TCG BDC (NASDAQ:CGBD) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of TCG BDC (NASDAQ:CGBD) from a sell rating to a hold rating in a research note published on Monday, November 13th.

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 reiterated a buy rating and issued a $20.00 price objective on shares of TCG BDC in a report on Friday, October 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $19.50.

Shares of TCG BDC (CGBD) traded down $0.12 during midday trading on Monday, reaching $18.43. 24,081 shares of the company were exchanged, compared to its average volume of 34,168. TCG BDC has a 1-year low of $17.61 and a 1-year high of $19.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.89 and a quick ratio of 0.89.

TCG BDC (NASDAQ:CGBD) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The business had revenue of $42.65 million during 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%. analysts forecast that TCG BDC will post 1.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.37 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.48 annualized dividend and a yield of 8.03%.

A number of institutional investors have recently added to or reduced their stakes in the business. Muzinich & Co. Inc. bought a new position in TCG BDC during the 2nd quarter worth approximately $14,408,000. State of New Jersey Common Pension Fund D raised 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 worth $12,233,000 after purchasing an additional 100,000 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in TCG BDC by 1.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 519,375 shares of the company’s stock worth $9,775,000 after purchasing an additional 9,275 shares during the last quarter. Ares Management LLC bought a new position in TCG BDC during the 2nd quarter worth approximately $8,554,000. Finally, Van ECK Associates Corp bought a new position in TCG BDC during the 3rd quarter worth approximately $8,410,000. Hedge funds and other institutional investors own 9.14% of the company’s stock.

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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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