FineMark National Bank & Trust acquired a new position in shares of TCG BDC Inc (NASDAQ:CGBD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,482 shares of the company’s stock, valued at approximately $441,000.
A number of other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in TCG BDC by 9.3% during the 4th 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 stake in shares of TCG BDC by 1.2% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 147,231 shares of the company’s stock valued at $2,132,000 after purchasing an additional 1,704 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of TCG BDC by 13.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 17,646 shares of the company’s stock valued at $211,000 after purchasing an additional 2,076 shares during the last quarter. Eagle Global Advisors LLC increased its stake in shares of TCG BDC by 19.0% in the 4th quarter. Eagle Global Advisors LLC now owns 16,670 shares of the company’s stock valued at $207,000 after purchasing an additional 2,660 shares during the last quarter. Finally, Quantamental Technologies LLC increased its stake in shares of TCG BDC by 204.4% in the 1st quarter. Quantamental Technologies LLC now owns 4,125 shares of the company’s stock valued at $60,000 after purchasing an additional 2,770 shares during the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.
Shares of NASDAQ CGBD traded up $0.08 during mid-day trading on Tuesday, hitting $14.94. 260,939 shares of the stock traded hands, compared to its average volume of 332,899. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.04. TCG BDC Inc has a twelve month low of $12.19 and a twelve month high of $18.00. The company has a market cap of $900.11 million, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 4.22 and a beta of 0.89.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 17th. Investors of record on Friday, June 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 9.91%. The ex-dividend date of this dividend is Thursday, June 27th. TCG BDC’s dividend payout ratio (DPR) is 85.55%.
Several brokerages have recently issued reports on CGBD. Zacks Investment Research upgraded TCG BDC from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. ValuEngine upgraded TCG BDC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. TCG BDC has an average rating of “Hold” and a consensus target price of $16.13.
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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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