Golub Capital BDC Inc. (GBDC) Upgraded to Hold at Zacks Investment Research
Golub Capital BDC Inc. (NASDAQ:GBDC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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 research firms have also recently weighed in on GBDC. Janney Montgomery Scott initiated coverage on shares of Golub Capital BDC in a research note on Tuesday, September 20th. They issued a “neutral” rating and a $18.00 target price for the company. TheStreet raised shares of Golub Capital BDC from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Golub Capital BDC presently has an average rating of “Hold” and a consensus price target of $17.83.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/golub-capital-bdc-inc-gbdc-upgraded-to-hold-at-zacks-investment-research.html
Shares of Golub Capital BDC (NASDAQ:GBDC) traded up 0.60% during trading on Wednesday, hitting $18.56. 88,669 shares of the stock were exchanged. The firm’s 50-day moving average is $18.76 and its 200 day moving average is $18.00. Golub Capital BDC has a 1-year low of $14.80 and a 1-year high of $19.76.
Golub Capital BDC (NASDAQ:GBDC) last posted its quarterly earnings data on Wednesday, August 3rd. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $32.10 million for the quarter, compared to the consensus estimate of $33.01 million. During the same period last year, the company earned $0.36 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. Analysts expect that Golub Capital BDC will post $1.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Monday, September 5th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.28 dividend on an annualized basis and a yield of 6.90%. Golub Capital BDC’s dividend payout ratio (DPR) is 90.78%.
In related news, Director John Thomas Baily acquired 8,250 shares of Golub Capital BDC stock in a transaction on Monday, August 15th. The stock was purchased at an average cost of $18.35 per share, with a total value of $151,387.50. Following the completion of the transaction, the director now directly owns 23,179 shares in the company, valued at approximately $425,334.65. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in GBDC. Emerald Acquisition Ltd. bought a new position in Golub Capital BDC during the second quarter worth approximately $574,000. Front Barnett Associates LLC boosted its position in Golub Capital BDC by 1.8% in the second quarter. Front Barnett Associates LLC now owns 17,155 shares of the investment management company’s stock worth $310,000 after buying an additional 300 shares during the period. Pekin Singer Strauss Asset Management IL boosted its position in Golub Capital BDC by 15.4% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 20,595 shares of the investment management company’s stock worth $372,000 after buying an additional 2,751 shares during the period. State of New Jersey Common Pension Fund D boosted its position in Golub Capital BDC by 8.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 496,310 shares of the investment management company’s stock worth $8,968,000 after buying an additional 40,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Golub Capital BDC by 15,497.6% in the second quarter. Bank of New York Mellon Corp now owns 3,320,109 shares of the investment management company’s stock worth $59,994,000 after buying an additional 3,298,823 shares during the period. 42.47% of the stock is owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Golub Capital BDC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golub Capital BDC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.