37,040 Shares in TCG BDC Inc (CGBD) Purchased by Wolverine Asset Management LLC
Wolverine Asset Management LLC purchased a new position in shares of TCG BDC Inc (NASDAQ:CGBD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,040 shares of the company’s stock, valued at approximately $630,000.
A number of other large investors have also recently added to or reduced their stakes in CGBD. Stanley Laman Group Ltd. acquired a new position in TCG BDC during the second quarter worth $172,000. Bingham Osborn & Scarborough LLC acquired a new position in TCG BDC during the second quarter worth $173,000. Citadel Advisors LLC acquired a new position in TCG BDC during the second quarter worth $197,000. Abbrea Capital LLC acquired a new position in TCG BDC during the first quarter worth $206,000. Finally, Great West Life Assurance Co. Can acquired a new position in TCG BDC during the first quarter worth $295,000. Institutional investors own 19.85% of the company’s stock.
CGBD has been the topic of a number of research reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $19.00 price target on shares of TCG BDC in a research note on Thursday, August 9th. Wells Fargo & Co cut TCG BDC from an “outperform” rating to a “market perform” rating and set a $18.50 price objective on the stock. in a research note on Wednesday, August 8th. Finally, Zacks Investment Research cut TCG BDC from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. TCG BDC presently has a consensus rating of “Hold” and an average target price of $18.88.
TCG BDC (NASDAQ:CGBD) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $52.45 million for the quarter, compared to analysts’ expectations of $46.60 million. TCG BDC had a return on equity of 9.32% and a net margin of 45.15%. analysts anticipate that TCG BDC Inc will post 1.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.64%. The ex-dividend date of this dividend is Thursday, September 27th. TCG BDC’s payout ratio is currently 85.06%.
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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