TCG BDC, Inc. (CGBD) Director Acquires $185,500.00 in Stock

TCG BDC, Inc. (NASDAQ:CGBD) Director John G. Nestor acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were acquired at an average cost of $18.55 per share, with a total value of $185,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

TCG BDC, Inc. (NASDAQ CGBD) traded down $0.04 during mid-day trading on Wednesday, reaching $18.47. 35,300 shares of the company’s stock traded hands, compared to its average volume of 93,730. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.89 and a quick ratio of 0.89. TCG BDC, Inc. has a 12-month low of $17.61 and a 12-month high of $19.25.

TCG BDC (NASDAQ:CGBD) last released its earnings results on Tuesday, November 7th. The company reported $0.41 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. The firm had revenue of $42.65 million during the quarter, compared to analysts’ expectations of $43.50 million. TCG BDC had a net margin of 50.18% and a return on equity of 8.82%. sell-side analysts expect that TCG BDC, Inc. will post 1.7 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, December 29th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.48 annualized dividend and a yield of 8.01%.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of TCG BDC from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $20.00 price objective on shares of TCG BDC in a research note on Friday, October 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $19.50.

A number of hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. grew its stake in TCG BDC by 1.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 519,375 shares of the company’s stock worth $9,775,000 after acquiring an additional 9,275 shares during the period. Susquehanna International Group LLP purchased a new stake in TCG BDC in the 2nd quarter worth approximately $200,000. Wells Fargo & Company MN grew its stake in TCG BDC by 508.3% in the 3rd quarter. Wells Fargo & Company MN now owns 14,295 shares of the company’s stock worth $269,000 after acquiring an additional 11,945 shares during the period. Kayne Anderson Capital Advisors LP purchased a new stake in TCG BDC in the 3rd quarter worth approximately $225,000. Finally, Ameriprise Financial Inc. grew its stake in TCG BDC by 3.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 360,000 shares of the company’s stock worth $6,775,000 after acquiring an additional 12,500 shares during the period. 9.14% of the stock is owned by hedge funds and other institutional investors.

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TCG BDC Company Profile

TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.

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