Cresset Asset Management LLC Trims Holdings in Golub Capital BDC, Inc. $GBDC

Key Points

• Cresset Asset Management LLC reduced its holdings in Golub Capital BDC, Inc. by 41.9%, selling 53,018 shares and retaining a total of 73,385 shares worth approximately $1.11 million.
• Golub Capital BDC recently declared a quarterly dividend of $0.39, amounting to an annual yield of 10.7%, despite having a payout ratio of 109.86%.
• Research analysts have set a consensus target price of $15.00 for Golub Capital BDC shares, with varying ratings from firms including Bank of America and Wells Fargo.

Cresset Asset Management LLC lessened its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 41.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 73,385 shares of the investment management company's stock after selling 53,018 shares during the period. Cresset Asset Management LLC's holdings in Golub Capital BDC were worth $1,111,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. VSM Wealth Advisory LLC increased its stake in Golub Capital BDC by 102.0% in the 1st quarter. VSM Wealth Advisory LLC now owns 2,565 shares of the investment management company's stock worth $39,000 after buying an additional 1,295 shares in the last quarter. Future Financial Wealth Managment LLC increased its stake in Golub Capital BDC by 130.0% in the 1st quarter. Future Financial Wealth Managment LLC now owns 2,990 shares of the investment management company's stock worth $45,000 after buying an additional 1,690 shares in the last quarter. Optiver Holding B.V. increased its stake in Golub Capital BDC by 28.7% in the 4th quarter. Optiver Holding B.V. now owns 3,087 shares of the investment management company's stock worth $47,000 after buying an additional 688 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Golub Capital BDC by 31.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,613 shares of the investment management company's stock worth $55,000 after buying an additional 868 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Golub Capital BDC by 794.3% in the 1st quarter. Blue Trust Inc. now owns 6,001 shares of the investment management company's stock worth $91,000 after buying an additional 5,330 shares in the last quarter. Hedge funds and other institutional investors own 42.38% of the company's stock.

Golub Capital BDC Trading Down 0.1%

Shares of NASDAQ:GBDC traded down $0.01 during trading on Wednesday, hitting $14.72. The company had a trading volume of 721,650 shares, compared to its average volume of 1,046,809. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 10.37 and a beta of 0.51. Golub Capital BDC, Inc. has a one year low of $12.68 and a one year high of $16.00. The company has a fifty day simple moving average of $14.87 and a two-hundred day simple moving average of $14.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.37 and a quick ratio of 2.37.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The investment management company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $218.34 million during the quarter, compared to analyst estimates of $215.47 million. Golub Capital BDC had a return on equity of 10.87% and a net margin of 42.81%.During the same period last year, the company earned $0.39 EPS. As a group, equities analysts forecast that Golub Capital BDC, Inc. will post 1.6 earnings per share for the current year.

Golub Capital BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.39 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 10.6%. Golub Capital BDC's dividend payout ratio (DPR) is presently 109.86%.

Wall Street Analyst Weigh In

GBDC has been the subject of a number of analyst reports. Bank of America cut their price target on Golub Capital BDC from $16.50 to $15.50 and set a "buy" rating for the company in a research note on Monday, May 12th. Wall Street Zen upgraded Golub Capital BDC from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Golub Capital BDC currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Golub Capital BDC Company Profile

Golub Capital BDC, Inc (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors.