TCG BDC Inc (NASDAQ:CGBD) CFO Thomas M. Hennigan acquired 800 shares of the stock in a transaction dated Thursday, December 6th. The stock was bought at an average cost of $14.92 per share, with a total value of $11,936.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of NASDAQ:CGBD traded down $0.21 during 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 firm has a market capitalization of $936.03 million, a price-to-earnings ratio of 8.48, a PEG ratio of 4.49 and a beta of -0.07. TCG BDC Inc has a one year low of $14.87 and a one year high of $20.30. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.63 and a quick ratio of 2.63.
TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. The business had revenue of $51.28 million during the quarter, compared to analyst estimates of $49.12 million. TCG BDC had a return on equity of 9.41% and a net margin of 33.51%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. As a group, analysts expect that TCG BDC Inc will post 1.67 earnings per share for the current fiscal 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 paid 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 85.06%.
Several large investors have recently bought and sold shares of CGBD. Morgan Stanley raised its holdings in shares of TCG BDC by 15.7% in the third quarter. Morgan Stanley now owns 1,204,384 shares of the company’s stock worth $20,114,000 after buying an additional 163,878 shares during the period. Newport Trust Co purchased a new stake in shares of TCG BDC in the third quarter worth approximately $13,038,000. Sageworth Trust Co raised its holdings in shares of TCG BDC by 46.7% in the third quarter. Sageworth Trust Co now owns 611,849 shares of the company’s stock worth $10,218,000 after buying an additional 194,863 shares during the period. Van ECK Associates Corp raised its holdings in shares of TCG BDC by 1.7% in the second quarter. Van ECK Associates Corp now owns 446,612 shares of the company’s stock worth $7,601,000 after buying an additional 7,383 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of TCG BDC by 2.2% in the third quarter. BlackRock Inc. now owns 304,369 shares of the company’s stock worth $5,083,000 after buying an additional 6,499 shares during the period. 21.27% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on CGBD. Zacks Investment Research raised TCG BDC from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, December 3rd. ValuEngine lowered TCG BDC from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. Finally, Wells Fargo & Co raised their price objective on TCG BDC from $15.25 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $17.75.
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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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