Acadian Asset Management LLC Takes Position in TCG BDC Inc (NASDAQ:CGBD)

Acadian Asset Management LLC bought 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 (SEC). The firm bought 72,302 shares of the company’s stock, valued at approximately $1,048,000. Acadian Asset Management LLC owned about 0.12% of TCG BDC as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CGBD. Suntrust Banks Inc. raised its stake in TCG BDC by 35.1% during the fourth quarter. Suntrust Banks Inc. now owns 1,177,335 shares of the company’s stock worth $14,599,000 after purchasing an additional 305,623 shares during the period. Sageworth Trust Co raised its stake in TCG BDC by 0.6% during the first quarter. Sageworth Trust Co now owns 1,118,323 shares of the company’s stock worth $16,194,000 after purchasing an additional 6,950 shares during the period. PagnatoKarp Partners LLC raised its stake in TCG BDC by 10.7% during the first quarter. PagnatoKarp Partners LLC now owns 1,086,201 shares of the company’s stock worth $16,130,000 after purchasing an additional 104,679 shares during the period. Newport Trust Co raised its stake in TCG BDC by 35.4% during the fourth quarter. Newport Trust Co now owns 1,056,977 shares of the company’s stock worth $13,107,000 after purchasing an additional 276,271 shares during the period. Finally, Legal & General Group Plc raised its stake in TCG BDC by 18.3% during the fourth quarter. Legal & General Group Plc now owns 284,570 shares of the company’s stock worth $3,533,000 after purchasing an additional 43,988 shares during the period. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Shares of CGBD stock traded up $0.26 during mid-day trading on Friday, reaching $15.24. The company’s stock had a trading volume of 396,571 shares, compared to its average volume of 394,943. The firm’s 50 day moving average is $15.00. TCG BDC Inc has a 12-month low of $12.19 and a 12-month high of $18.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $923.74 million, a price-to-earnings ratio of 8.81, a PEG ratio of 4.30 and a beta of 0.89.

TCG BDC (NASDAQ:CGBD) last issued its earnings results on Tuesday, May 7th. The company reported $0.45 EPS for the quarter, beating 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 business had revenue of $55.19 million for the quarter, compared to the consensus estimate of $56.70 million. During the same quarter last year, the firm posted ($0.02) EPS. On average, equities research analysts predict that TCG BDC Inc will post 1.77 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.71%. The ex-dividend date of this dividend is Thursday, June 27th. TCG BDC’s dividend payout ratio is presently 85.55%.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of TCG BDC from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. ValuEngine raised 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 stock. The company presently has an average rating of “Hold” and an average price target of $16.13.

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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Institutional Ownership by Quarter for TCG BDC (NASDAQ:CGBD)

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