Global Endowment Management LP Sells 20,000 Shares of Golub Capital BDC, Inc. $GBDC

Key Points

• Global Endowment Management LP reduced its stake in Golub Capital BDC by 20.0%, selling 20,000 shares during the first quarter, while other investors like Onyx Bridge Wealth Group and Sigma Investment Counselors increased their holdings significantly.
• Chairman Lawrence E. Golub acquired over 6 million shares of the company, worth approximately $91.69 million, marking a substantial increase in his position.
• Golub Capital BDC announced a quarterly dividend of $0.39 per share, with a dividend yield of 10.6%, despite having a dividend payout ratio of 109.86%.

Global Endowment Management LP lowered its position in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 20.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,000 shares of the investment management company's stock after selling 20,000 shares during the quarter. Global Endowment Management LP's holdings in Golub Capital BDC were worth $1,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Allen Investment Management LLC grew its stake in 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 in the last quarter. Sound Income Strategies LLC grew its stake in 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 in the last quarter. Sage Mountain Advisors LLC lifted 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 worth $41,575,000 after buying an additional 236,613 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Golub Capital BDC by 77.8% during the 4th quarter. Bank of America Corp DE now owns 2,213,622 shares of the investment management company's stock worth $33,559,000 after acquiring an additional 968,525 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Golub Capital BDC by 168.0% during the 4th quarter. Millennium Management LLC now owns 1,909,304 shares of the investment management company's stock valued at $28,945,000 after acquiring an additional 1,196,800 shares during the last quarter. Hedge funds and other institutional investors own 42.38% of the company's stock.

Insider Buying and Selling at Golub Capital BDC

In related news, Chairman Lawrence E. Golub acquired 6,059,971 shares of the stock in a transaction dated Tuesday, May 27th. The shares were bought at an average cost of $15.13 per share, for a total transaction of $91,687,361.23. Following the purchase, the chairman owned 6,059,971 shares in the company, valued at approximately $91,687,361.23. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.60% of the company's stock.

Analyst Ratings Changes

GBDC has been the subject of several analyst reports. Wall Street Zen upgraded Golub Capital BDC from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Wells Fargo & Company lowered their target price on shares of Golub Capital BDC from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Finally, Bank of America cut their target price on shares of Golub Capital BDC from $16.50 to $15.50 and set a "buy" rating for the company in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Golub Capital BDC Stock Performance

GBDC traded down $0.1350 on Thursday, hitting $14.5850. 772,450 shares of the stock traded hands, compared to its average volume of 1,415,117. Golub Capital BDC, Inc. has a 52 week low of $12.68 and a 52 week high of $16.00. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $3.89 billion, a PE ratio of 10.28 and a beta of 0.51. The business has a fifty day moving average price of $14.87 and a two-hundred day moving average price of $14.88.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last issued its quarterly 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 firm had revenue of $218.34 million for the quarter, compared to analyst estimates of $215.47 million. During the same period in the previous year, the company posted $0.39 earnings per share. On average, research analysts predict that Golub Capital BDC, Inc. will post 1.6 EPS for the current fiscal year.

Golub Capital BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 10.7%. The ex-dividend date is Monday, September 15th. Golub Capital BDC's dividend payout ratio 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.