TCG BDC (NASDAQ:CGBD) had its target price increased by Wells Fargo & Co from $15.25 to $16.00 in a research note issued to investors on Thursday. The brokerage presently has a “market perform” rating on the stock. Wells Fargo & Co’s price objective would indicate a potential upside of 0.19% from the stock’s previous close.
Several other analysts have also recently issued reports on the company. ValuEngine upgraded TCG BDC from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded TCG BDC from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Wednesday, October 24th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $19.00 target price on shares of TCG BDC in a report on Thursday, August 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. TCG BDC currently has an average rating of “Buy” and a consensus target price of $18.00.
Shares of NASDAQ:CGBD opened at $15.97 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 4.81 and a beta of -0.05. TCG BDC has a 52-week low of $15.27 and a 52-week high of $20.30.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Newport Trust Co purchased a new position in shares of TCG BDC during the 3rd quarter worth $13,038,000. Sageworth Trust Co grew its holdings in shares of TCG BDC by 46.7% during the 3rd quarter. Sageworth Trust Co now owns 611,849 shares of the company’s stock worth $10,218,000 after purchasing an additional 194,863 shares during the period. Van ECK Associates Corp grew its holdings in shares of TCG BDC by 1.7% during the 2nd quarter. Van ECK Associates Corp now owns 446,612 shares of the company’s stock worth $7,601,000 after purchasing an additional 7,383 shares during the period. BlackRock Inc. purchased a new position in shares of TCG BDC during the 1st quarter worth $6,292,000. Finally, Legal & General Group Plc purchased a new position in shares of TCG BDC during the 2nd quarter worth $3,964,000. Institutional investors and hedge funds own 19.77% of the company’s stock.
About TCG BDC
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.
Featured Story: How do investors use RSI to grade stocks?
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.