417,665 Shares in Golub Capital BDC, Inc. $GBDC Purchased by Closed End Fund Advisors Inc.

Key Points

• Closed End Fund Advisors Inc. bought 417,665 shares of Golub Capital BDC in the fourth quarter, a position valued at about $5.67 million and equal to 3.3% of its portfolio.
• Golub Capital BDC reported Q1 earnings of $0.34 per share, missing Wall Street’s $0.36 estimate, while revenue also came in well below expectations.
• The company declared a quarterly dividend of $0.33 per share, implying an annualized yield of about 10.1%, even as its payout ratio stands at 171.43%.

Closed End Fund Advisors Inc. purchased a new position in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 417,665 shares of the investment management company's stock, valued at approximately $5,668,000. Golub Capital BDC makes up 3.3% of Closed End Fund Advisors Inc.'s portfolio, making the stock its 3rd largest position. Closed End Fund Advisors Inc. owned approximately 0.16% of Golub Capital BDC as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strs Ohio grew its position in Golub Capital BDC by 2.9% in the fourth quarter. Strs Ohio now owns 16,704,760 shares of the investment management company's stock worth $226,684,000 after acquiring an additional 466,978 shares in the last quarter. Van ECK Associates Corp grew its position in Golub Capital BDC by 9.0% in the third quarter. Van ECK Associates Corp now owns 4,843,816 shares of the investment management company's stock worth $66,312,000 after acquiring an additional 401,723 shares in the last quarter. Bank of America Corp DE grew its position in Golub Capital BDC by 5.7% in the third quarter. Bank of America Corp DE now owns 3,829,788 shares of the investment management company's stock worth $52,430,000 after acquiring an additional 207,998 shares in the last quarter. Sound Income Strategies LLC grew its position in Golub Capital BDC by 6.6% in the fourth quarter. Sound Income Strategies LLC now owns 3,602,799 shares of the investment management company's stock worth $49,791,000 after acquiring an additional 224,142 shares in the last quarter. Finally, Sage Mountain Advisors LLC grew its position in Golub Capital BDC by 11.0% in the fourth quarter. Sage Mountain Advisors LLC now owns 3,360,932 shares of the investment management company's stock worth $45,608,000 after acquiring an additional 332,443 shares in the last quarter. Hedge funds and other institutional investors own 42.38% of the company's stock.

Golub Capital BDC Stock Down 1.1%

Shares of NASDAQ:GBDC opened at $13.04 on Friday. Golub Capital BDC, Inc. has a 1 year low of $11.77 and a 1 year high of $15.63. The business has a 50 day simple moving average of $13.05 and a two-hundred day simple moving average of $13.14. The firm has a market capitalization of $3.40 billion, a PE ratio of 16.94 and a beta of 0.39. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.20 and a quick ratio of 2.20.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The firm had revenue of ($5.28) million during the quarter, compared to analysts' expectations of $201.71 million. Golub Capital BDC had a net margin of 24.64% and a return on equity of 10.20%. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, equities analysts predict that Golub Capital BDC, Inc. will post 1.36 EPS for the current year.

Golub Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a $0.33 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.1%. Golub Capital BDC's payout ratio is presently 171.43%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GBDC shares. Royal Bank Of Canada dropped their target price on Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Thursday, May 7th. Wall Street Zen lowered Golub Capital BDC from a "hold" rating to a "sell" rating in a research report on Sunday, April 19th. Keefe, Bruyette & Woods dropped their target price on Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, February 6th. Oppenheimer restated an "outperform" rating and set a $14.00 target price on shares of Golub Capital BDC in a research report on Wednesday, May 6th. Finally, Zacks Research lowered Golub Capital BDC from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Golub Capital BDC presently has an average rating of "Moderate Buy" and an average price target of $14.00.

Golub Capital BDC Company Profile

Golub Capital BDC NASDAQ: GBDC is a publicly traded business development company specializing in providing debt and equity financing solutions to middle-market companies in the United States. Externally managed by Golub Capital LLC, the firm focuses on building a diversified portfolio of senior secured loans, unitranche facilities and second-lien debt instruments designed to support growth, acquisitions and recapitalizations. As a closed-end investment vehicle, GBDC offers investors direct exposure to private credit strategies within a regulated structure.

The company's core business activities center on originating and managing bespoke financing arrangements for U.S.

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