Coastal Bridge Advisors LLC Makes New Investment in Golub Capital BDC, Inc. $GBDC

Key Points

• Coastal Bridge Advisors acquired 1.19 million Golub Capital BDC shares worth about $15.4 million in the second quarter, making GBDC 1% of its portfolio; institutional investors collectively own 42.38% of the company.
• Golub Capital BDC reported quarterly EPS of $0.34, slightly above estimates, while its shares traded near $13.07. Analysts maintain a “Moderate Buy” consensus with an average price target of $13.90.
• The company declared a quarterly dividend of $0.33 per share, equivalent to $1.32 annually and a 10.1% yield, although its payout ratio is elevated at 203.08%.

Coastal Bridge Advisors LLC acquired a new stake in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,193,180 shares of the investment management company's stock, valued at approximately $15,368,000. Golub Capital BDC accounts for 1.0% of Coastal Bridge Advisors LLC's portfolio, making the stock its 22nd biggest position. Coastal Bridge Advisors LLC owned approximately 0.46% of Golub Capital BDC as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Golub Capital BDC during the 2nd quarter worth about $25,000. Burk Holdings LLC acquired a new position in Golub Capital BDC in the second quarter valued at about $30,000. Main Street Group LTD acquired a new position in Golub Capital BDC in the first quarter valued at about $47,000. Fifth Third Bancorp bought a new stake in Golub Capital BDC during the first quarter worth about $68,000. Finally, Advisory Services Network LLC bought a new stake in Golub Capital BDC during the third quarter worth about $77,000. Institutional investors and hedge funds own 42.38% of the company's stock.

Golub Capital BDC Trading Down 0.3%

Shares of NASDAQ GBDC opened at $13.07 on Friday. Golub Capital BDC, Inc. has a 1-year low of $11.77 and a 1-year high of $14.93. The company has a 50-day moving average of $12.93 and a two-hundred day moving average of $12.84. The company has a market cap of $3.39 billion, a PE ratio of 20.11 and a beta of 0.39. 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 (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, beating 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 period in the prior year, the firm earned $0.39 earnings per share. As a group, equities analysts expect that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current fiscal year.

Golub Capital BDC Dividend Announcement

The company also recently disclosed 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 yield of 10.1%. The ex-dividend date is Monday, September 14th. Golub Capital BDC's dividend payout ratio (DPR) is presently 203.08%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GBDC shares. Zacks Research upgraded shares of Golub Capital BDC from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Royal Bank Of Canada decreased their price target 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. Wall Street Zen raised Golub Capital BDC from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Oppenheimer reiterated an "outperform" rating and issued a $14.00 price objective on shares of Golub Capital BDC in a research report on Wednesday, May 6th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Golub Capital BDC in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Golub Capital BDC currently has an average rating of "Moderate Buy" and a consensus price target 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.

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