Zacks: TCG BDC, Inc. (CGBD) Receives Consensus Rating of “” from Analysts
Shares of TCG BDC, Inc. (NASDAQ:CGBD) have been given a consensus broker rating score of 1.25 (Strong Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company.
Brokerages have set a twelve-month consensus price objective of $19.25 for the company, according to Zacks. Zacks has also given TCG BDC an industry rank of 176 out of 265 based on the ratings given to its competitors.
CGBD has been the subject of a number of recent analyst reports. J P Morgan Chase & Co initiated coverage on TCG BDC in a research report on Monday, July 10th. They set an “overweight” rating and a $19.00 target price for the company. Bank of America Corporation initiated coverage on TCG BDC in a research report on Monday, July 10th. They set a “buy” rating and a $19.00 target price for the company. Keefe, Bruyette & Woods initiated coverage on TCG BDC in a research report on Monday, July 10th. They set an “outperform” rating and a $20.00 target price for the company. Finally, Wells Fargo & Company initiated coverage on TCG BDC in a research report on Monday, July 10th. They set an “outperform” rating and a $18.50 target price for the company.
Several hedge funds have recently added to or reduced their stakes in CGBD. Muzinich & Co. Inc. bought a new stake in TCG BDC during the second quarter worth $14,408,000. State of New Jersey Common Pension Fund D acquired a new position in TCG BDC during the second quarter worth approximately $9,906,000. Ares Management LLC acquired a new position in TCG BDC during the second quarter worth approximately $8,554,000. Ameriprise Financial Inc. acquired a new position in TCG BDC during the second quarter worth approximately $6,258,000. Finally, West Family Investments Inc. acquired a new position in TCG BDC during the second quarter worth approximately $5,403,000. Hedge funds and other institutional investors own 7.63% of the company’s stock.
TCG BDC (NASDAQ CGBD) remained flat at $18.50 on Friday. The company’s stock had a trading volume of 27,985 shares. TCG BDC has a 1-year low of $17.61 and a 1-year high of $18.65. The firm has a 50 day moving average price of $18.40 and a 200-day moving average price of $18.47.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, September 29th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.00%.
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About TCG BDC
TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.
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