Financial Gravity Asset Management Inc. Takes $2.88 Million Position in BARINGS BDC, INC. (NYSE:BBDC)

Financial Gravity Asset Management Inc. purchased a new position in shares of BARINGS BDC, INC. (NYSE:BBDC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 301,719 shares of the company's stock, valued at approximately $2,878,000. Financial Gravity Asset Management Inc. owned approximately 0.29% of BARINGS BDC as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in BBDC. Lee Danner & Bass Inc. acquired a new position in shares of BARINGS BDC in the fourth quarter valued at approximately $25,000. Golden State Wealth Management LLC acquired a new stake in BARINGS BDC in the first quarter valued at $37,000. Ameriflex Group Inc. bought a new position in BARINGS BDC during the 4th quarter worth $80,000. Nomura Asset Management Co. Ltd. lifted its holdings in BARINGS BDC by 276.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,144 shares of the company's stock worth $97,000 after buying an additional 7,448 shares during the period. Finally, Mariner LLC bought a new stake in shares of BARINGS BDC in the 4th quarter valued at about $105,000. 44.09% of the stock is currently owned by institutional investors and hedge funds.

BARINGS BDC Trading Up 1.2%

Shares of BARINGS BDC stock traded up $0.12 on Friday, hitting $9.52. 229,061 shares of the company's stock traded hands, compared to its average volume of 459,705. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 10.12 and a beta of 0.70. The company has a fifty day moving average of $9.05 and a two-hundred day moving average of $9.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.13 and a quick ratio of 0.13. BARINGS BDC, INC. has a one year low of $7.66 and a one year high of $10.85.

BARINGS BDC (NYSE:BBDC - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.03). The business had revenue of $64.44 million for the quarter, compared to the consensus estimate of $67.78 million. BARINGS BDC had a return on equity of 10.74% and a net margin of 35.21%. BARINGS BDC's quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. As a group, sell-side analysts expect that BARINGS BDC, INC. will post 1.13 earnings per share for the current year.

BARINGS BDC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Wednesday, June 4th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 10.93%. BARINGS BDC's payout ratio is 110.64%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BBDC shares. Bank of America lowered 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 shares of BARINGS BDC from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $8.50 to $9.50 in a research report on Wednesday, May 28th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of BARINGS BDC from $10.50 to $9.50 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th.

Insider Transactions at BARINGS BDC

In other BARINGS BDC news, CEO Eric J. Lloyd purchased 34,375 shares of BARINGS BDC stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average price of $9.12 per share, with a total value of $313,500.00. Following the transaction, the chief executive officer owned 73,569 shares in the company, valued at $670,949.28. This trade represents a 87.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matthew Freund acquired 3,522 shares of the stock in a transaction on Monday, May 19th. The shares were acquired at an average price of $9.07 per share, for a total transaction of $31,944.54. Following the acquisition, the president owned 20,002 shares of the company's stock, valued at approximately $181,418.14. The trade was a 21.37% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 49,997 shares of company stock valued at $452,844 in the last 90 days. Corporate insiders own 0.52% of the company's stock.

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.