Zacks Investment Research upgraded shares of TCG BDC (NASDAQ:CGBD) from a hold rating to a buy rating in a report issued on Tuesday morning, Zacks.com reports. They currently have $17.00 target price 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 lowered shares of Valero Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. TCG BDC presently has a consensus rating of Buy and an average target price of $16.88.
TCG BDC (NASDAQ:CGBD) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $55.19 million during the quarter, compared to analyst estimates of $56.70 million. TCG BDC had a net margin of 24.05% and a return on equity of 10.19%. During the same period in the previous year, the business earned ($0.02) EPS. Research analysts forecast that TCG BDC will post 1.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 9.68%. The ex-dividend date of this dividend is Thursday, June 27th. TCG BDC’s dividend payout ratio is presently 85.55%.
Institutional investors have recently bought and sold shares of the business. Advisory Alpha LLC bought a new stake in TCG BDC in the first quarter worth $36,000. Quantamental Technologies LLC lifted its stake in TCG BDC by 204.4% in the first quarter. Quantamental Technologies LLC now owns 4,125 shares of the company’s stock worth $60,000 after purchasing an additional 2,770 shares during the last quarter. Synovus Financial Corp lifted its stake in TCG BDC by 32.7% in the first quarter. Synovus Financial Corp now owns 5,773 shares of the company’s stock worth $84,000 after purchasing an additional 1,421 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in TCG BDC in the fourth quarter worth $73,000. Finally, Advisor Group Inc. lifted its stake in TCG BDC by 1,413.2% in the fourth quarter. Advisor Group Inc. now owns 6,658 shares of the company’s stock worth $83,000 after purchasing an additional 6,218 shares during the last quarter. 26.76% of the stock is owned by institutional investors and hedge funds.
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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