Financial Gravity Asset Management Inc. Purchases New Position in BARINGS BDC, INC. (NYSE:BBDC)

Financial Gravity Asset Management Inc. purchased a new position in BARINGS BDC, INC. (NYSE:BBDC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBDC. Wells Fargo & Company MN increased its position in shares of BARINGS BDC by 85.4% during the 4th quarter. Wells Fargo & Company MN now owns 705,628 shares of the company's stock worth $6,753,000 after purchasing an additional 324,945 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings 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 worth $1,453,000 after buying an additional 70,691 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of BARINGS BDC in the fourth quarter valued at approximately $8,891,000. Icon Advisers Inc. Co. acquired a new position in shares of BARINGS BDC in the 4th quarter worth approximately $2,577,000. Finally, Jane Street Group LLC boosted its holdings in shares of BARINGS BDC by 200.9% in the 4th quarter. Jane Street Group LLC now owns 94,164 shares of the company's stock worth $901,000 after acquiring an additional 62,866 shares in the last quarter. Institutional investors own 44.09% of the company's stock.

Insider Buying and Selling at BARINGS BDC

In other BARINGS BDC news, Director Stephen R. Byers bought 8,700 shares of the company's stock in a transaction on Friday, June 6th. The stock was bought at an average price of $8.89 per share, for a total transaction of $77,343.00. Following the transaction, the director owned 59,734 shares of the company's stock, valued at approximately $531,035.26. The trade was a 17.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Elizabeth A. Murray purchased 3,400 shares of the business's stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $8.84 per share, for a total transaction of $30,056.00. Following the purchase, the chief financial officer owned 25,387 shares in the company, valued at $224,421.08. This trade represents a 15.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 49,997 shares of company stock worth $452,844 over the last quarter. Company insiders own 0.52% of the company's stock.

BARINGS BDC Trading Up 1.0%

BBDC stock traded up $0.09 during trading on Friday, hitting $9.49. The company had a trading volume of 344,982 shares, compared to its average volume of 461,359. The firm has a 50-day moving average price of $9.06 and a 200-day moving average price of $9.35. 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 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.42. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 10.10 and a beta of 0.70.

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

BARINGS BDC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 10.96%. BARINGS BDC's payout ratio is presently 110.64%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BBDC. Bank of America dropped their price target on BARINGS BDC from $11.00 to $10.00 and set a "buy" rating for the company in a report on Monday, May 19th. Wells Fargo & Company upgraded shares of BARINGS BDC from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $8.50 to $9.50 in a research report on Wednesday, May 28th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of BARINGS BDC from $10.50 to $9.50 and set a "market perform" rating on the stock in a report on Tuesday, April 8th.

BARINGS BDC 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.