TCG BDC, Inc. (NASDAQ:CGBD)‘s stock had its “buy” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report issued on Friday. They currently have a $20.00 price objective on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 6.55% from the stock’s previous close.

Several other research firms have also commented on CGBD. J P Morgan Chase & Co started coverage on TCG BDC in a research note on Monday, July 10th. They issued an “overweight” rating and a $19.00 target price for the company. Zacks Investment Research upgraded TCG BDC from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Monday, September 11th. Bank of America Corporation started coverage on TCG BDC in a research note on Monday, July 10th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Wells Fargo & Company started coverage on TCG BDC in a research note on Monday, July 10th. They issued an “outperform” rating and a $18.50 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $19.50.

TCG BDC (CGBD) traded down 0.27% during trading on Friday, hitting $18.72. The stock had a trading volume of 14,131 shares. The stock’s 50-day moving average is $18.56 and its 200 day moving average is $18.42. TCG BDC has a one year low of $17.61 and a one year high of $19.25. The firm’s market cap is $1.16 billion.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP purchased a new stake in TCG BDC during the second quarter valued at about $200,000. Ares Management LLC purchased a new stake in TCG BDC during the second quarter valued at about $8,554,000. Goldman Sachs Group Inc. purchased a new stake in TCG BDC during the second quarter valued at about $571,000. Muzinich & Co. Inc. purchased a new stake in TCG BDC during the second quarter valued at about $14,408,000. Finally, Ameriprise Financial Inc. purchased a new stake in TCG BDC during the second quarter valued at about $6,258,000. Hedge funds and other institutional investors own 7.63% of the company’s stock.

TCG BDC Company Profile

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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