Abbrea Capital LLC Reduces Position in TCG BDC Inc (CGBD)
Abbrea Capital LLC lowered its stake in shares of TCG BDC Inc (NASDAQ:CGBD) by 46.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,558 shares of the company’s stock after selling 14,114 shares during the quarter. Abbrea Capital LLC’s holdings in TCG BDC were worth $246,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in TCG BDC by 9.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,000 shares of the company’s stock worth $211,000 after acquiring an additional 1,450 shares during the period. Mckinley Capital Management LLC Delaware increased its position in TCG BDC by 1.2% during the first quarter. Mckinley Capital Management LLC Delaware now owns 147,231 shares of the company’s stock worth $2,132,000 after acquiring an additional 1,704 shares during the period. Great West Life Assurance Co. Can increased its position in TCG BDC by 13.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 17,646 shares of the company’s stock worth $211,000 after acquiring an additional 2,076 shares during the period. Eagle Global Advisors LLC boosted its stake in TCG BDC by 19.0% during the fourth quarter. Eagle Global Advisors LLC now owns 16,670 shares of the company’s stock worth $207,000 after buying an additional 2,660 shares in the last quarter. Finally, Quantamental Technologies LLC boosted its stake in TCG BDC by 204.4% during the first quarter. Quantamental Technologies LLC now owns 4,125 shares of the company’s stock worth $60,000 after buying an additional 2,770 shares in the last quarter. 26.94% of the stock is currently owned by institutional investors and hedge funds.
In other TCG BDC news, Director John G. Nestor purchased 6,800 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were purchased at an average price of $14.63 per share, for a total transaction of $99,484.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.12% of the stock is owned by insiders.
TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. TCG BDC had a net margin of 24.05% and a return on equity of 10.19%. The firm had revenue of $55.19 million for the quarter, compared to the consensus estimate of $56.70 million. During the same quarter in the previous year, the company earned ($0.02) earnings per share. On average, sell-side analysts anticipate that TCG BDC Inc will post 1.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.48 dividend on an annualized basis and a yield of 9.99%. TCG BDC’s dividend payout ratio is currently 85.55%.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of TCG BDC from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. ValuEngine upgraded shares of TCG BDC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.13.
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TCG BDC Profile
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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