Michael Anthony Hart Purchases 6,500 Shares of TCG BDC Inc (CGBD) Stock

TCG BDC Inc (NASDAQ:CGBD) CEO Michael Anthony Hart acquired 6,500 shares of the stock in a transaction dated Thursday, November 29th. The stock was acquired at an average price of $15.47 per share, with a total value of $100,555.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of CGBD opened at $15.50 on Friday. The company has a market capitalization of $969.82 million, a PE ratio of 9.17, a price-to-earnings-growth ratio of 4.65 and a beta of -0.05. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.63 and a quick ratio of 2.63. TCG BDC Inc has a fifty-two week low of $15.04 and a fifty-two week high of $20.30.

TCG BDC (NASDAQ:CGBD) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The firm had revenue of $51.28 million during the quarter, compared to analyst estimates of $49.12 million. TCG BDC had a net margin of 33.51% and a return on equity of 9.41%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. Equities research analysts expect that TCG BDC Inc will post 1.67 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Stockholders of record on Friday, December 28th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.55%. TCG BDC’s payout ratio is 85.06%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley raised its holdings in TCG BDC by 15.7% during the 3rd quarter. Morgan Stanley now owns 1,204,384 shares of the company’s stock valued at $20,114,000 after buying an additional 163,878 shares during the last quarter. Legal & General Group Plc raised its holdings in TCG BDC by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 240,582 shares of the company’s stock valued at $4,035,000 after buying an additional 7,773 shares during the last quarter. HPM Partners LLC raised its holdings in TCG BDC by 120.0% during the 3rd quarter. HPM Partners LLC now owns 49,457 shares of the company’s stock valued at $826,000 after buying an additional 26,975 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in TCG BDC by 79.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,098 shares of the company’s stock valued at $1,538,000 after buying an additional 40,787 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in TCG BDC during the 3rd quarter valued at $260,000. Hedge funds and other institutional investors own 21.53% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of TCG BDC from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. ValuEngine lowered shares of TCG BDC from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Wells Fargo & Co lowered their price objective on shares of TCG BDC from $17.75 to $15.00 and set a “market perform” rating for the company in a report on Thursday, October 4th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $19.00 price objective on shares of TCG BDC in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. TCG BDC has a consensus rating of “Hold” and an average price target of $18.00.

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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.

See Also: Ex-Dividend

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