TCG BDC Inc (NASDAQ:CGBD) Short Interest Update
TCG BDC Inc (NASDAQ:CGBD) saw a large decline in short interest in July. As of July 15th, there was short interest totalling 347,900 shares, a decline of 46.4% from the June 15th total of 648,900 shares. Based on an average trading volume of 356,800 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.6% of the company’s stock are short sold.
Institutional investors have recently made changes to their positions in the company. Wiley BROS. Aintree Capital LLC acquired a new stake in shares of TCG BDC during the 1st quarter valued at about $164,000. Millennium Management LLC lifted its holdings in shares of TCG BDC by 601.5% during the 4th quarter. Millennium Management LLC now owns 258,839 shares of the company’s stock valued at $3,210,000 after buying an additional 221,939 shares during the last quarter. PagnatoKarp Partners LLC lifted its holdings in shares of TCG BDC by 10.7% during the 1st quarter. PagnatoKarp Partners LLC now owns 1,086,201 shares of the company’s stock valued at $16,130,000 after buying an additional 104,679 shares during the last quarter. Sageworth Trust Co lifted its holdings in shares of TCG BDC by 0.6% during the 1st quarter. Sageworth Trust Co now owns 1,118,323 shares of the company’s stock valued at $16,194,000 after buying an additional 6,950 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of TCG BDC during the 4th quarter valued at about $336,000. Institutional investors and hedge funds own 26.82% of the company’s stock.
NASDAQ:CGBD traded up $0.12 on Friday, hitting $15.22. 400,515 shares of the company’s stock traded hands, compared to its average volume of 280,775. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 0.85. TCG BDC has a 1 year low of $12.19 and a 1 year high of $18.00. The firm’s 50-day simple moving average is $15.20. The firm has a market capitalization of $915.26 million, a P/E ratio of 8.80, a PEG ratio of 4.26 and a beta of 0.92.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, June 27th. This represents a $1.48 annualized dividend and a dividend yield of 9.72%. TCG BDC’s dividend payout ratio is 85.55%.
Several research firms have weighed in on CGBD. ValuEngine cut Valero Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $16.88.
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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