TCG BDC, Inc. (CGBD) Given $19.25 Consensus Target Price by Brokerages
TCG BDC, Inc. (NASDAQ:CGBD) has earned a consensus broker rating score of 1.25 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation and three have given a strong buy recommendation to the company.
Brokerages have set a 1 year consensus target price of $19.25 for the company, according to Zacks. Zacks has also assigned TCG BDC an industry rank of 155 out of 265 based on the ratings given to related companies.
CGBD has been the topic of a number of research reports. J P Morgan Chase & Co initiated coverage on TCG BDC in a report on Monday, July 10th. They issued an “overweight” rating and a $19.00 price target on the stock. Wells Fargo & Company initiated coverage on TCG BDC in a report on Monday, July 10th. They issued an “outperform” rating and a $18.50 price target on the stock. Keefe, Bruyette & Woods initiated coverage on TCG BDC in a report on Monday, July 10th. They issued an “outperform” rating and a $20.00 price target on the stock. Bank of America Corporation initiated coverage on TCG BDC in a report on Monday, July 10th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Zacks Investment Research upgraded TCG BDC from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a report on Monday, September 11th.
Shares of TCG BDC (NASDAQ CGBD) opened at 18.68 on Friday. The stock’s 50 day moving average price is $18.64 and its 200-day moving average price is $18.45. TCG BDC has a 1-year low of $17.61 and a 1-year high of $19.25.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Friday, September 29th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.48 annualized dividend and a yield of 7.92%.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new stake in TCG BDC during the second quarter worth about $200,000. Goldman Sachs Group Inc. bought a new stake in TCG BDC during the second quarter worth about $571,000. Sumitomo Mitsui Asset Management Company LTD bought a new stake in TCG BDC during the second quarter worth about $1,987,000. West Family Investments Inc. bought a new stake in TCG BDC during the second quarter worth about $5,403,000. Finally, Ameriprise Financial Inc. bought a new stake in TCG BDC during the second quarter worth about $6,258,000. Institutional investors and hedge funds own 7.63% of the company’s stock.
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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