Golub Capital BDC (NASDAQ:GBDC) Raised 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 report sent to investors on Friday.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods cut their target price 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. Oppenheimer reiterated an outperform rating and issued a $17.00 price target on shares of Golub Capital BDC in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their target price on Golub Capital BDC from $15.50 to $15.00 and set an equal weight rating on the stock in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $16.40.

Golub Capital BDC Price Performance

Shares of Golub Capital BDC stock opened at $14.98 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 5.01 and a quick ratio of 5.01. The business’s 50 day simple moving average is $14.96 and its two-hundred day simple moving average is $15.81. The stock has a market capitalization of $2.57 billion, a P/E ratio of 7.38 and a beta of 0.53. Golub Capital BDC has a one year low of $13.95 and a one year high of $17.72.

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 company had revenue of $171.27 million for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $0.44 EPS. Analysts forecast that Golub Capital BDC will post 1.92 EPS for the current year.

Golub Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 10.41%. The ex-dividend date is Friday, August 30th. Golub Capital BDC’s dividend payout ratio is presently 76.85%.

Insider Activity at Golub Capital BDC

In related news, Director Anita J. Rival purchased 26,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $14.40 per share, for a total transaction of $374,400.00. Following the acquisition, the director now owns 95,000 shares of the company’s stock, valued at approximately $1,368,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Anita J. Rival acquired 26,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $14.40 per share, with a total value of $374,400.00. Following the completion of the purchase, the director now directly owns 95,000 shares in the company, valued at $1,368,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Lawrence E. Golub bought 20,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of $14.91 per share, for a total transaction of $298,200.00. Following the purchase, the chairman now owns 1,998,880 shares of the company’s stock, valued at approximately $29,803,300.80. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 146,000 shares of company stock valued at $2,159,400. Insiders own 2.70% of the company’s stock.

Institutional Trading of Golub Capital BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new stake in shares of Golub Capital BDC during the first quarter valued at approximately $38,000. Cove Street Capital LLC bought a new position in shares of Golub Capital BDC during the 2nd quarter worth $39,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Golub Capital BDC by 77.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,463 shares of the investment management company’s stock valued at $52,000 after buying an additional 1,508 shares during the period. Quarry LP bought a new stake in shares of Golub Capital BDC in the second quarter valued at about $61,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Golub Capital BDC in the second quarter worth about $71,000. Hedge funds and other institutional investors own 42.38% of the company’s stock.

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.