Zacks Investment Research upgraded shares of TCG BDC (NASDAQ:CGBD) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. The firm currently has $17.00 price objective 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, ValuEngine cut shares of Valero Energy from a hold rating to a sell rating in a report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $16.88.
Shares of CGBD opened at $15.29 on Tuesday. The stock has a market capitalization of $926.78 million, a PE ratio of 8.59, a PEG ratio of 4.31 and a beta of 0.92. 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 has a fifty-two week low of $12.19 and a fifty-two week high of $18.00. The business has a 50-day simple moving average of $15.08.
TCG BDC (NASDAQ:CGBD) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 net margin of 24.05% and a return on equity of 10.19%. During the same quarter in the prior year, the company earned ($0.02) earnings per share. On average, sell-side analysts forecast that TCG BDC will post 1.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 9.68%. The ex-dividend date is Thursday, June 27th. TCG BDC’s dividend payout ratio (DPR) is presently 85.55%.
Large investors have recently bought and sold shares of the company. Advisory Alpha LLC purchased a new stake in shares of TCG BDC during the first quarter valued at approximately $36,000. Quantamental Technologies LLC grew its holdings in shares of TCG BDC by 204.4% during the first quarter. Quantamental Technologies LLC now owns 4,125 shares of the company’s stock valued at $60,000 after buying an additional 2,770 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of TCG BDC during the fourth quarter valued at approximately $73,000. Advisor Group Inc. grew its holdings in shares of TCG BDC by 1,413.2% during the fourth quarter. Advisor Group Inc. now owns 6,658 shares of the company’s stock valued at $83,000 after buying an additional 6,218 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in shares of TCG BDC by 32.7% during the first quarter. Synovus Financial Corp now owns 5,773 shares of the company’s stock valued at $84,000 after buying an additional 1,421 shares during the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.
About TCG BDC
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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