Barings Bdc (NYSE:BBDC) Shares Break Above Two Hundred Day Moving Average – Here’s Why

Barings Bdc, Inc. (NYSE:BBDC)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $8.68 and traded as high as $8.74. Barings Bdc shares last traded at $8.7350, with a volume of 387,252 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Raymond James Financial set a $9.00 target price on shares of Barings Bdc in a research note on Thursday, October 22nd. Wells Fargo & Company raised their price target on Barings Bdc from $9.50 to $10.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Weiss Ratings downgraded Barings Bdc from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. Finally, Zacks Research cut Barings Bdc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.50.

Barings Bdc Price Performance

The company has a market capitalization of $914.64 million, a PE ratio of 10.52 and a beta of 0.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.09 and a quick ratio of 0.09. The company’s 50 day simple moving average is $8.76 and its 200 day simple moving average is $8.68.

Barings Bdc (NYSE:BBDC) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $54.58 million for the quarter, compared to analysts’ expectations of $60.10 million. Barings Bdc had a net margin of 32.73% and a return on equity of 10.07%. During the same quarter last year, the company earned $0.28 earnings per share. As a group, sell-side analysts predict that Barings Bdc, Inc. will post 1.04 earnings per share for the current year.

Barings Bdc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, September 2nd were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 11.9%. The ex-dividend date was Wednesday, September 2nd. Barings Bdc’s dividend payout ratio (DPR) is currently 125.30%.

Institutional Investors Weigh In On Barings Bdc

A number of institutional investors and hedge funds have recently bought and sold shares of BBDC. Private Management Group Inc. boosted its stake in Barings Bdc by 11.2% in the second quarter. Private Management Group Inc. now owns 4,779,724 shares of the company’s stock valued at $40,723,000 after acquiring an additional 479,536 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Barings Bdc by 26.6% during the second quarter. Van ECK Associates Corp now owns 2,309,564 shares of the company’s stock worth $19,677,000 after purchasing an additional 484,649 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Barings Bdc during the second quarter worth about $7,483,000. Bank of America Corp DE acquired a new stake in shares of Barings Bdc during the second quarter worth about $5,885,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Barings Bdc by 2.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 589,412 shares of the company’s stock worth $5,081,000 after purchasing an additional 12,000 shares in the last quarter. 44.09% of the stock is owned by hedge funds and other institutional investors.

About Barings Bdc

Barings BDC, Inc (NYSE:BBDC) is a business development company that provides financing to privately owned, middle-market businesses. The company seeks to support companies across a range of industries by investing in their debt and equity securities.

Barings BDC primarily invests in senior secured loans, including first-lien and second-lien debt, as well as subordinated debt and selected equity investments. Its portfolio companies are generally based in the United States and may use the financing for acquisitions, recapitalizations, refinancing, growth initiatives, and other corporate purposes.

The company was formerly known as Triangle Capital Corporation and adopted the Barings BDC name following a change in its investment management arrangements.