Golub Capital BDC Inc. (GBDC) Upgraded to “Hold” at Zacks Investment Research
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 brokerages have also recently commented on GBDC. TheStreet upgraded shares of Golub Capital BDC from a hold rating to a buy rating in a research report on Wednesday, August 10th. Janney Montgomery Scott started coverage on shares of Golub Capital BDC in a research report on Tuesday, September 20th. They issued a neutral rating and a $18.00 target price for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $17.83.
Golub Capital BDC (NASDAQ:GBDC) opened at 18.70 on Wednesday. The firm has a 50-day moving average of $18.75 and a 200-day moving average of $18.02. Golub Capital BDC has a 52 week low of $14.80 and a 52 week high of $19.76.
Golub Capital BDC (NASDAQ:GBDC) last issued its quarterly earnings data on Wednesday, August 3rd. The investment management company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Golub Capital BDC had a net margin of 57.18% and a return on equity of 7.75%. The business earned $32.10 million during the quarter, compared to analysts’ expectations of $33.01 million. During the same quarter in the previous year, the company earned $0.36 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Analysts predict that Golub Capital BDC will post $1.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Monday, September 5th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend was Wednesday, August 31st. Golub Capital BDC’s dividend payout ratio is 90.78%.
In related news, Director John Thomas Baily acquired 8,250 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was acquired at an average cost of $18.35 per share, for a total transaction of $151,387.50. Following the transaction, the director now directly owns 23,179 shares in the company, valued at $425,334.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Lebenthal Asset Management LLC bought a new position in Golub Capital BDC during the second quarter worth about $181,000. Johnson Investment Counsel Inc. bought a new position in Golub Capital BDC during the second quarter worth about $210,000. California Public Employees Retirement System boosted its position in Golub Capital BDC by 15.3% in the second quarter. California Public Employees Retirement System now owns 12,800 shares of the investment management company’s stock worth $231,000 after buying an additional 1,700 shares in the last quarter. Sei Investments Co. bought a new position in Golub Capital BDC during the second quarter worth about $242,000. Finally, Eagle Global Advisors LLC bought a new position in Golub Capital BDC during the second quarter worth about $251,000. Institutional investors and hedge funds own 42.47% of the company’s stock.
Golub Capital BDC Company Profile
Golub Capital BDC Inc is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by investing primarily in senior secured, one stop, second lien and subordinated loans of, and warrants and minority equity securities in, United States middle market companies.
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