BlackRock Inc. Makes New Investment in Golub Capital BDC, Inc. $GBDC

Key Points

• BlackRock acquired 1.26 million shares of Golub Capital BDC during the second quarter, worth approximately $16.2 million and representing a 0.48% stake. Institutional investors collectively own 42.38% of the company.
• Golub Capital BDC reported quarterly EPS of $0.34, exceeding the $0.33 consensus estimate, while revenue reached $98.53 million. The company declared a quarterly dividend of $0.33, implying a 10.2% annualized yield.
• Analyst sentiment remains positive but measured, with a consensus rating of “Moderate Buy” and an average price target of $13.90. However, Director Lawrence Golub sold 1.68 million shares for approximately $21.9 million.

BlackRock Inc. acquired a new stake in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,258,215 shares of the investment management company's stock, valued at approximately $16,206,000. BlackRock Inc. owned 0.48% of Golub Capital BDC at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Main Street Group LTD purchased a new position in shares of Golub Capital BDC in the first quarter valued at $47,000. Fifth Third Bancorp acquired a new position in shares of Golub Capital BDC in the first quarter worth about $68,000. Trust Co. of Vermont acquired a new position in shares of Golub Capital BDC in the second quarter worth about $77,000. Advisory Services Network LLC purchased a new position in Golub Capital BDC in the third quarter valued at about $77,000. Finally, Clearstead Advisors LLC grew its stake in Golub Capital BDC by 48.6% during the 4th quarter. Clearstead Advisors LLC now owns 5,933 shares of the investment management company's stock valued at $81,000 after purchasing an additional 1,941 shares in the last quarter. Hedge funds and other institutional investors own 42.38% of the company's stock.

Insider Buying and Selling at Golub Capital BDC

In other news, Director Lawrence Golub sold 1,676,387 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $13.06, for a total transaction of $21,893,614.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.40% of the company's stock.

Golub Capital BDC Stock Performance

GBDC stock opened at $12.97 on Friday. Golub Capital BDC, Inc. has a 1 year low of $11.77 and a 1 year high of $14.85. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 19.95 and a beta of 0.39. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.33 and a current ratio of 1.33. The stock's fifty day moving average is $13.00 and its two-hundred day moving average is $12.85.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The investment management company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $98.53 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.39 earnings per share. On average, research 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 Tuesday, September 29th. Shareholders of record on Monday, September 14th will be paid a $0.33 dividend. The ex-dividend date is Monday, September 14th. This represents a $1.32 annualized dividend and a dividend yield of 10.2%. Golub Capital BDC's dividend payout ratio (DPR) is presently 203.08%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank Of Canada cut their target price on Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Golub Capital BDC in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Golub Capital BDC from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Zacks Research raised shares of Golub Capital BDC from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods dropped their target price 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. 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $13.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source