TCG BDC (CGBD) Lowered to “Sell” at ValuEngine

ValuEngine downgraded shares of TCG BDC (NASDAQ:CGBD) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods restated a buy rating and set a $19.00 price target on shares of TCG BDC in a research report on Thursday, August 9th. Zacks Investment Research upgraded shares of TCG BDC from a hold rating to a buy rating and set a $19.00 price target for the company in a research report on Monday, July 9th. Finally, Wells Fargo & Co reduced their price target on shares of TCG BDC from $17.75 to $15.00 and set a market perform rating for the company in a research report on Thursday, October 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. TCG BDC presently has an average rating of Hold and a consensus target price of $18.00.

CGBD opened at $15.87 on Monday. The stock has a market cap of $1.04 billion, a P/E ratio of 9.12, a P/E/G ratio of 5.07 and a beta of -0.54. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.53 and a quick ratio of 0.53. TCG BDC has a fifty-two week low of $15.84 and a fifty-two week high of $20.30.

TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The company had revenue of $52.45 million during the quarter, compared to analyst estimates of $46.60 million. TCG BDC had a net margin of 45.15% and a return on equity of 9.32%. Analysts predict that TCG BDC will post 1.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Investors of record on Friday, September 28th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.48 annualized dividend and a yield of 9.33%. TCG BDC’s payout ratio is currently 85.06%.

A number of institutional investors and hedge funds have recently bought and sold shares of CGBD. Stanley Laman Group Ltd. bought a new position in TCG BDC during the second quarter valued at about $172,000. Bingham Osborn & Scarborough LLC purchased a new stake in TCG BDC during the second quarter valued at about $173,000. Citadel Advisors LLC purchased a new stake in TCG BDC during the second quarter valued at about $197,000. Sterling Capital Management LLC purchased a new stake in TCG BDC during the second quarter valued at about $207,000. Finally, Bank of America Corp DE lifted its holdings in TCG BDC by 201.7% during the second quarter. Bank of America Corp DE now owns 16,757 shares of the company’s stock valued at $285,000 after purchasing an additional 11,202 shares during the last quarter. Institutional investors own 19.85% of the company’s stock.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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