Golub Capital BDC, Inc. $GBDC Stock: Allen Investment Management LLC Decreases Position

Key Points

• Allen Investment Management cut its Golub Capital BDC stake by 27.1% in the third quarter, selling 861,179 shares and retaining about 2.31 million shares worth $29.2 million.
• Institutional ownership stands at 42.38%; several other investors increased or initiated positions in the second quarter, including HighTower Advisors and Van ECK Associates.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $13.90, compared with the stock’s recent price of $12.74.

Allen Investment Management LLC trimmed its position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 27.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,312,879 shares of the investment management company's stock after selling 861,179 shares during the quarter. Allen Investment Management LLC owned approximately 0.89% of Golub Capital BDC worth $29,212,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GBDC. HighTower Advisors LLC boosted its position in shares of Golub Capital BDC by 4.2% in the 2nd quarter. HighTower Advisors LLC now owns 7,345,885 shares of the investment management company's stock worth $94,615,000 after buying an additional 299,240 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Golub Capital BDC by 11.0% in the second quarter. Van ECK Associates Corp now owns 4,710,275 shares of the investment management company's stock valued at $60,668,000 after purchasing an additional 466,249 shares in the last quarter. Corient Private Wealth LP purchased a new stake in shares of Golub Capital BDC in the second quarter valued at about $50,833,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Golub Capital BDC in the second quarter valued at about $47,015,000. Finally, Bank of America Corp DE acquired a new stake in shares of Golub Capital BDC in the second quarter valued at approximately $43,696,000. Institutional investors and hedge funds own 42.38% of the company's stock.

Golub Capital BDC Stock Performance

Golub Capital BDC stock opened at $12.74 on Friday. The firm has a market capitalization of $3.31 billion, a P/E ratio of 19.60 and a beta of 0.43. The stock has a fifty day moving average price of $12.51 and a 200 day moving average price of $12.79. Golub Capital BDC, Inc. has a 52 week low of $11.77 and a 52 week high of $14.40. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.22.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Golub Capital BDC from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Golub Capital BDC from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods reduced their target price on Golub Capital BDC from $14.00 to $13.50 and set an "outperform" rating on the stock in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Golub Capital BDC has a consensus rating of "Moderate Buy" and an average price target of $13.90.

About Golub Capital BDC

Golub Capital BDC, Inc is a business development company that provides financing to middle-market companies. The company primarily invests in senior secured loans and other debt investments, with the objective of generating current income and, to a lesser extent, capital appreciation.

Its investment portfolio generally consists of loans to established businesses across a range of industries. Golub Capital BDC may also make subordinated debt and equity-related investments, allowing it to provide flexible financing solutions alongside private equity sponsors and other financial partners.

The company focuses primarily on middle-market businesses in the United States.

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