BlackRock Inc. cut its holdings in shares of TCG BDC Inc (NASDAQ:CGBD) by 15.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 297,870 shares of the company’s stock after selling 53,642 shares during the quarter. BlackRock Inc. owned approximately 0.48% of TCG BDC worth $5,070,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CGBD. Wells Fargo & Company MN lifted its holdings in TCG BDC by 106.0% during the first quarter. Wells Fargo & Company MN now owns 90,532 shares of the company’s stock valued at $1,620,000 after purchasing an additional 46,585 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in TCG BDC by 148.3% during the first quarter. Guggenheim Capital LLC now owns 60,905 shares of the company’s stock valued at $1,090,000 after purchasing an additional 36,375 shares during the last quarter. Mckinley Capital Management LLC Delaware lifted its holdings in TCG BDC by 10.7% during the second quarter. Mckinley Capital Management LLC Delaware now owns 155,022 shares of the company’s stock valued at $2,638,000 after purchasing an additional 14,987 shares during the last quarter. Sageworth Trust Co lifted its holdings in TCG BDC by 187.1% during the second quarter. Sageworth Trust Co now owns 416,986 shares of the company’s stock valued at $7,098,000 after purchasing an additional 271,723 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC purchased a new stake in TCG BDC during the second quarter valued at about $173,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on CGBD shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $19.00 price objective on shares of TCG BDC in a report on Thursday, August 9th. Zacks Investment Research raised shares of TCG BDC from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Wednesday, October 24th. ValuEngine raised shares of TCG BDC from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Wells Fargo & Co dropped their price objective on shares of TCG BDC from $17.75 to $15.00 and set a “market perform” rating on the stock in a report on Thursday, October 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. TCG BDC has a consensus rating of “Buy” and an average target price of $18.00.
Shares of TCG BDC stock opened at $15.97 on Friday. TCG BDC Inc has a 12-month low of $15.27 and a 12-month high of $20.30. The stock has a market capitalization of $1.00 billion, a PE ratio of 9.18, a PEG ratio of 4.81 and a beta of -0.05. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.76.
TCG BDC (NASDAQ:CGBD) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. TCG BDC had a net margin of 33.51% and a return on equity of 9.36%. The firm had revenue of $51.28 million for the quarter, compared to the consensus estimate of $49.12 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts anticipate that TCG BDC Inc will post 1.67 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 17th. Stockholders of record on Friday, December 28th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.27%. The ex-dividend date is Thursday, December 27th. TCG BDC’s payout ratio is 85.06%.
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About TCG BDC
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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