Advisors Capital Management LLC acquired a new stake in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 435,853 shares of the investment management company's stock, valued at approximately $5,614,000. Advisors Capital Management LLC owned 0.17% of Golub Capital BDC at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Keel Point LLC grew its holdings in Golub Capital BDC by 2.7% in the second quarter. Keel Point LLC now owns 39,845 shares of the investment management company's stock worth $584,000 after purchasing an additional 1,039 shares during the period. Ironsides Asset Advisors LLC lifted its holdings in shares of Golub Capital BDC by 7.6% during the fourth quarter. Ironsides Asset Advisors LLC now owns 15,755 shares of the investment management company's stock valued at $214,000 after purchasing an additional 1,113 shares during the last quarter. Levin Capital Strategies L.P. boosted its position in shares of Golub Capital BDC by 12.9% in the 1st quarter. Levin Capital Strategies L.P. now owns 11,628 shares of the investment management company's stock worth $147,000 after purchasing an additional 1,328 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Golub Capital BDC by 1.3% in the 4th quarter. Cetera Investment Advisers now owns 106,374 shares of the investment management company's stock worth $1,443,000 after buying an additional 1,361 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Golub Capital BDC by 3.8% in the 3rd quarter. Mackenzie Financial Corp now owns 42,767 shares of the investment management company's stock worth $585,000 after buying an additional 1,557 shares during the last quarter. 42.38% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Lawrence E. Golub sold 1,676,387 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several brokerages have recently weighed in on GBDC. Zacks Research upgraded Golub Capital BDC from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Keefe, Bruyette & Woods cut their price objective on shares of Golub Capital BDC from $14.00 to $13.50 and set an "outperform" rating on the stock in a research report on Wednesday, August 5th. Oppenheimer restated an "outperform" rating and set a $14.00 price objective on shares of Golub Capital BDC in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Golub Capital BDC in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Golub Capital BDC from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. One 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 company. Based on data from MarketBeat, Golub Capital BDC presently has an average rating of "Moderate Buy" and a consensus price target of $13.90.
Read Our Latest Research Report on Golub Capital BDC
Golub Capital BDC Stock Up 0.3%
Shares of GBDC stock opened at $13.21 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.22. Golub Capital BDC, Inc. has a 12 month low of $11.77 and a 12 month high of $14.93. The stock has a market cap of $3.43 billion, a P/E ratio of 20.32 and a beta of 0.39. The company has a 50 day simple moving average of $12.89 and a two-hundred day simple moving average of $12.82.
Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The investment management company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $98.53 million for the quarter, compared to analysts' expectations of $189.91 million. Golub Capital BDC had a net margin of 21.45% and a return on equity of 9.91%. During the same quarter last year, the company posted $0.39 EPS. On average, research analysts expect that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current year.
Golub Capital BDC Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date is Monday, September 14th. Golub Capital BDC's dividend payout ratio is presently 203.08%.
About Golub Capital BDC
(
Free Report)
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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