Zacks: Brokerages Set $19.25 Price Target for TCG BDC, Inc. (CGBD)
Shares of TCG BDC, Inc. (NASDAQ:CGBD) have received a consensus broker rating score of 1.25 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company.
Brokers have set a 12-month consensus price objective of $19.25 for the company, according to Zacks. Zacks has also given TCG BDC an industry rank of 178 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have weighed in on CGBD shares. J P Morgan Chase & Co started coverage on TCG BDC in a research note on Monday, July 10th. They issued an “overweight” rating and a $19.00 price objective for the company. Wells Fargo & Company began coverage on TCG BDC in a report on Monday, July 10th. They set an “outperform” rating and a $18.50 price objective on the stock. Keefe, Bruyette & Woods began coverage on TCG BDC in a report on Monday, July 10th. They set an “outperform” rating and a $20.00 price objective on the stock. Bank of America Corporation started coverage on TCG BDC in a report on Monday, July 10th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Zacks Investment Research raised TCG BDC from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Monday, September 11th.
Hedge funds have recently bought and sold shares of the company. Muzinich & Co. Inc. acquired a new stake in TCG BDC during the 2nd quarter valued at approximately $14,408,000. State of New Jersey Common Pension Fund D bought a new position in TCG BDC during the 2nd quarter worth approximately $9,906,000. Ares Management LLC bought a new position in TCG BDC during the 2nd quarter worth approximately $8,554,000. Ameriprise Financial Inc. bought a new position in TCG BDC during the 2nd quarter worth approximately $6,258,000. Finally, West Family Investments Inc. bought a new position in TCG BDC during the 2nd quarter worth approximately $5,403,000. Institutional investors and hedge funds own 7.63% of the company’s stock.
Shares of TCG BDC (CGBD) traded down 0.49% during trading on Friday, hitting $18.41. 628,753 shares of the company traded hands. TCG BDC has a 52-week low of $17.61 and a 52-week high of $22.02. The company has a 50-day moving average of $18.45 and a 200-day moving average of $18.46.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, September 29th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.04%.
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About TCG BDC
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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