Zacks Investment Research cut shares of TCG BDC, Inc. (NASDAQ:CGBD) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “TCG BDC, Inc. is an externally managed specialty finance company. It focused on providing flexible financing solutions to middle market companies primarily located in the United States. TCG BDC, Inc. is based in New York, United States. “

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods restated a buy rating and issued a $20.00 target price on shares of TCG BDC in a research note on Friday, October 6th. 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 on the stock. 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 on the stock. Finally, 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 on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $19.50.

TCG BDC (NASDAQ CGBD) traded up 0.38% during mid-day trading on Wednesday, reaching $18.73. The company had a trading volume of 42,434 shares. The stock has a 50 day moving average price of $18.62 and a 200-day moving average price of $18.44. TCG BDC has a 12-month low of $17.61 and a 12-month high of $19.25.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, September 29th will be paid a $0.37 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.48 dividend on an annualized basis and a yield of 7.90%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP bought a new position in TCG BDC in the 2nd quarter worth about $200,000. Goldman Sachs Group Inc. bought a new position in TCG BDC in the 2nd quarter worth about $571,000. Sumitomo Mitsui Asset Management Company LTD bought a new position in TCG BDC in the 2nd quarter worth about $1,987,000. West Family Investments Inc. bought a new position in TCG BDC in the 2nd quarter worth about $5,403,000. Finally, Ameriprise Financial Inc. bought a new position in TCG BDC in the 2nd quarter worth about $6,258,000. Institutional investors and hedge funds own 7.63% of the company’s stock.

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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