Cresset Asset Management LLC Raises Position in BARINGS BDC, INC. $BBDC

Key Points

• Cresset Asset Management LLC has increased its holdings in Barings BDC by 13.4%, acquiring an additional 231,356 shares during the first quarter, bringing its total ownership to approximately $18.7 million.
• Barings BDC announced a quarterly dividend of $0.26 per share, resulting in an annual yield of 10.9%, though its dividend payout ratio stands at 108.33%.
• In recent trading, Barings BDC stock is down 1.1%, with analysts adjusting price targets between $9.50 and $10.00 while maintaining a "buy" and "overweight" rating.

Cresset Asset Management LLC lifted its position in BARINGS BDC, INC. (NYSE:BBDC - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,959,930 shares of the company's stock after acquiring an additional 231,356 shares during the quarter. Cresset Asset Management LLC owned approximately 1.86% of BARINGS BDC worth $18,698,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in BARINGS BDC by 85.4% in the 4th quarter. Wells Fargo & Company MN now owns 705,628 shares of the company's stock valued at $6,753,000 after buying an additional 324,945 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of BARINGS BDC in the 1st quarter worth approximately $2,878,000. Caliber Wealth Management LLC KS bought a new position in shares of BARINGS BDC in the first quarter valued at approximately $2,300,000. JPMorgan Chase & Co. increased its position in shares of BARINGS BDC by 4,532.8% during the fourth quarter. JPMorgan Chase & Co. now owns 119,618 shares of the company's stock valued at $1,145,000 after acquiring an additional 117,036 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of BARINGS BDC by 86.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 152,340 shares of the company's stock valued at $1,453,000 after acquiring an additional 70,691 shares during the last quarter. Hedge funds and other institutional investors own 44.09% of the company's stock.

BARINGS BDC Stock Performance

BARINGS BDC stock traded down $0.0050 during midday trading on Wednesday, reaching $9.6450. The stock had a trading volume of 328,500 shares, compared to its average volume of 476,137. The firm has a market capitalization of $1.01 billion, a PE ratio of 10.05 and a beta of 0.73. BARINGS BDC, INC. has a 12 month low of $7.66 and a 12 month high of $10.85. 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 firm's 50-day moving average price is $9.34 and its 200 day moving average price is $9.32.

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

BARINGS BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 10.8%. BARINGS BDC's payout ratio is presently 108.33%.

Insider Buying and Selling at BARINGS BDC

In related news, Director Stephen R. Byers bought 8,700 shares of the business's stock in a transaction on Friday, June 6th. The stock was acquired at an average price of $8.89 per share, for a total transaction of $77,343.00. Following the purchase, the director directly owned 59,734 shares in the company, valued at $531,035.26. This trade represents a 17.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elizabeth A. Murray bought 3,400 shares of BARINGS BDC stock in a transaction on Friday, June 6th. The shares were bought at an average cost of $8.84 per share, with a total value of $30,056.00. Following the acquisition, the chief financial officer directly owned 25,387 shares in the company, valued at approximately $224,421.08. This represents a 15.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BBDC shares. Bank of America cut their price objective on BARINGS BDC from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Wells Fargo & Company raised shares of BARINGS BDC from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $8.50 to $9.50 in a report on Wednesday, May 28th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, BARINGS BDC currently has a consensus rating of "Moderate Buy" and an average target price of $9.67.

BARINGS BDC Company Profile

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.