Golub Capital BDC (NASDAQ:GBDC) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Golub Capital BDC (NASDAQ:GBDC) from a hold rating to a sell rating in a research report released on Saturday morning.

GBDC has been the subject of a number of other research reports. Wells Fargo & Company cut their target price on shares of Golub Capital BDC from $15.50 to $15.00 and set an equal weight rating for the company in a research report on Wednesday, August 7th. Oppenheimer reissued an outperform rating and set a $17.00 target price on shares of Golub Capital BDC in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods cut their price objective on Golub Capital BDC from $17.50 to $16.50 and set an outperform rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Golub Capital BDC currently has a consensus rating of Hold and a consensus price target of $16.40.

Golub Capital BDC Trading Down 1.5 %

Shares of NASDAQ GBDC opened at $14.89 on Friday. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $2.55 billion, a P/E ratio of 7.33 and a beta of 0.53. Golub Capital BDC has a 52-week low of $13.95 and a 52-week high of $17.72. The stock’s 50 day moving average price is $14.90 and its two-hundred day moving average price is $15.78.

Golub Capital BDC (NASDAQ:GBDC) last posted 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). Golub Capital BDC had a net margin of 42.14% and a return on equity of 11.99%. The company had revenue of $171.27 million during the quarter, compared to the consensus estimate of $205.24 million. During the same period in the prior year, the company posted $0.44 EPS. On average, analysts anticipate that Golub Capital BDC will post 1.92 earnings per share for the current fiscal year.

Golub Capital BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 10.48%. The ex-dividend date of this dividend was Friday, August 30th. Golub Capital BDC’s payout ratio is presently 76.85%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Golub Capital BDC

Several hedge funds and other institutional investors have recently made changes to their positions in GBDC. Waterloo Capital L.P. bought a new position in shares of Golub Capital BDC during the fourth quarter valued at $1,304,000. SG Americas Securities LLC bought a new position in Golub Capital BDC during the first quarter worth $878,000. Baillie Gifford & Co. increased its stake in Golub Capital BDC by 37.5% in the first quarter. Baillie Gifford & Co. now owns 307,486 shares of the investment management company’s stock valued at $5,113,000 after purchasing an additional 83,787 shares in the last quarter. Abundance Wealth Counselors grew its stake in shares of Golub Capital BDC by 289.2% in the 2nd quarter. Abundance Wealth Counselors now owns 187,345 shares of the investment management company’s stock valued at $2,943,000 after buying an additional 139,212 shares during the period. Finally, TCW Group Inc. increased its position in Golub Capital BDC by 63.0% in the 2nd quarter. TCW Group Inc. now owns 430,702 shares of the investment management company’s stock valued at $6,766,000 after buying an additional 166,480 shares in the last quarter. 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.