TCG BDC (CGBD) Downgraded by Zacks Investment Research to Sell

TCG BDC (NASDAQ:CGBD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to 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. “

Separately, Keefe, Bruyette & Woods restated a “buy” rating and set a $20.00 price target on shares of TCG BDC in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. TCG BDC presently has a consensus rating of “Buy” and an average price target of $19.50.

TCG BDC (CGBD) traded up $0.05 on Friday, reaching $18.47. 79,741 shares of the company were exchanged, compared to its average volume of 228,033. The firm has a market capitalization of $1,140.00 and a price-to-earnings ratio of 11.84. TCG BDC has a 52-week low of $16.97 and a 52-week high of $20.30. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.76.

TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $42.65 million for the quarter, compared to analyst estimates of $43.50 million. TCG BDC had a net margin of 50.18% and a return on equity of 8.82%. equities analysts anticipate that TCG BDC will post 1.7 EPS for the current year.

In other TCG BDC news, Director John G. Nestor purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were purchased at an average cost of $18.55 per share, for a total transaction of $185,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its position in TCG BDC by 3.6% during the third quarter. Ameriprise Financial Inc. now owns 360,000 shares of the company’s stock worth $6,775,000 after acquiring an additional 12,500 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in TCG BDC by 74.9% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 193,008 shares of the company’s stock worth $3,632,000 after purchasing an additional 82,639 shares during the period. Van ECK Associates Corp purchased a new position in TCG BDC during the third quarter worth about $8,410,000. Goldman Sachs Group Inc. purchased a new position in TCG BDC during the second quarter worth about $571,000. Finally, Alyeska Investment Group L.P. raised its stake in TCG BDC by 1.8% during the third quarter. Alyeska Investment Group L.P. now owns 519,375 shares of the company’s stock worth $9,775,000 after purchasing an additional 9,275 shares during the period. Hedge funds and other institutional investors own 9.14% of the company’s stock.

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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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