HighTower Advisors LLC Acquires 299,240 Shares of Golub Capital BDC, Inc. $GBDC

Key Points

• HighTower Advisors increased its Golub Capital BDC stake by 4.2%, acquiring 299,240 shares to own 7.35 million shares valued at approximately $94.6 million. Institutional investors collectively own 42.38% of the company.
• Director Lawrence Golub sold 1.68 million shares for approximately $21.9 million. Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $13.90.
• Golub Capital BDC reported quarterly EPS of $0.34, slightly above estimates, and declared a $0.33 quarterly dividend. The dividend implies a 10.2% yield, though the payout ratio is elevated at 203.08%.

HighTower Advisors LLC increased its stake in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,345,885 shares of the investment management company's stock after acquiring an additional 299,240 shares during the period. HighTower Advisors LLC owned approximately 2.83% of Golub Capital BDC worth $94,615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Golub Capital BDC by 41.4% during the 1st quarter. Royal Bank of Canada now owns 131,544 shares of the investment management company's stock valued at $1,991,000 after purchasing an additional 38,534 shares during the last quarter. NewEdge Advisors LLC lifted its position in Golub Capital BDC by 19.7% in the first quarter. NewEdge Advisors LLC now owns 43,534 shares of the investment management company's stock worth $659,000 after buying an additional 7,178 shares during the last quarter. Empowered Funds LLC lifted its position in Golub Capital BDC by 140.0% in the first quarter. Empowered Funds LLC now owns 27,411 shares of the investment management company's stock worth $415,000 after buying an additional 15,988 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Golub Capital BDC during the first quarter worth $6,491,000. Finally, Focus Partners Wealth boosted its stake in Golub Capital BDC by 24.9% during the first quarter. Focus Partners Wealth now owns 33,355 shares of the investment management company's stock worth $505,000 after buying an additional 6,658 shares during the period. 42.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Golub Capital BDC

In related news, Director Lawrence Golub sold 1,676,387 shares of Golub Capital BDC stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $13.06, for a total transaction of $21,893,614.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on GBDC shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Golub Capital BDC in a report on Wednesday, June 24th. Keefe, Bruyette & Woods dropped their target price on Golub Capital BDC from $14.00 to $13.50 and set an "outperform" rating for the company in a research report on Wednesday, August 5th. Zacks Research upgraded Golub Capital BDC from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Finally, Wall Street Zen upgraded Golub Capital BDC from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $13.90.

Golub Capital BDC Price Performance

GBDC opened at $13.00 on Monday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 20.00 and a beta of 0.39. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.22. Golub Capital BDC, Inc. has a 12-month low of $11.77 and a 12-month high of $14.85. The business's fifty day simple moving average is $13.01 and its 200-day simple moving average is $12.85.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The investment management company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Golub Capital BDC had a return on equity of 9.91% and a net margin of 21.45%.The firm had revenue of $98.53 million during the quarter, compared to the consensus estimate of $189.91 million. During the same period in the previous year, the company posted $0.39 earnings per share. On average, equities research analysts anticipate that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current fiscal year.

Golub Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be issued a $0.33 dividend. The ex-dividend date is Monday, September 14th. This represents a $1.32 annualized dividend and a dividend yield of 10.2%. Golub Capital BDC's payout ratio is currently 203.08%.

Golub Capital BDC Company Profile

Golub Capital BDC NASDAQ: GBDC is a publicly traded business development company specializing in providing debt and equity financing solutions to middle-market companies in the United States. Externally managed by Golub Capital LLC, the firm focuses on building a diversified portfolio of senior secured loans, unitranche facilities and second-lien debt instruments designed to support growth, acquisitions and recapitalizations. As a closed-end investment vehicle, GBDC offers investors direct exposure to private credit strategies within a regulated structure.

The company's core business activities center on originating and managing bespoke financing arrangements for U.S.

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