Golub Capital BDC, Inc. $GBDC Shares Acquired by Arnhold LLC

Key Points

• Arnhold LLC has increased its stake in Golub Capital BDC by 2.5%, acquiring an additional 35,000 shares, bringing its total to 1,447,589 shares.
• Golub Capital BDC's Chairman, Lawrence E. Golub, purchased over 6 million shares valued at approximately $91.7 million, considerably increasing his ownership in the company.
• The company declared a quarterly dividend of $0.39 per share, representing an annualized yield of 10.7%, although its payout ratio stands at 109.86%.

Arnhold LLC increased its position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,447,589 shares of the investment management company's stock after buying an additional 35,000 shares during the period. Golub Capital BDC comprises about 2.2% of Arnhold LLC's portfolio, making the stock its 12th biggest position. Arnhold LLC owned 0.54% of Golub Capital BDC worth $21,916,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC acquired a new stake in shares of Golub Capital BDC in the 4th quarter valued at $19,145,000. Millennium Management LLC grew its stake in shares of Golub Capital BDC by 168.0% during the fourth quarter. Millennium Management LLC now owns 1,909,304 shares of the investment management company's stock worth $28,945,000 after purchasing an additional 1,196,800 shares in the last quarter. Bank of America Corp DE increased its holdings in Golub Capital BDC by 77.8% in the fourth quarter. Bank of America Corp DE now owns 2,213,622 shares of the investment management company's stock valued at $33,559,000 after buying an additional 968,525 shares during the last quarter. Sigma Investment Counselors Inc. acquired a new stake in Golub Capital BDC in the first quarter valued at $10,935,000. Finally, Allen Investment Management LLC raised its stake in Golub Capital BDC by 11.9% in the first quarter. Allen Investment Management LLC now owns 4,135,726 shares of the investment management company's stock valued at $62,615,000 after buying an additional 441,050 shares in the last quarter. Hedge funds and other institutional investors own 42.38% of the company's stock.

Insider Activity

In related news, Chairman Lawrence E. Golub acquired 6,059,971 shares of Golub Capital BDC stock in a transaction on 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 purchase, the chairman directly owned 6,059,971 shares in the company, valued at approximately $91,687,361.23. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is currently owned by corporate insiders.

Golub Capital BDC Stock Down 0.7%

Shares of NASDAQ GBDC opened at $14.62 on Friday. The business has a 50-day moving average price of $14.86 and a 200 day moving average price of $14.87. The stock has a market cap of $3.89 billion, a PE ratio of 10.30 and a beta of 0.51. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 1.28. Golub Capital BDC, Inc. has a 52-week low of $12.68 and a 52-week high of $16.00.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The investment management company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The company had revenue of $218.34 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the business earned $0.39 earnings per share. Equities research analysts forecast that Golub Capital BDC, Inc. will post 1.6 earnings per share for the current year.

Golub Capital BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 10.7%. Golub Capital BDC's dividend payout ratio (DPR) is currently 109.86%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GBDC. Bank of America lowered their price objective on Golub Capital BDC from $16.50 to $15.50 and set a "buy" rating for the company in a research report on Monday, May 12th. Wall Street Zen raised Golub Capital BDC from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price target on shares of Golub Capital BDC from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

About Golub Capital BDC

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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