TCG BDC (NASDAQ:CGBD) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of TCG BDC (NASDAQ:CGBD) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $16.00 price target on the stock.

According to Zacks, “TCG BDC, Inc. is an externally managed specialty finance company. It focused on providing flexible financing solutions to middle market companies primarily located in the United States. TCG BDC, Inc. is based in New York, United States. “

Separately, TheStreet raised TCG BDC from a c rating to a b- rating in a report on Monday, August 23rd.

TCG BDC stock opened at $13.82 on Wednesday. The stock has a 50-day moving average of $13.84 and a two-hundred day moving average of $13.69. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.22 and a current ratio of 1.22. TCG BDC has a one year low of $10.11 and a one year high of $14.40. The stock has a market cap of $740.05 million, a PE ratio of 5.04 and a beta of 1.99.

TCG BDC (NASDAQ:CGBD) last released its quarterly earnings results on Tuesday, November 2nd. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. TCG BDC had a return on equity of 10.02% and a net margin of 100.42%. As a group, sell-side analysts predict that TCG BDC will post 1.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Friday, December 31st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 9.26%. The ex-dividend date is Thursday, December 30th. TCG BDC’s dividend payout ratio (DPR) is 46.72%.

A number of institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can grew its holdings in TCG BDC by 6.6% during the second quarter. Great West Life Assurance Co. Can now owns 17,869 shares of the company’s stock worth $235,000 after acquiring an additional 1,114 shares during the period. Millennium Management LLC grew its holdings in TCG BDC by 5.4% during the second quarter. Millennium Management LLC now owns 37,203 shares of the company’s stock worth $491,000 after acquiring an additional 1,903 shares during the period. First Trust Advisors LP grew its holdings in TCG BDC by 1.5% during the first quarter. First Trust Advisors LP now owns 132,838 shares of the company’s stock worth $1,923,000 after acquiring an additional 1,955 shares during the period. Envestnet Asset Management Inc. grew its holdings in TCG BDC by 9.9% during the second quarter. Envestnet Asset Management Inc. now owns 28,716 shares of the company’s stock worth $379,000 after acquiring an additional 2,579 shares during the period. Finally, LPL Financial LLC grew its holdings in TCG BDC by 20.0% in the third quarter. LPL Financial LLC now owns 17,120 shares of the company’s stock valued at $230,000 after purchasing an additional 2,856 shares during the period. 34.78% of the stock is currently owned by hedge funds and other institutional investors.

TCG BDC Company Profile

TCG BDC is an externally managed specialty finance company focused on lending to middle-market companies. TCG BDC is managed by Carlyle GMS Investment Management LLC, an SEC-registered investment adviser and a wholly owned subsidiary of The Carlyle Group L.P. Since it commenced investment operations in May 2013 through March 31, 2017, TCG BDC has invested more than $2.4 billion in aggregate principal amount of debt and equity investments prior to any subsequent exits or repayments.

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