Mckinley Capital Management LLC Delaware Boosts Stake in TCG BDC Inc (CGBD)

Mckinley Capital Management LLC Delaware raised its position in shares of TCG BDC Inc (NASDAQ:CGBD) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,231 shares of the company’s stock after purchasing an additional 1,704 shares during the period. Mckinley Capital Management LLC Delaware owned 0.24% of TCG BDC worth $2,132,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CGBD. Synovus Financial Corp acquired a new position in TCG BDC during the 4th quarter valued at about $54,000. Quantamental Technologies LLC raised its holdings 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 worth $60,000 after purchasing an additional 2,770 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of TCG BDC in the 4th quarter worth approximately $73,000. Advisor Group Inc. raised its holdings in shares of TCG BDC by 1,413.2% in the 4th quarter. Advisor Group Inc. now owns 6,658 shares of the company’s stock worth $83,000 after purchasing an additional 6,218 shares in the last quarter. Finally, Lindbrook Capital LLC bought a new stake in shares of TCG BDC in the 4th quarter worth approximately $104,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

In other TCG BDC news, Director John G. Nestor bought 6,800 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was bought at an average cost of $14.63 per share, with a total value of $99,484.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.12% of the company’s stock.

Several research firms have recently weighed in on CGBD. Zacks Investment Research raised shares of TCG BDC from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. ValuEngine raised shares of TCG BDC from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. TCG BDC has a consensus rating of “Hold” and a consensus target price of $16.13.

CGBD traded up $0.23 on Wednesday, reaching $15.00. 732,680 shares of the company traded hands, compared to its average volume of 332,399. TCG BDC Inc has a 52-week low of $12.19 and a 52-week high of $18.41. The company has a market capitalization of $909.20 million, a PE ratio of 8.67, a PEG ratio of 4.19 and a beta of 0.99. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 0.85.

TCG BDC (NASDAQ:CGBD) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $55.19 million for the quarter, compared to the consensus estimate of $56.70 million. TCG BDC had a net margin of 24.05% and a return on equity of 10.19%. During the same period in the previous year, the firm posted ($0.02) earnings per share. On average, equities analysts forecast that TCG BDC Inc will post 1.76 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 9.87%. The ex-dividend date of this dividend is Thursday, June 27th. TCG BDC’s dividend payout ratio is 85.55%.

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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.

Further Reading: What is the return on assets (ROA) ratio?

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

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