Wells Fargo & Co Downgrades TCG BDC (NASDAQ:CGBD) to Underweight

Wells Fargo & Co downgraded shares of TCG BDC (NASDAQ:CGBD) from an equal weight rating to an underweight rating in a research note published on Tuesday morning, BenzingaRatingsTable reports. They currently have $14.00 price objective on the stock, down from their prior price objective of $14.75.

Separately, Zacks Investment Research raised TCG BDC from a sell rating to a hold rating in a research note on Wednesday, February 5th.

TCG BDC stock opened at $13.74 on Tuesday. The stock has a market capitalization of $809.07 million, a PE ratio of 25.44, a price-to-earnings-growth ratio of 4.05 and a beta of 0.87. TCG BDC has a 12 month low of $13.14 and a 12 month high of $15.56. The business has a 50 day simple moving average of $13.85 and a 200-day simple moving average of $14.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57.

Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of TCG BDC by 183.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,156 shares of the company’s stock worth $42,000 after acquiring an additional 2,042 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of TCG BDC by 190.1% in the fourth quarter. Quantbot Technologies LP now owns 7,163 shares of the company’s stock worth $95,000 after acquiring an additional 4,694 shares during the last quarter. Homrich & Berg acquired a new stake in shares of TCG BDC in the third quarter worth approximately $146,000. Envestnet Asset Management Inc. acquired a new stake in shares of TCG BDC in the third quarter worth approximately $164,000. Finally, Barnett & Company Inc. boosted its stake in shares of TCG BDC by 8.8% in the fourth quarter. Barnett & Company Inc. now owns 12,424 shares of the company’s stock worth $166,000 after acquiring an additional 1,000 shares during the last quarter. 29.00% of the stock is currently owned by hedge funds and other institutional investors.

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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