Zacks Investment Research cut shares of Golub Capital BDC, Inc. (NASDAQ:GBDC) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
According to Zacks, “Golub Capital BDC Inc. is a business development company that principally invests in senior secured, unitranche, mezzanine and second lien loans of middle-market companies that are, in most cases, sponsored by private equity investors. The Company’s investment activities are managed by its investment adviser, GC Advisors LLC, an affiliate of Golub Capital. “
Several other research analysts have also commented on GBDC. National Securities restated a neutral rating and issued a $19.00 price objective on shares of Golub Capital BDC in a report on Monday, June 12th. BidaskClub upgraded shares of Golub Capital BDC from a sell rating to a hold rating in a report on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $19.50 price objective on shares of Golub Capital BDC in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Golub Capital BDC currently has an average rating of Hold and an average target price of $19.88.
Golub Capital BDC (NASDAQ:GBDC) last issued its quarterly earnings data on Monday, August 7th. The investment management company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. Golub Capital BDC had a net margin of 53.62% and a return on equity of 7.86%. The business had revenue of $35.40 million during the quarter, compared to analyst estimates of $35.11 million. During the same period in the prior year, the business earned $0.35 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Wednesday, September 6th were issued a $0.32 dividend. The ex-dividend date was Friday, September 1st. This represents a $1.28 annualized dividend and a yield of 6.77%. Golub Capital BDC’s dividend payout ratio (DPR) is presently 96.24%.
In related news, Director William M. Iv Webster acquired 5,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was acquired at an average cost of $18.46 per share, for a total transaction of $92,300.00. Following the acquisition, the director now owns 136,514 shares of the company’s stock, valued at $2,520,048.44. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. bought a new position in shares of Golub Capital BDC in the 1st quarter worth about $442,000. Parametric Portfolio Associates LLC increased its stake in shares of Golub Capital BDC by 1.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 47,960 shares of the investment management company’s stock worth $953,000 after acquiring an additional 553 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Golub Capital BDC by 12.2% in the 1st quarter. Legal & General Group Plc now owns 132,213 shares of the investment management company’s stock worth $2,627,000 after acquiring an additional 14,348 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Golub Capital BDC by 50.4% in the 1st quarter. Global X Management Co. LLC now owns 6,728 shares of the investment management company’s stock worth $134,000 after acquiring an additional 2,254 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Golub Capital BDC by 104.4% in the 1st quarter. Mackenzie Financial Corp now owns 68,707 shares of the investment management company’s stock worth $1,366,000 after acquiring an additional 35,099 shares in the last quarter. Institutional investors and hedge funds own 41.58% of the company’s stock.
About Golub Capital BDC
Golub Capital BDC, Inc is an externally managed, non-diversified, closed-end, management investment company. The Company’s investment objective is to generate current income and capital appreciation by investing primarily in senior secured and one stop loans of the United States middle-market companies.
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