TCG BDC, Inc. (NASDAQ:CGBD) has earned a consensus broker rating score of 1.25 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and three have given a strong buy rating to the company.
Analysts have set a twelve-month consensus price target of $19.25 for the company, according to Zacks. Zacks has also assigned TCG BDC an industry rank of 118 out of 265 based on the ratings given to its competitors.
Several research firms have recently issued reports on CGBD. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $20.00 price objective on shares of TCG BDC in a research report on Thursday, August 31st. Zacks Investment Research raised shares of TCG BDC from a “sell” rating to a “hold” rating in a research report on Monday, November 13th.
TCG BDC (NASDAQ:CGBD) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. TCG BDC had a net margin of 50.18% and a return on equity of 8.82%. The company had revenue of $42.65 million during the quarter, compared to analyst estimates of $43.50 million. analysts forecast that TCG BDC will post 1.7 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.07%. The ex-dividend date is Thursday, December 28th.
In other news, Director John G. Nestor bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was acquired at an average cost of $18.55 per share, for a total transaction of $185,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. boosted its stake in shares of TCG BDC by 1.8% in the third quarter. Alyeska Investment Group L.P. now owns 519,375 shares of the company’s stock valued at $9,775,000 after purchasing an additional 9,275 shares during the period. Susquehanna International Group LLP purchased a new position in shares of TCG BDC in the second quarter valued at $200,000. Wells Fargo & Company MN boosted its stake in shares of TCG BDC by 508.3% in the third quarter. Wells Fargo & Company MN now owns 14,295 shares of the company’s stock valued at $269,000 after purchasing an additional 11,945 shares during the period. Kayne Anderson Capital Advisors LP purchased a new position in shares of TCG BDC in the third quarter valued at $225,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of TCG BDC by 3.6% in the third quarter. Ameriprise Financial Inc. now owns 360,000 shares of the company’s stock valued at $6,775,000 after purchasing an additional 12,500 shares during the period. Institutional investors and hedge funds 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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