Condor Capital Management Boosts Stake in Golub Capital BDC, Inc. (NASDAQ:GBDC)

Key Points

• Condor Capital Management increased its holdings in Golub Capital BDC, Inc. by 11.2% in Q1, owning 342,054 shares valued at approximately $5.18 million.
• Chairman Lawrence E. Golub purchased 6,059,971 shares at an average price of $15.13, significantly increasing his ownership in the company.
• Golub Capital BDC declared a quarterly dividend of $0.39, representing an annual yield of 10.5%, with a payout ratio currently at 109.86%.

Condor Capital Management lifted its stake in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 342,054 shares of the investment management company's stock after purchasing an additional 34,427 shares during the quarter. Condor Capital Management owned 0.13% of Golub Capital BDC worth $5,179,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. VSM Wealth Advisory LLC increased its position in shares of Golub Capital BDC by 102.0% in the first quarter. VSM Wealth Advisory LLC now owns 2,565 shares of the investment management company's stock worth $39,000 after purchasing an additional 1,295 shares during the last quarter. Future Financial Wealth Managment LLC lifted its holdings in Golub Capital BDC by 130.0% in the 1st quarter. Future Financial Wealth Managment LLC now owns 2,990 shares of the investment management company's stock worth $45,000 after buying an additional 1,690 shares during the period. Optiver Holding B.V. lifted its holdings in Golub Capital BDC by 28.7% in the 4th quarter. Optiver Holding B.V. now owns 3,087 shares of the investment management company's stock worth $47,000 after buying an additional 688 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Golub Capital BDC by 31.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,613 shares of the investment management company's stock worth $55,000 after acquiring an additional 868 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Golub Capital BDC by 794.3% in the 1st quarter. Blue Trust Inc. now owns 6,001 shares of the investment management company's stock worth $91,000 after acquiring an additional 5,330 shares in the last quarter. 42.38% of the stock is currently owned by institutional investors.

Golub Capital BDC Trading Down 0.4%

NASDAQ GBDC traded down $0.06 during trading hours on Monday, hitting $14.79. 991,669 shares of the company were exchanged, compared to its average volume of 1,112,662. The stock has a 50-day moving average price of $14.92 and a 200 day moving average price of $14.91. 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. The stock has a market cap of $3.94 billion, a PE ratio of 10.42 and a beta of 0.51.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last announced its earnings results on Monday, August 4th. The investment management company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Golub Capital BDC had a return on equity of 10.87% and a net margin of 42.81%. The business had revenue of $218.34 million during the quarter, compared to analyst estimates of $215.47 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. Analysts forecast that Golub Capital BDC, Inc. will post 1.6 earnings per share for the current fiscal year.

Golub Capital BDC Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen raised Golub Capital BDC from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Bank of America lowered their target price 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. Finally, Wells Fargo & Company decreased their price target on Golub Capital BDC from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th.

Insider Activity

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

Golub Capital BDC Company 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.