Border to Coast Pensions Partnership Ltd Sells 175,000 Shares of Golub Capital BDC, Inc. $GBDC

Key Points

• Border to Coast Pensions Partnership reduced its Golub Capital BDC position by 21.9% in the first quarter, selling 175,000 shares and leaving it with 625,000 shares worth about $7.94 million.
• Golub Capital BDC reported fiscal Q1 earnings of $0.34 per share, missing analyst expectations of $0.36 per share, while revenue also came in below forecasts.
• The company declared a quarterly dividend of $0.33 per share, implying a 10.5% annualized yield, but its payout ratio remains elevated at 171.43%.

Border to Coast Pensions Partnership Ltd cut its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 21.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 625,000 shares of the investment management company's stock after selling 175,000 shares during the quarter. Border to Coast Pensions Partnership Ltd owned approximately 0.24% of Golub Capital BDC worth $7,937,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GBDC. JPMorgan Chase & Co. grew its holdings in shares of Golub Capital BDC by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,548,553 shares of the investment management company's stock valued at $34,890,000 after purchasing an additional 125,881 shares during the last quarter. Van ECK Associates Corp lifted its stake in Golub Capital BDC by 9.0% in the 3rd quarter. Van ECK Associates Corp now owns 4,843,816 shares of the investment management company's stock valued at $66,312,000 after purchasing an additional 401,723 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Golub Capital BDC by 6.6% in the 4th quarter. Sound Income Strategies LLC now owns 3,602,799 shares of the investment management company's stock valued at $49,791,000 after purchasing an additional 224,142 shares during the last quarter. Muzinich & Co. Inc. boosted its position in Golub Capital BDC by 20.5% in the fourth quarter. Muzinich & Co. Inc. now owns 1,959,272 shares of the investment management company's stock valued at $26,587,000 after buying an additional 333,636 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC boosted its position in Golub Capital BDC by 177.1% in the third quarter. Focus Partners Advisor Solutions LLC now owns 97,989 shares of the investment management company's stock valued at $1,364,000 after buying an additional 62,633 shares in the last quarter. Institutional investors own 42.38% of the company's stock.

Golub Capital BDC Trading Up 1.5%

Shares of NASDAQ GBDC opened at $12.59 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.20 and a current ratio of 2.20. Golub Capital BDC, Inc. has a 52-week low of $11.77 and a 52-week high of $15.63. The firm has a 50 day moving average price of $13.04 and a two-hundred day moving average price of $13.02. The stock has a market cap of $3.28 billion, a P/E ratio of 16.35 and a beta of 0.39.

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

Golub Capital BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date is Monday, June 15th. Golub Capital BDC's payout ratio is 171.43%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada lowered their price target on shares of Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. Oppenheimer reissued an "outperform" rating and set a $14.00 price objective on shares of Golub Capital BDC in a report on Wednesday, May 6th. Zacks Research lowered Golub Capital BDC from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 7th. Wall Street Zen cut Golub Capital BDC from a "hold" rating to a "sell" rating in a report on Sunday, April 19th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Golub Capital BDC in a report on Wednesday. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Golub Capital BDC has an average rating of "Moderate Buy" and a consensus target price 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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