Corient Private Wealth LP Trims Stake in Golub Capital BDC, Inc. $GBDC

Key Points

• Corient Private Wealth LP cut its Golub Capital BDC stake by 30.2% in the second quarter, selling 1.37 million shares and retaining 3.16 million shares worth approximately $40.7 million. Institutional investors collectively own 42.38% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $13.90. Golub Capital BDC also exceeded quarterly EPS expectations, reporting $0.34 versus the $0.33 consensus estimate.
• The company declared a quarterly dividend of $0.33 per share, equivalent to a 10.3% annualized yield, despite a payout ratio above 200%. Shares recently traded at $12.79, within a 52-week range of $11.77 to $14.85.

Corient Private Wealth LP reduced its position in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 30.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,162,346 shares of the investment management company's stock after selling 1,365,434 shares during the quarter. Corient Private Wealth LP owned about 1.22% of Golub Capital BDC worth $40,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allworth Financial LP purchased a new position in shares of Golub Capital BDC in the 2nd quarter valued at approximately $25,000. Burk Holdings LLC acquired a new stake in shares of Golub Capital BDC in the 2nd quarter worth $30,000. Main Street Group LTD purchased a new stake in shares of Golub Capital BDC in the first quarter valued at about $47,000. Fifth Third Bancorp purchased a new stake in shares of Golub Capital BDC in the first quarter valued at about $68,000. Finally, Trust Co. of Vermont acquired a new position in shares of Golub Capital BDC during the second quarter worth about $77,000. Hedge funds and other institutional investors own 42.38% of the company's stock.

Analyst Upgrades and Downgrades

GBDC has been the subject of several analyst reports. Zacks Research raised shares of Golub Capital BDC from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Keefe, Bruyette & Woods dropped their target price on 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. Wall Street Zen raised Golub Capital BDC from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Golub Capital BDC in a research note on Wednesday, June 24th. One investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.90.

Golub Capital BDC Trading Up 0.7%

Golub Capital BDC stock opened at $12.79 on Friday. The stock has a market cap of $3.32 billion, a PE ratio of 19.68 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. The stock has a 50-day moving average price of $13.00 and a 200 day moving average price of $12.87. Golub Capital BDC, Inc. has a 52 week low of $11.77 and a 52 week high of $14.85.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The company 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 last year, the company earned $0.39 EPS. Equities research analysts predict that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current fiscal year.

Golub Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.32 annualized dividend and a dividend yield of 10.3%. Golub Capital BDC's payout ratio is currently 203.08%.

Insider Activity at Golub Capital BDC

In related news, Director Lawrence Golub sold 1,676,387 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.

Golub Capital BDC Company Profile

Golub Capital BDC, Inc NASDAQ: GBDC is a business development company that invests in and provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by making investments in privately held businesses.

Its investment portfolio primarily consists of senior secured loans, including first-lien and unitranche loans, as well as second-lien debt, subordinated debt and equity investments. Golub Capital BDC generally works with companies across a range of industries and may support acquisitions, recapitalizations, refinancings, growth initiatives and other corporate financing needs.

Golub Capital BDC was established in 2010 and is externally managed by GC Advisors LLC, an affiliate of Golub Capital, a private credit asset manager.

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