Golub Capital BDC, Inc. $GBDC Shares Sold by Allen Investment Management LLC

Key Points

• Allen Investment Management LLC cut its stake in Golub Capital BDC by 2.5% in the fourth quarter, selling 103,576 shares and still holding about 4.07 million shares worth roughly $55.2 million.
• Golub Capital BDC reported mixed quarterly results, with EPS of $0.34 missing estimates of $0.36 and revenue well below expectations, though it still posted a 24.64% net margin and 10.20% return on equity.
• The company declared a quarterly dividend of $0.33, payable June 29, implying an annualized yield of 9.9%; meanwhile, analysts currently rate the stock a “Moderate Buy” with a $14 average target price.

Allen Investment Management LLC lowered its stake in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,069,890 shares of the investment management company's stock after selling 103,576 shares during the period. Allen Investment Management LLC owned approximately 1.55% of Golub Capital BDC worth $55,228,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Main Street Group LTD acquired a new position in shares of Golub Capital BDC in the third quarter worth about $51,000. Advisory Services Network LLC purchased a new position in Golub Capital BDC during the third quarter valued at approximately $77,000. Clearstead Advisors LLC increased its stake in Golub Capital BDC by 48.6% in the 4th quarter. Clearstead Advisors LLC now owns 5,933 shares of the investment management company's stock valued at $81,000 after buying an additional 1,941 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Golub Capital BDC by 104.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,447 shares of the investment management company's stock worth $87,000 after acquiring an additional 3,287 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Golub Capital BDC by 213.5% during the third quarter. Allworth Financial LP now owns 6,872 shares of the investment management company's stock worth $94,000 after acquiring an additional 4,680 shares in the last quarter. 42.38% of the stock is owned by institutional investors.

Golub Capital BDC Stock Performance

GBDC opened at $13.36 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.25. The stock's 50 day moving average price is $13.00 and its two-hundred day moving average price is $13.16. The firm has a market capitalization of $3.48 billion, a P/E ratio of 17.35 and a beta of 0.39. Golub Capital BDC, Inc. has a 12-month low of $11.77 and a 12-month high of $15.63.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The investment management company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Golub Capital BDC had a net margin of 24.64% and a return on equity of 10.20%. The business had revenue of ($5.28) million during the quarter, compared to the consensus estimate of $201.71 million. During the same period in the prior year, the company posted $0.30 earnings per share. On average, equities analysts forecast that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current year.

Golub Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.32 annualized dividend and a yield of 9.9%. Golub Capital BDC's payout ratio is currently 171.43%.

Analyst Ratings Changes

Several brokerages have weighed in on GBDC. Oppenheimer reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Golub Capital BDC in a research report on Wednesday, May 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Golub Capital BDC in a research note on Friday, March 27th. Wells Fargo & Company decreased their target price on shares of Golub Capital BDC from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, February 6th. Zacks Research lowered shares of Golub Capital BDC from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada reduced their price objective on shares of Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Golub Capital BDC presently has an average rating of "Moderate Buy" and an average price target of $14.00.

About Golub Capital BDC

Golub Capital BDC NASDAQ: GBDC is a publicly traded business development company specializing in providing debt and equity financing solutions to middle-market companies in the United States. Externally managed by Golub Capital LLC, the firm focuses on building a diversified portfolio of senior secured loans, unitranche facilities and second-lien debt instruments designed to support growth, acquisitions and recapitalizations. As a closed-end investment vehicle, GBDC offers investors direct exposure to private credit strategies within a regulated structure.

The company's core business activities center on originating and managing bespoke financing arrangements for U.S.

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