TCG BDC, Inc. (NASDAQ:CGBD) has received an average 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 recommendation and three have assigned a strong buy recommendation to the company.
Brokers have set a 1-year consensus price objective of $19.25 for the company and are anticipating that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also given TCG BDC an industry rank of 191 out of 265 based on the ratings given to its competitors.
Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $20.00 price objective on shares of TCG BDC in a research report on Friday, October 6th. Zacks Investment Research cut TCG BDC from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd.
In other news, Director John G. Nestor acquired 10,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were purchased at an average price of $18.55 per share, for a total transaction of $185,500.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.10% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. increased its position 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 worth $9,775,000 after purchasing an additional 9,275 shares during the period. Mckinley Capital Management LLC Delaware increased its position in shares of TCG BDC by 21,632.5% in the third quarter. Mckinley Capital Management LLC Delaware now owns 63,459 shares of the company’s stock worth $1,194,000 after purchasing an additional 63,167 shares during the period. Wells Fargo & Company MN increased its position 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 worth $269,000 after purchasing an additional 11,945 shares during the period. Van ECK Associates Corp bought a new position in shares of TCG BDC in the third quarter worth $8,410,000. Finally, Kayne Anderson Capital Advisors LP bought a new position in shares of TCG BDC in the third quarter worth $225,000. Institutional investors own 9.14% of the company’s stock.
Shares of TCG BDC (NASDAQ CGBD) opened at $18.23 on Wednesday. TCG BDC has a twelve month low of $16.97 and a twelve month high of $20.30. The stock has a market capitalization of $1,130.00 and a price-to-earnings ratio of 11.69. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.76.
TCG BDC (NASDAQ:CGBD) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.41 earnings per share (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 business had revenue of $42.65 million during the quarter, compared to the consensus estimate of $43.50 million. equities research analysts expect that TCG BDC will post 1.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, December 29th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 8.12%. The ex-dividend date of this dividend is Thursday, December 28th. TCG BDC’s payout ratio is 94.87%.
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TCG BDC Company Profile
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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