Wells Fargo & Company Cuts Golub Capital BDC (NASDAQ:GBDC) Price Target to $15.00

Golub Capital BDC (NASDAQ:GBDC) had its price target reduced by stock analysts at Wells Fargo & Company from $15.50 to $15.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the investment management company’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 1.45% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. StockNews.com upgraded Golub Capital BDC from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lowered their price objective on shares of Golub Capital BDC from $17.50 to $16.50 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Oppenheimer restated an “outperform” rating and set a $17.00 price objective on shares of Golub Capital BDC in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.40.

Golub Capital BDC Stock Performance

Shares of Golub Capital BDC stock opened at $15.22 on Thursday. Golub Capital BDC has a 12 month low of $14.05 and a 12 month 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 company has a market capitalization of $2.61 billion, a PE ratio of 10.79 and a beta of 0.54. The stock’s fifty day simple moving average is $15.19 and its 200 day simple moving average is $15.44.

Insider Buying and Selling

In other news, CEO David Golub bought 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $14.91 per share, with a total value of $298,200.00. Following the acquisition, the chief executive officer now owns 1,958,880 shares in the company, valued at $29,206,900.80. This trade represents a 1.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders acquired 80,000 shares of company stock worth $1,197,400. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hexagon Capital Partners LLC grew its stake in Golub Capital BDC by 171.5% during the third quarter. Hexagon Capital Partners LLC now owns 2,145 shares of the investment management company’s stock worth $32,000 after buying an additional 1,355 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Golub Capital BDC by 135.6% during the 3rd quarter. Allworth Financial LP now owns 2,340 shares of the investment management company’s stock worth $35,000 after acquiring an additional 1,347 shares during the period. Cove Street Capital LLC acquired a new stake in shares of Golub Capital BDC during the 2nd quarter worth approximately $39,000. Quarry LP bought a new position in Golub Capital BDC in the second quarter valued at approximately $61,000. Finally, Brown Brothers Harriman & Co. acquired a new position in Golub Capital BDC during the second quarter valued at approximately $71,000. 42.38% of the stock is 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.