Confluence Investment Management LLC Lowers Stock Position in Barings Bdc, Inc. $BBDC

Key Points

• Confluence Investment Management LLC reduced its stake in Barings Bdc, Inc. by 18.6%, bringing its total shares to 422,892 after selling 96,887 shares in the second quarter.
• Other institutional investors like Northern Trust Corp and Jane Street Group LLC increased their positions in Barings Bdc, indicating a mixed sentiment among major stakeholders.
• Barings Bdc's stock has shown resilience with a 52-week range of $7.66 to $10.85 and a recent earnings report beating expectations, posting $0.28 earnings per share against a consensus estimate of $0.26.

Confluence Investment Management LLC decreased its position in shares of Barings Bdc, Inc. (NYSE:BBDC - Free Report) by 18.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 422,892 shares of the company's stock after selling 96,887 shares during the period. Confluence Investment Management LLC owned 0.40% of Barings Bdc worth $3,865,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northern Trust Corp lifted its position in shares of Barings Bdc by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,075 shares of the company's stock valued at $661,000 after acquiring an additional 10,033 shares in the last quarter. Jane Street Group LLC grew its holdings in Barings Bdc by 200.9% during the 4th quarter. Jane Street Group LLC now owns 94,164 shares of the company's stock valued at $901,000 after buying an additional 62,866 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Barings Bdc by 3.9% during the fourth quarter. Ameriprise Financial Inc. now owns 86,757 shares of the company's stock valued at $830,000 after buying an additional 3,239 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Barings Bdc by 1.3% during the fourth quarter. Cetera Investment Advisers now owns 74,839 shares of the company's stock valued at $716,000 after buying an additional 993 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Barings Bdc in the fourth quarter worth $122,000. 44.09% of the stock is currently owned by institutional investors.

Barings Bdc Stock Performance

Shares of Barings Bdc stock opened at $9.31 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.47. The stock's fifty day moving average is $9.52 and its two-hundred day moving average is $9.24. Barings Bdc, Inc. has a 52 week low of $7.66 and a 52 week high of $10.85. The company has a market capitalization of $978.50 million, a PE ratio of 9.69 and a beta of 0.73.

Barings Bdc (NYSE:BBDC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $74.40 million during the quarter, compared to the consensus estimate of $66.41 million. Barings Bdc had a net margin of 35.67% and a return on equity of 9.76%. During the same quarter in the previous year, the firm posted $0.40 earnings per share. As a group, analysts expect that Barings Bdc, Inc. will post 1.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Bank of America cut their price objective on Barings Bdc from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Wells Fargo & Company raised Barings Bdc from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $8.50 to $9.50 in a research note on Wednesday, May 28th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $9.67.

About Barings Bdc

Barings BDC, Inc is a publicly traded, externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. It seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.