Golub Capital BDC (NASDAQ:GBDC) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Golub Capital BDC (NASDAQ:GBDC) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

GBDC has been the topic of several other reports. Wells Fargo & Company cut their target price on Golub Capital BDC from $15.50 to $15.00 and set an equal weight rating on the stock in a report on Wednesday, August 7th. Keefe, Bruyette & Woods reduced their target price on Golub Capital BDC from $17.50 to $16.50 and set an outperform rating on the stock in a report on Wednesday, August 7th. Finally, Oppenheimer restated an outperform rating and set a $17.00 price target on shares of Golub Capital BDC in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $16.40.

Golub Capital BDC Stock Performance

NASDAQ:GBDC opened at $14.89 on Friday. The stock’s 50-day moving average is $14.98 and its 200-day moving average is $15.81. Golub Capital BDC has a 1-year low of $13.95 and a 1-year high of $17.72. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 1.06. The stock has a market cap of $2.55 billion, a P/E ratio of 7.33 and a beta of 0.53.

Golub Capital BDC (NASDAQ:GBDC) last announced its quarterly earnings results on Monday, August 5th. The investment management company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $171.27 million during the quarter, compared to analyst estimates of $205.24 million. Golub Capital BDC had a net margin of 42.14% and a return on equity of 11.99%. During the same quarter last year, the company posted $0.44 earnings per share. Equities research analysts anticipate that Golub Capital BDC will post 1.92 earnings per share for the current year.

Golub Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.56 dividend on an annualized basis and a yield of 10.48%. Golub Capital BDC’s payout ratio is currently 76.85%.

Insider Buying and Selling at Golub Capital BDC

In related news, Director Anita J. Rival acquired 26,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $14.40 per share, for a total transaction of $374,400.00. Following the purchase, the director now directly owns 95,000 shares of the company’s stock, valued at approximately $1,368,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO David Golub purchased 20,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $14.68 per share, for a total transaction of $293,600.00. Following the completion of the acquisition, the chief executive officer now owns 1,738,880 shares in the company, valued at $25,526,758.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anita J. Rival acquired 26,000 shares of Golub Capital BDC stock in a transaction on Thursday, August 8th. The stock was purchased at an average cost of $14.40 per share, with a total value of $374,400.00. Following the purchase, the director now directly owns 95,000 shares of the company’s stock, valued at approximately $1,368,000. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 146,000 shares of company stock valued at $2,159,400. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Golub Capital BDC

A number of large investors have recently modified their holdings of GBDC. Northeast Financial Consultants Inc increased its stake in Golub Capital BDC by 151.8% during the 2nd quarter. Northeast Financial Consultants Inc now owns 2,104,195 shares of the investment management company’s stock valued at $33,057,000 after purchasing an additional 1,268,442 shares in the last quarter. Millennium Management LLC increased its position in shares of Golub Capital BDC by 1,170.6% during the second quarter. Millennium Management LLC now owns 786,569 shares of the investment management company’s stock worth $12,357,000 after acquiring an additional 724,662 shares in the last quarter. Boston Partners acquired a new stake in shares of Golub Capital BDC in the 1st quarter worth about $12,126,000. Van ECK Associates Corp lifted its position in Golub Capital BDC by 22.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,513,023 shares of the investment management company’s stock valued at $55,190,000 after acquiring an additional 640,866 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in Golub Capital BDC during the 2nd quarter valued at about $9,426,000. 42.38% of the stock is currently owned by institutional investors.

About Golub Capital BDC

Golub Capital BDC, Inc (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors.