Mackenzie Financial Corp Invests $499,000 in Golub Capital BDC, Inc. (NASDAQ:GBDC)

Key Points

• Mackenzie Financial Corp acquired 32,940 shares in Golub Capital BDC, valuing approximately $499,000, during the first quarter, indicating growing interest from institutional investors.
• Golub Capital BDC recently announced a quarterly dividend of $0.39, yielding 10.5%, with a dividend payout ratio of 109.86% for the year.
• Wall Street analysts have mixed ratings, with Wells Fargo lowering its target price from $15.00 to $14.00 while Bank of America maintains a "buy" rating with a target of $15.50.

Mackenzie Financial Corp acquired a new position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 32,940 shares of the investment management company's stock, valued at approximately $499,000.

A number of other hedge funds have also recently made changes to their positions in the stock. LPL Financial LLC lifted its stake in shares of Golub Capital BDC by 16.1% during the 1st quarter. LPL Financial LLC now owns 424,266 shares of the investment management company's stock worth $6,423,000 after purchasing an additional 58,907 shares during the last quarter. Texas Yale Capital Corp. lifted its stake in shares of Golub Capital BDC by 10.8% during the 1st quarter. Texas Yale Capital Corp. now owns 173,139 shares of the investment management company's stock worth $2,621,000 after purchasing an additional 16,933 shares during the last quarter. Allen Investment Management LLC lifted its stake in shares of Golub Capital BDC by 11.9% during the 1st quarter. Allen Investment Management LLC now owns 4,135,726 shares of the investment management company's stock worth $62,615,000 after purchasing an additional 441,050 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Golub Capital BDC by 30.9% during the 1st quarter. Baillie Gifford & Co. now owns 548,319 shares of the investment management company's stock worth $8,302,000 after purchasing an additional 129,461 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Golub Capital BDC by 18.9% during the 1st quarter. Cetera Investment Advisers now owns 111,756 shares of the investment management company's stock worth $1,692,000 after purchasing an additional 17,758 shares during the last quarter. 42.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Lawrence E. Golub acquired 6,059,971 shares of Golub Capital BDC stock in a transaction dated Tuesday, May 27th. The stock was purchased at an average cost of $15.13 per share, for a total transaction of $91,687,361.23. Following the completion of the purchase, the chairman directly owned 6,059,971 shares in the company, valued at $91,687,361.23. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GBDC shares. Bank of America decreased their price target on Golub Capital BDC from $16.50 to $15.50 and set a "buy" rating for the company in a research note on Monday, May 12th. Wells Fargo & Company decreased their price target on Golub Capital BDC from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded Golub Capital BDC from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th.

Golub Capital BDC Stock Up 0.6%

Golub Capital BDC stock traded up $0.09 during midday trading on Tuesday, reaching $14.88. The company's stock had a trading volume of 211,748 shares, compared to its average volume of 1,432,222. The stock's 50-day simple moving average is $14.92 and its 200-day simple moving average is $14.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.37 and a quick ratio of 2.37. 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 capitalization of $3.96 billion, a P/E ratio of 10.48 and a beta of 0.51.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The investment management company reported $0.39 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $215.47 million. During the same period last year, the business posted $0.39 earnings per share. On average, sell-side analysts expect that Golub Capital BDC, Inc. will post 1.6 EPS for the current year.

Golub Capital BDC Announces Dividend

The company 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 10.5%. The ex-dividend date is Monday, September 15th. Golub Capital BDC's dividend payout ratio (DPR) is presently 109.86%.

About Golub Capital BDC

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.