Van ECK Associates Corp decreased its position in shares of Tcg Bdc (NASDAQ:CGBD) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 439,229 shares of the company’s stock after selling 12,842 shares during the period. Van ECK Associates Corp owned approximately 0.70% of Tcg Bdc worth $7,862,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware grew its position in shares of Tcg Bdc by 9.3% during the fourth quarter. Mckinley Capital Management LLC Delaware now owns 69,371 shares of the company’s stock valued at $1,390,000 after purchasing an additional 5,912 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Tcg Bdc by 64.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,212 shares of the company’s stock valued at $405,000 after acquiring an additional 7,922 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Tcg Bdc by 34.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 31,100 shares of the company’s stock valued at $556,000 after acquiring an additional 8,000 shares during the last quarter. Advisory Research Inc. lifted its holdings in shares of Tcg Bdc by 5.1% in the 4th quarter. Advisory Research Inc. now owns 210,513 shares of the company’s stock valued at $4,219,000 after acquiring an additional 10,172 shares during the last quarter. Finally, Abbrea Capital LLC bought a new position in shares of Tcg Bdc in the 1st quarter valued at about $206,000. Hedge funds and other institutional investors own 15.17% of the company’s stock.
Shares of Tcg Bdc opened at $18.10 on Friday, MarketBeat reports. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.71. Tcg Bdc has a 12 month low of $16.76 and a 12 month high of $20.30. The stock has a market capitalization of $1.13 billion and a P/E ratio of 10.40.
Tcg Bdc (NASDAQ:CGBD) last announced its quarterly earnings results on Friday, May 4th. The company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. Tcg Bdc had a net margin of 49.96% and a return on equity of 8.73%. The firm had revenue of $47.48 million during the quarter, compared to the consensus estimate of $48.08 million. During the same quarter last year, the firm earned $0.01 EPS. sell-side analysts forecast that Tcg Bdc will post 1.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 17th. Shareholders of record on Friday, June 29th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 8.18%. The ex-dividend date of this dividend is Thursday, June 28th. Tcg Bdc’s payout ratio is currently 85.06%.
A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Tcg Bdc from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. ValuEngine downgraded shares of Tcg Bdc from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Citigroup assumed coverage on shares of Tcg Bdc in a report on Wednesday, March 28th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. downgraded shares of Tcg Bdc from an “overweight” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Wednesday, April 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Tcg Bdc currently has an average rating of “Buy” and a consensus price target of $19.30.
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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