TCG BDC Inc (NASDAQ:CGBD) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 463,600 shares, an increase of 22.3% from the September 30th total of 379,200 shares. Based on an average daily trading volume, of 294,500 shares, the short-interest ratio is currently 1.6 days. Currently, 0.8% of the shares of the stock are sold short.
Several brokerages recently issued reports on CGBD. Keefe, Bruyette & Woods downgraded shares of TCG BDC from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $16.00 to $15.00 in a research report on Thursday, September 5th. Zacks Investment Research raised TCG BDC from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, ValuEngine raised TCG BDC from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.
NASDAQ:CGBD traded down $0.01 on Friday, hitting $13.46. 480,000 shares of the stock were exchanged, compared to its average volume of 294,837. TCG BDC has a 52 week low of $12.19 and a 52 week high of $15.69. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. The company’s 50-day moving average price is $14.10 and its 200 day moving average price is $14.65. The stock has a market capitalization of $798.45 million, a price-to-earnings ratio of 7.78, a P/E/G ratio of 3.81 and a beta of 0.93.
TCG BDC (NASDAQ:CGBD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. TCG BDC had a return on equity of 10.82% and a net margin of 14.87%. The firm had revenue of $55.78 million during the quarter, compared to the consensus estimate of $53.96 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The business’s revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts predict that TCG BDC will post 1.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 11.00%. The ex-dividend date of this dividend is Monday, December 30th. TCG BDC’s dividend payout ratio (DPR) is currently 85.55%.
Large investors have recently added to or reduced their stakes in the business. AllSquare Wealth Management LLC acquired a new position in TCG BDC during the 2nd quarter worth approximately $26,000. Tower Research Capital LLC TRC boosted its position in TCG BDC by 191.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,198 shares of the company’s stock worth $33,000 after acquiring an additional 1,445 shares during the last quarter. Whittier Trust Co. acquired a new position in TCG BDC during the 2nd quarter worth approximately $68,000. Quantamental Technologies LLC boosted its position in TCG BDC by 19.3% during the 2nd quarter. Quantamental Technologies LLC now owns 4,920 shares of the company’s stock worth $75,000 after acquiring an additional 795 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC acquired a new position in TCG BDC during the 2nd quarter worth approximately $77,000. 31.19% of the stock is owned by hedge funds and other institutional investors.
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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