214,709 Shares of Golub Capital BDC, Inc. $GBDC Purchased by Eagle Bay Advisors LLC

Key Points

• Eagle Bay Advisors LLC purchased 214,709 shares of Golub Capital BDC worth approximately $2.7 million, making up 2.0% of its portfolio; institutional investors collectively own 42.38% of the stock.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $13.90, while director Lawrence Golub sold 1.68 million shares for approximately $21.9 million.
• GBDC shares recently traded at $12.12, and the company reported quarterly EPS of $0.34, slightly above estimates. Its quarterly dividend of $0.33 implies a 10.9% annualized yield, though the payout ratio is high at 203.08%.

Eagle Bay Advisors LLC bought a new stake in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 214,709 shares of the investment management company's stock, valued at approximately $2,712,000. Golub Capital BDC comprises about 2.0% of Eagle Bay Advisors LLC's investment portfolio, making the stock its 12th largest holding. Eagle Bay Advisors LLC owned 0.08% of Golub Capital BDC as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. TT Capital Management LLC acquired a new position in Golub Capital BDC during the 3rd quarter valued at about $159,000. Krilogy Financial LLC acquired a new stake in Golub Capital BDC in the third quarter worth about $958,000. Farther Finance Advisors LLC grew its stake in shares of Golub Capital BDC by 468.7% during the third quarter. Farther Finance Advisors LLC now owns 19,177 shares of the investment management company's stock worth $242,000 after acquiring an additional 15,805 shares during the last quarter. Adams Asset Advisors LLC grew its stake in shares of Golub Capital BDC by 1.6% during the third quarter. Adams Asset Advisors LLC now owns 180,151 shares of the investment management company's stock worth $2,275,000 after acquiring an additional 2,852 shares during the last quarter. Finally, Confluence Investment Management LLC grew its stake in shares of Golub Capital BDC by 2.4% during the third quarter. Confluence Investment Management LLC now owns 335,237 shares of the investment management company's stock worth $4,234,000 after acquiring an additional 7,714 shares during the last quarter. 42.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GBDC has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Golub Capital BDC from $14.00 to $13.50 and set an "outperform" rating for the company in a research report on Wednesday, August 5th. Weiss Ratings cut shares of Golub Capital BDC from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, October 9th. Zacks Research raised shares of Golub Capital BDC from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Wall Street Zen raised shares of Golub Capital BDC from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Golub Capital BDC currently has a consensus rating of "Moderate Buy" and an average price target of $13.90.

Insider Buying and Selling

In other news, Director Lawrence Golub sold 1,676,387 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $13.06, for a total value of $21,893,614.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company's stock.

Golub Capital BDC Stock Performance

GBDC traded down $0.15 on Friday, reaching $12.12. 885,736 shares of the stock were exchanged, compared to its average volume of 1,567,430. The company's 50-day moving average price is $12.72 and its 200 day moving average price is $12.88. Golub Capital BDC, Inc. has a fifty-two week low of $11.77 and a fifty-two week high of $14.40. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $3.15 billion, a PE ratio of 18.65 and a beta of 0.41.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The investment management company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Golub Capital BDC had a return on equity of 9.91% and a net margin of 21.45%. The business had revenue of $98.53 million for the quarter, compared to analyst estimates of $189.91 million. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, sell-side analysts forecast that Golub Capital BDC, Inc. will post 1.36 EPS for the current fiscal year.

Golub Capital BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 10.9%. The ex-dividend date was Monday, September 14th. Golub Capital BDC's payout ratio is presently 203.08%.

About Golub Capital BDC

Golub Capital BDC, Inc is a business development company that provides financing to middle-market companies. The company primarily invests in privately owned businesses through senior secured loans, unitranche loans, second-lien loans, subordinated debt and, to a lesser extent, equity investments. Its objective is to generate current income and long-term capital appreciation by supporting companies across a range of industries.

Golub Capital BDC generally works with companies that are backed by private equity firms and provides customized financing for acquisitions, recapitalizations, refinancings, growth initiatives and other corporate purposes.

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