Reiterated by Keefe, Bruyette & Woods

TCG BDC, Inc. (NASDAQ:CGBD)‘s stock had its “buy” rating restated by equities research analysts at Keefe, Bruyette & Woods in a report issued on Friday. They currently have a $20.00 target price on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 6.04% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised TCG BDC from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Monday, September 11th. Bank of America Corporation began coverage on TCG BDC in a research 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 TCG BDC in a research 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 TCG BDC in a research report on Monday, July 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. TCG BDC has a consensus rating of “Buy” and an average price target of $19.50.

Shares of TCG BDC (CGBD) opened at 18.87 on Friday. The company has a 50-day moving average price of $18.58 and a 200-day moving average price of $18.43. The company’s market capitalization is $1.17 billion. TCG BDC has a 52 week low of $17.61 and a 52 week high of $19.25.

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Hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP purchased a new position in shares of TCG BDC during the 2nd quarter valued at about $200,000. Goldman Sachs Group Inc. purchased a new position in shares of TCG BDC during the 2nd quarter valued at about $571,000. Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of TCG BDC during the 2nd quarter valued at about $1,987,000. West Family Investments Inc. purchased a new position in shares of TCG BDC during the 2nd quarter valued at about $5,403,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of TCG BDC during the 2nd quarter valued at about $6,258,000. 7.63% of the stock is currently owned by hedge funds and other institutional investors.

About TCG BDC

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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