Zacks: Analysts Set $19.13 Price Target for TCG BDC, Inc. (CGBD)
Shares of TCG BDC, Inc. (NASDAQ:CGBD) have received an average broker rating score of 1.25 (Strong Buy) from the four brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and three have given a strong buy recommendation to the company.
Analysts have set a 1-year consensus price target of $19.13 for the company and are expecting that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also given TCG BDC an industry rank of 110 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded shares of TCG BDC from a “sell” rating to a “hold” rating in a report on Thursday, February 8th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of TCG BDC by 3.6% during the third quarter. Ameriprise Financial Inc. now owns 360,000 shares of the company’s stock valued at $6,775,000 after purchasing an additional 12,500 shares during the period. Van ECK Associates Corp acquired a new position in shares of TCG BDC during the third quarter valued at about $8,410,000. Goldman Sachs Group Inc. acquired a new position in shares of TCG BDC during the second quarter valued at about $571,000. Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of TCG BDC by 74.9% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 193,008 shares of the company’s stock valued at $3,632,000 after purchasing an additional 82,639 shares during the period. Finally, Alyeska Investment Group L.P. raised its holdings in shares of TCG BDC by 1.8% during the third quarter. Alyeska Investment Group L.P. now owns 519,375 shares of the company’s stock valued at $9,775,000 after purchasing an additional 9,275 shares during the period. Hedge funds and other institutional investors own 9.32% of the company’s stock.
TCG BDC (NASDAQ:CGBD) traded up $0.24 during mid-day trading on Friday, reaching $18.10. 104,533 shares of the company traded hands, compared to its average volume of 126,072. The firm has a market capitalization of $1,140.00 and a price-to-earnings ratio of 11.60. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.76. TCG BDC has a 1-year low of $16.76 and a 1-year high of $20.30.
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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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