TCG BDC, Inc. (CGBD) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of TCG BDC, Inc. (NASDAQ:CGBD) have received an average broker rating score of 1.25 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and three have given a strong buy recommendation to the company.

Brokers have set a 12-month consensus price target of $19.13 for the company and are expecting that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also assigned TCG BDC an industry rank of 86 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded TCG BDC from a “sell” rating to a “hold” rating in a research note on Thursday.

In related news, Director John G. Nestor purchased 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Several hedge funds have recently modified their holdings of CGBD. Susquehanna International Group LLP bought a new stake in TCG BDC during the second quarter worth $200,000. Kayne Anderson Capital Advisors LP bought a new stake in TCG BDC during the third quarter worth $225,000. Wells Fargo & Company MN lifted its stake in TCG BDC by 508.3% during the third quarter. Wells Fargo & Company MN now owns 14,295 shares of the company’s stock worth $269,000 after purchasing an additional 11,945 shares during the last quarter. Ballentine Partners LLC bought a new stake in TCG BDC during the fourth quarter worth $320,000. Finally, Goldman Sachs Group Inc. bought a new stake in TCG BDC during the second quarter worth $571,000. Institutional investors and hedge funds own 9.16% of the company’s stock.

TCG BDC (NASDAQ CGBD) traded down $0.05 during trading on Tuesday, hitting $17.46. The stock had a trading volume of 121,596 shares, compared to its average volume of 127,920. TCG BDC has a 52 week low of $16.76 and a 52 week high of $20.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.89 and a current ratio of 0.89.

TCG BDC (NASDAQ:CGBD) last posted its earnings results on Tuesday, November 7th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. TCG BDC had a return on equity of 8.82% and a net margin of 50.18%. The company had revenue of $42.65 million for the quarter, compared to the consensus estimate of $43.50 million. analysts anticipate that TCG BDC will post 1.7 EPS for the current year.

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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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