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

Key Points

• Ares Management LLC reduced its stake in Golub Capital BDC by 12.1%, now holding 2,498,802 shares, making the stock 7th largest in its portfolio.
• Golub Capital BDC reported earnings of $0.39 per share for the last quarter, exceeding analysts' estimates, with a revenue of $218.34 million.
• The company announced a quarterly dividend of $0.39 per share, representing an annualized yield of 10.5%, with a payout ratio of 109.86%.

Ares Management LLC cut its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,498,802 shares of the investment management company's stock after selling 345,458 shares during the period. Golub Capital BDC makes up approximately 2.3% of Ares Management LLC's portfolio, making the stock its 7th biggest position. Ares Management LLC owned approximately 0.94% of Golub Capital BDC worth $37,832,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GBDC. Aquatic Capital Management LLC bought a new position in shares of Golub Capital BDC in the 4th quarter worth about $182,000. Northern Trust Corp raised its position in shares of Golub Capital BDC by 18.0% in the 4th quarter. Northern Trust Corp now owns 110,559 shares of the investment management company's stock worth $1,676,000 after acquiring an additional 16,904 shares in the last quarter. Jane Street Group LLC raised its position in shares of Golub Capital BDC by 100.4% in the 4th quarter. Jane Street Group LLC now owns 150,074 shares of the investment management company's stock worth $2,275,000 after acquiring an additional 75,183 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Golub Capital BDC in the 4th quarter valued at about $753,000. Finally, AXA S.A. acquired a new stake in shares of Golub Capital BDC in the 4th quarter valued at about $275,000. 42.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America reduced their target price on Golub Capital BDC from $16.50 to $15.50 and set a "buy" rating for the company in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Golub Capital BDC Stock Up 0.9%

Shares of GBDC traded up $0.13 during trading hours on Thursday, hitting $14.79. The stock had a trading volume of 742,034 shares, compared to its average volume of 966,179. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.37 and a quick ratio of 2.37. The firm has a 50 day simple moving average of $14.90 and a 200-day simple moving average of $14.80. The firm has a market capitalization of $3.94 billion, a P/E ratio of 10.42 and a beta of 0.48. Golub Capital BDC, Inc. has a 1-year low of $12.68 and a 1-year high of $16.00.

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

Golub Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Monday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 10.5%. Golub Capital BDC's payout ratio is 109.86%.

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.