Lalia Capital LLC Takes Position in Golub Capital BDC, Inc. $GBDC

Key Points

• Lalia Capital LLC disclosed a new position in Golub Capital BDC, buying 2.48 million shares worth about $33.6 million. The stake represents 26.3% of Lalia Capital’s portfolio and makes GBDC its second-largest holding.
• Golub Capital BDC reported Q1 earnings that missed expectations, posting $0.34 EPS versus $0.36 expected. The stock was also noted as down 1.1%, trading around $13.04.
• The company announced a quarterly dividend of $0.33 per share, payable June 29, implying a 10.1% annualized yield. However, the dividend payout ratio is high at 171.43%, and analyst sentiment is mixed with an average rating of Moderate Buy.

Lalia Capital LLC purchased a new position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,479,179 shares of the investment management company's stock, valued at approximately $33,642,000. Golub Capital BDC comprises 26.3% of Lalia Capital LLC's investment portfolio, making the stock its 2nd largest holding. Lalia Capital LLC owned 0.94% of Golub Capital BDC at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Main Street Group LTD purchased a new stake in shares of Golub Capital BDC during the 3rd quarter worth approximately $51,000. Advisory Services Network LLC purchased a new stake in shares of Golub Capital BDC during the 3rd quarter worth approximately $77,000. Clearstead Advisors LLC increased its stake in shares of Golub Capital BDC by 48.6% during the 4th quarter. Clearstead Advisors LLC now owns 5,933 shares of the investment management company's stock worth $81,000 after purchasing an additional 1,941 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Golub Capital BDC by 104.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,447 shares of the investment management company's stock worth $87,000 after purchasing an additional 3,287 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of Golub Capital BDC by 213.5% during the 3rd quarter. Allworth Financial LP now owns 6,872 shares of the investment management company's stock worth $94,000 after purchasing an additional 4,680 shares during the last quarter. Hedge funds and other institutional investors own 42.38% of the company's stock.

Golub Capital BDC Stock Down 1.1%

GBDC opened at $13.04 on Friday. The company has a 50 day moving average of $13.05 and a 200 day moving average of $13.14. The company has a market cap of $3.40 billion, a PE ratio of 16.94 and a beta of 0.39. Golub Capital BDC, Inc. has a 12 month low of $11.77 and a 12 month high of $15.63. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.25.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The investment management company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of ($5.28) million during the quarter, compared to the consensus estimate of $201.71 million. Golub Capital BDC had a return on equity of 10.20% and a net margin of 24.64%.During the same period last year, the business posted $0.30 earnings per share. On average, sell-side analysts expect that Golub Capital BDC, Inc. will post 1.36 EPS for the current year.

Golub Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 10.1%. The ex-dividend date of this dividend is Monday, June 15th. Golub Capital BDC's dividend payout ratio (DPR) is presently 171.43%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GBDC. Zacks Research lowered shares of Golub Capital BDC from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods decreased their price target on shares of Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, February 6th. Wells Fargo & Company cut their price objective on shares of Golub Capital BDC from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Friday, February 6th. Oppenheimer reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of Golub Capital BDC in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada cut their price objective on shares of Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.00.

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.

Want to see what other hedge funds are holding GBDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.