TCG BDC Inc (NASDAQ:CGBD) CFO Thomas M. Hennigan purchased 800 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were purchased at an average price of $14.92 per share, for a total transaction of $11,936.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
TCG BDC stock traded down $0.21 during mid-day trading on Friday, hitting $14.75. The company had a trading volume of 525,155 shares, compared to its average volume of 194,899. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.91. TCG BDC Inc has a 12 month low of $14.87 and a 12 month high of $20.30. The company has a market capitalization of $936.03 million, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 4.49 and a beta of -0.07.
TCG BDC (NASDAQ:CGBD) last released its earnings results on Wednesday, November 7th. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. TCG BDC had a return on equity of 9.41% and a net margin of 33.51%. The business had revenue of $51.28 million for the quarter, compared to the consensus estimate of $49.12 million. During the same period in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities research analysts predict that TCG BDC Inc will post 1.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Friday, December 28th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 10.03%. The ex-dividend date of this dividend is Thursday, December 27th. TCG BDC’s dividend payout ratio (DPR) is 85.06%.
CGBD has been the topic of several research reports. Wells Fargo & Co dropped their price target on TCG BDC from $17.75 to $15.00 and set a “market perform” rating on the stock in a research report on Thursday, October 4th. ValuEngine lowered TCG BDC from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Finally, Zacks Investment Research upgraded TCG BDC from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $17.75.
Institutional investors have recently added to or reduced their stakes in the business. Stanley Laman Group Ltd. bought a new stake in TCG BDC in the second quarter worth $172,000. Citadel Advisors LLC bought a new stake in TCG BDC in the second quarter worth $197,000. Sterling Capital Management LLC bought a new stake in TCG BDC in the second quarter worth $207,000. CIBC World Markets Inc. bought a new stake in TCG BDC in the third quarter worth $245,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in TCG BDC in the third quarter worth $260,000. 21.27% of the stock is currently owned by institutional investors and hedge funds.
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TCG BDC Company Profile
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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