Muzinich & Co. Inc. lessened its stake in TCG BDC Inc (NASDAQ:CGBD) by 13.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 771,406 shares of the company’s stock after selling 115,979 shares during the quarter. TCG BDC accounts for about 3.1% of Muzinich & Co. Inc.’s portfolio, making the stock its 15th largest holding. Muzinich & Co. Inc. owned about 1.23% of TCG BDC worth $12,882,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of CGBD. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of TCG BDC by 77.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 95,074 shares of the company’s stock valued at $1,618,000 after buying an additional 41,457 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of TCG BDC by 13.7% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 64,666 shares of the company’s stock valued at $1,101,000 after buying an additional 7,791 shares during the period. Dean Capital Investments Management LLC acquired a new position in shares of TCG BDC in the 2nd quarter valued at about $502,000. Stanley Laman Group Ltd. acquired a new position in shares of TCG BDC in the 2nd quarter valued at about $172,000. Finally, Legal & General Group Plc acquired a new position in shares of TCG BDC in the 2nd quarter valued at about $3,964,000. 21.27% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on CGBD shares. Wells Fargo & Co cut TCG BDC from an “outperform” rating to a “market perform” rating and set a $18.50 price objective for the company. in a report on Wednesday, August 8th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $19.00 price objective on shares of TCG BDC in a report on Thursday, August 9th. Zacks Investment Research cut TCG BDC from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Finally, ValuEngine cut TCG BDC from a “hold” rating to a “sell” rating in a report on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.75.
In other TCG BDC news, CEO Michael Anthony Hart purchased 6,500 shares of TCG BDC stock in a transaction that occurred on Monday, December 3rd. The stock was bought at an average price of $15.64 per share, with a total value of $101,660.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.
NASDAQ CGBD opened at $15.31 on Wednesday. The stock has a market capitalization of $969.81 million, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 4.69 and a beta of -0.07. TCG BDC Inc has a twelve month low of $15.04 and a twelve month high of $20.30. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.91.
TCG BDC (NASDAQ:CGBD) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $51.28 million during the quarter, compared to analysts’ expectations of $49.12 million. TCG BDC had a return on equity of 9.41% and a net margin of 33.51%. TCG BDC’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. As a group, equities research analysts expect that TCG BDC Inc will post 1.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Friday, December 28th will be issued a $0.37 dividend. The ex-dividend date is Thursday, December 27th. This represents a $1.48 dividend on an annualized basis and a yield of 9.67%. TCG BDC’s payout ratio is 85.06%.
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TCG BDC Profile
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.
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