TCG BDC, Inc. (NASDAQ:CGBD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

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. “

Several other equities research analysts have also recently weighed in on the stock. Bank of America Corporation started coverage on shares of TCG BDC in a research report on Monday, July 10th. They issued a “buy” rating and a $19.00 price objective for the company. Keefe, Bruyette & Woods started coverage on shares of TCG BDC in a research report on Monday, July 10th. They issued an “outperform” rating and a $20.00 price objective for the company. J P Morgan Chase & Co started coverage on shares of TCG BDC in a research report on Monday, July 10th. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, Wells Fargo & Company started coverage on shares of TCG BDC in a research report on Monday, July 10th. They issued an “outperform” rating and a $18.50 price objective for the company. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. TCG BDC has an average rating of “Buy” and an average price target of $19.50.

TCG BDC (CGBD) traded down $0.19 on Friday, reaching $18.30. 29,793 shares of the company’s stock traded hands, compared to its average volume of 70,974.

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A number of institutional investors and hedge funds have recently bought and sold shares of CGBD. Susquehanna International Group LLP acquired a new stake in shares of TCG BDC during the 2nd quarter worth approximately $200,000. Goldman Sachs Group Inc. acquired a new stake in shares of TCG BDC during the 2nd quarter worth approximately $571,000. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of TCG BDC during the 2nd quarter worth approximately $1,987,000. West Family Investments Inc. acquired a new stake in shares of TCG BDC during the 2nd quarter worth approximately $5,403,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of TCG BDC during the 2nd quarter worth approximately $6,258,000. Hedge funds and other institutional investors own 7.63% of the company’s stock.

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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