Lalia Capital LLC Acquires Shares of 2,605,281 Golub Capital BDC, Inc. $GBDC

Key Points

• Lalia Capital acquired 2.61 million GBDC shares worth approximately $33.6 million, making Golub Capital BDC its second-largest portfolio holding and representing about 1% of GBDC’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $13.90 target price, despite several recent target-price reductions.
• Golub Capital BDC reported quarterly EPS of $0.34, slightly above estimates, and declared a $0.33 quarterly dividend, equivalent to a 10% annualized yield; however, its dividend payout ratio remains high at 203.08%.

Lalia Capital LLC bought a new position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,605,281 shares of the investment management company's stock, valued at approximately $33,556,000. Golub Capital BDC makes up 16.3% of Lalia Capital LLC's investment portfolio, making the stock its 2nd largest position. Lalia Capital LLC owned approximately 1.00% of Golub Capital BDC at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GBDC. Keel Point LLC increased its holdings in shares of Golub Capital BDC by 2.7% in the second quarter. Keel Point LLC now owns 39,845 shares of the investment management company's stock valued at $584,000 after purchasing an additional 1,039 shares in the last quarter. Ironsides Asset Advisors LLC lifted its holdings in Golub Capital BDC by 7.6% during the 4th quarter. Ironsides Asset Advisors LLC now owns 15,755 shares of the investment management company's stock worth $214,000 after buying an additional 1,113 shares in the last quarter. Levin Capital Strategies L.P. lifted its holdings in Golub Capital BDC by 12.9% during the 1st quarter. Levin Capital Strategies L.P. now owns 11,628 shares of the investment management company's stock worth $147,000 after buying an additional 1,328 shares in the last quarter. Cetera Investment Advisers boosted its position in Golub Capital BDC by 1.3% in the 4th quarter. Cetera Investment Advisers now owns 106,374 shares of the investment management company's stock valued at $1,443,000 after buying an additional 1,361 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Golub Capital BDC by 3.8% in the 3rd quarter. Mackenzie Financial Corp now owns 42,767 shares of the investment management company's stock valued at $585,000 after buying an additional 1,557 shares during the period. 42.38% of the stock is owned by institutional investors.

Insider Transactions at Golub Capital BDC

In other news, Director Lawrence E. Golub sold 1,676,387 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $13.06, for a total transaction of $21,893,614.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

GBDC has been the subject of a number of recent research reports. 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. Wall Street Zen raised Golub Capital BDC from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research raised Golub Capital BDC from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Oppenheimer restated an "outperform" rating and set a $14.00 target price on shares of Golub Capital BDC in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada reduced their target price on shares of Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.90.

Golub Capital BDC Stock Performance

GBDC stock opened at $13.20 on Friday. The business's fifty day moving average is $12.89 and its 200-day moving average is $12.83. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.22. The company has a market cap of $3.43 billion, a P/E ratio of 20.31 and a beta of 0.39. Golub Capital BDC, Inc. has a twelve month low of $11.77 and a twelve month high of $14.93.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The investment management company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $98.53 million during the quarter, compared to analysts' expectations of $189.91 million. Golub Capital BDC had a return on equity of 9.91% and a net margin of 21.45%.During the same period in the previous year, the firm earned $0.39 earnings per share. Equities research analysts forecast that Golub Capital BDC, Inc. will post 1.36 EPS for the current year.

Golub Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, September 14th. This represents a $1.32 dividend on an annualized basis and a yield of 10.0%. Golub Capital BDC's dividend payout ratio (DPR) is 203.08%.

About Golub Capital BDC

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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