Virtus ETF Advisers LLC Purchases New Position in TCG BDC Inc (NASDAQ:CGBD)
Virtus ETF Advisers LLC purchased a new stake in shares of TCG BDC Inc (NASDAQ:CGBD) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 187,375 shares of the company’s stock, valued at approximately $2,856,000. Virtus ETF Advisers LLC owned 0.31% of TCG BDC at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in CGBD. AllSquare Wealth Management LLC bought a new stake in TCG BDC during the second quarter worth about $26,000. Advisory Alpha LLC bought a new stake in TCG BDC during the first quarter worth about $36,000. Whittier Trust Co. bought a new stake in TCG BDC during the second quarter worth about $68,000. Quantamental Technologies LLC boosted its stake in TCG BDC by 19.3% during the second quarter. Quantamental Technologies LLC now owns 4,920 shares of the company’s stock worth $75,000 after acquiring an additional 795 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC bought a new stake in TCG BDC during the second quarter worth about $77,000. Institutional investors own 32.15% of the company’s stock.
Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered shares of TCG BDC from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $16.00 to $15.00 in a research note on Thursday, September 5th. Zacks Investment Research raised shares of TCG BDC from a “sell” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, ValuEngine lowered shares of TCG BDC from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.88.
TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. The business had revenue of $56.87 million for the quarter, compared to analyst estimates of $57.06 million. TCG BDC had a net margin of 22.04% and a return on equity of 10.40%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts forecast that TCG BDC Inc will post 1.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.37 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.48 annualized dividend and a dividend yield of 9.95%. TCG BDC’s dividend payout ratio is presently 85.55%.
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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