TCG BDC (NASDAQ:CGBD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

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. “

A number of other equities analysts have also commented on CGBD. Keefe, Bruyette & Woods lowered shares of TCG BDC from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $16.00 to $15.00 in a research note on Thursday, September 5th. ValuEngine lowered shares of TCG BDC from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $15.88.

TCG BDC stock traded up $0.04 during midday trading on Friday, reaching $14.91. The stock had a trading volume of 177,364 shares, compared to its average volume of 342,030. The firm’s fifty day simple moving average is $14.41 and its two-hundred day simple moving average is $14.83. TCG BDC has a twelve month low of $12.19 and a twelve month high of $17.32. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap of $890.95 million, a price-to-earnings ratio of 8.62, a PEG ratio of 4.16 and a beta of 0.93.

TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. TCG BDC had a net margin of 22.04% and a return on equity of 10.40%. The firm had revenue of $56.87 million during the quarter, compared to analyst estimates of $57.06 million. During the same quarter last year, the business posted $0.45 EPS. As a group, sell-side analysts predict that TCG BDC will post 1.77 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Wolverine Trading LLC purchased a new stake in TCG BDC in the 2nd quarter worth approximately $175,000. LGL Partners LLC purchased a new stake in TCG BDC in the 2nd quarter worth approximately $248,000. Voloridge Investment Management LLC purchased a new stake in TCG BDC in the 2nd quarter worth approximately $283,000. Citadel Advisors LLC lifted its position in TCG BDC by 2.0% in the 2nd quarter. Citadel Advisors LLC now owns 209,386 shares of the company’s stock worth $3,191,000 after buying an additional 4,072 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in TCG BDC by 373.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 317,677 shares of the company’s stock worth $4,841,000 after buying an additional 250,510 shares in the last quarter. Institutional investors own 32.15% of the company’s stock.

TCG BDC Company 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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