Cresset Asset Management LLC Sells 53,018 Shares of 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 stake in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 41.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 recently made changes to their positions in the company. VSM Wealth Advisory LLC grew its position in shares of 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 valued at $39,000 after buying an additional 1,295 shares during the last quarter. Future Financial Wealth Managment LLC grew its position in shares of 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 valued at $45,000 after buying an additional 1,690 shares during the last quarter. Optiver Holding B.V. boosted its position in shares of Golub Capital BDC by 28.7% during the 4th quarter. Optiver Holding B.V. now owns 3,087 shares of the investment management company's stock valued at $47,000 after purchasing an additional 688 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Golub Capital BDC by 31.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,613 shares of the investment management company's stock valued at $55,000 after purchasing an additional 868 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Golub Capital BDC by 794.3% during the 1st quarter. Blue Trust Inc. now owns 6,001 shares of the investment management company's stock valued at $91,000 after purchasing an additional 5,330 shares in the last quarter. Institutional investors own 42.38% of the company's stock.

Golub Capital BDC Stock Down 0.7%

GBDC stock opened at $14.62 on Friday. The stock's 50 day simple moving average is $14.86 and its 200 day simple moving average is $14.87. Golub Capital BDC, Inc. has a fifty-two week low of $12.68 and a fifty-two week high of $16.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.37 and a current ratio of 2.37. The company has a market cap of $3.89 billion, a P/E ratio of 10.30 and a beta of 0.51.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The investment management company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $218.34 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.39 EPS. On average, research analysts expect that Golub Capital BDC, Inc. will post 1.6 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 Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.56 annualized dividend and a dividend yield of 10.7%. Golub Capital BDC's dividend payout ratio is 109.86%.

Analysts Set New Price Targets

Several equities research analysts recently commented on GBDC shares. Wall Street Zen upgraded Golub Capital BDC from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Bank of America cut their target price on Golub Capital BDC from $16.50 to $15.50 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Wells Fargo & Company cut their target price on Golub Capital BDC from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Golub Capital BDC presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Insider Activity at Golub Capital BDC

In related news, Chairman Lawrence E. Golub acquired 6,059,971 shares of the stock in a transaction dated Tuesday, May 27th. The stock was purchased at an average cost of $15.13 per share, with a total value of $91,687,361.23. Following the completion of the purchase, the chairman directly owned 6,059,971 shares in the company, valued at $91,687,361.23. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by company insiders.

Golub Capital BDC 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.

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