Advisory Alpha LLC purchased a new position in TCG BDC Inc (NASDAQ:CGBD) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 2,327 shares of the company’s stock, valued at approximately $36,000.
A number of other hedge funds and other institutional investors have also modified their holdings of CGBD. Suntrust Banks Inc. increased its position in TCG BDC by 35.1% in the 4th quarter. Suntrust Banks Inc. now owns 1,177,335 shares of the company’s stock worth $14,599,000 after buying an additional 305,623 shares during the period. Bank of Montreal Can bought a new position in TCG BDC in the 1st quarter worth approximately $3,707,000. Millennium Management LLC increased its position in TCG BDC by 601.5% in the 4th quarter. Millennium Management LLC now owns 258,839 shares of the company’s stock worth $3,210,000 after buying an additional 221,939 shares during the period. Two Sigma Investments LP bought a new position in TCG BDC in the 4th quarter worth approximately $2,597,000. Finally, First Trust Advisors LP bought a new position in TCG BDC in the 4th quarter worth approximately $1,623,000. 26.76% of the stock is currently owned by institutional investors.
Several research analysts have commented on the company. Zacks Investment Research raised TCG BDC from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. ValuEngine upgraded TCG BDC from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.13.
CGBD opened at $15.19 on Friday. The company has a market cap of $909.15 million, a PE ratio of 8.78, a PEG ratio of 4.24 and a beta of 0.89. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04. TCG BDC Inc has a 1 year low of $12.19 and a 1 year high of $18.00.
TCG BDC (NASDAQ:CGBD) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $55.19 million for the quarter, compared to analysts’ expectations of $56.70 million. TCG BDC had a return on equity of 10.19% and a net margin of 24.05%. During the same period in the previous year, the business posted ($0.02) earnings per share. As a group, research analysts predict that TCG BDC Inc will post 1.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.74%. The ex-dividend date of this dividend is Thursday, June 27th. TCG BDC’s dividend payout ratio is presently 85.55%.
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TCG BDC Company 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.
Further Reading: How mutual funds make money
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