Partners Group Holding AG Grows Stake in Golub Capital BDC, Inc. $GBDC

Key Points

• Partners Group Holding AG has increased its stake in Golub Capital BDC, Inc. by 9.9%, making it one of the firm's largest holdings.
• Golub Capital BDC recently reported $0.39 EPS for the quarter, exceeding analysts’ expectations, and declared a quarterly dividend of $0.39.
• Several institutional investors, including Bank of America and Millennium Management, have significantly increased their positions in Golub Capital BDC during recent quarters, reflecting growing interest in the company.

Partners Group Holding AG grew its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,000,926 shares of the investment management company's stock after purchasing an additional 180,446 shares during the period. Golub Capital BDC makes up 1.3% of Partners Group Holding AG's portfolio, making the stock its 27th biggest position. Partners Group Holding AG owned about 0.75% of Golub Capital BDC worth $30,294,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allen Investment Management LLC grew its position in shares of 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 purchasing an additional 441,050 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of Golub Capital BDC by 4.2% in the first quarter. Sound Income Strategies LLC now owns 3,183,837 shares of the investment management company's stock valued at $48,203,000 after purchasing an additional 128,457 shares during the last quarter. Sage Mountain Advisors LLC grew its position in shares of Golub Capital BDC by 9.4% in the first quarter. Sage Mountain Advisors LLC now owns 2,746,062 shares of the investment management company's stock valued at $41,575,000 after purchasing an additional 236,613 shares during the last quarter. Bank of America Corp DE grew its position in shares of 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 purchasing an additional 968,525 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Golub Capital BDC by 168.0% in the fourth quarter. Millennium Management LLC now owns 1,909,304 shares of the investment management company's stock valued at $28,945,000 after purchasing an additional 1,196,800 shares during the last quarter. 42.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Lawrence E. Golub bought 6,059,971 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average price of $15.13 per share, with a total value of $91,687,361.23. Following the completion of the purchase, the chairman directly owned 6,059,971 shares of the company's stock, valued at approximately $91,687,361.23. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 3.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Bank of America lowered their price target on Golub Capital BDC from $16.50 to $15.50 and set a "buy" rating on the stock 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 research report on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their target price on Golub Capital BDC from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Golub Capital BDC presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Golub Capital BDC Stock Performance

Shares of GBDC traded down $0.1050 during mid-day trading on Thursday, hitting $14.6150. 874,764 shares of the company's stock were exchanged, compared to its average volume of 1,415,366. The stock's 50-day simple moving average is $14.87 and its 200-day simple moving average is $14.88. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 10.29 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 announced its quarterly earnings data 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. Golub Capital BDC had a net margin of 42.81% and a return on equity of 10.87%. The business had revenue of $218.34 million for the quarter, compared to analysts' expectations of $215.47 million. During the same period last year, the firm posted $0.39 earnings per share. On average, equities research analysts expect that Golub Capital BDC, Inc. will post 1.6 EPS for the current year.

Golub Capital BDC Dividend Announcement

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

Golub Capital BDC Profile

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.