TCG BDC (CGBD) Reaches New 52-Week Low at $14.87

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TCG BDC Inc (NASDAQ:CGBD)’s share price hit a new 52-week low on Thursday . The stock traded as low as $14.87 and last traded at $14.95, with a volume of 8170 shares. The stock had previously closed at $15.31.

CGBD has been the subject of several research reports. Wells Fargo & Co raised their price target on shares of TCG BDC from $15.25 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, November 8th. ValuEngine raised shares of TCG BDC from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, Zacks Investment Research raised shares of TCG BDC from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Thursday, November 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.75.

The firm has a market cap of $936.03 million, a P/E ratio of 8.48, a P/E/G ratio of 4.49 and a beta of -0.07. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.91.

TCG BDC (NASDAQ:CGBD) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $51.28 million during the quarter, compared to the consensus estimate of $49.12 million. TCG BDC had a return on equity of 9.41% and a net margin of 33.51%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, equities research analysts anticipate that TCG BDC Inc will post 1.67 earnings per share for the current year.

The business also recently disclosed 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 annualized dividend and a dividend yield of 10.03%. The ex-dividend date of this dividend is Thursday, December 27th. TCG BDC’s payout ratio is presently 85.06%.

In related news, CEO Michael Anthony Hart acquired 6,500 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was bought at an average price of $15.64 per share, with a total value of $101,660.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders bought 17,050 shares of company stock valued at $262,771. 0.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in TCG BDC by 2.2% during the 3rd quarter. BlackRock Inc. now owns 304,369 shares of the company’s stock valued at $5,083,000 after purchasing an additional 6,499 shares during the last quarter. Van ECK Associates Corp lifted its holdings in TCG BDC by 1.7% during the 2nd quarter. Van ECK Associates Corp now owns 446,612 shares of the company’s stock valued at $7,601,000 after purchasing an additional 7,383 shares during the last quarter. Legal & General Group Plc lifted its holdings in TCG BDC by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 240,582 shares of the company’s stock valued at $4,035,000 after purchasing an additional 7,773 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in TCG BDC by 13.7% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 64,666 shares of the company’s stock valued at $1,101,000 after purchasing an additional 7,791 shares during the last quarter. Finally, Stanley Laman Group Ltd. acquired a new stake in TCG BDC during the 2nd quarter valued at $172,000. 21.27% of the stock is owned by institutional investors.

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About TCG BDC (NASDAQ:CGBD)

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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