Mackenzie Financial Corp Buys New Position in BARINGS BDC, INC. (NYSE:BBDC)

Key Points

• Mackenzie Financial Corp has made a new investment in BARINGS BDC, acquiring 56,450 shares valued at approximately $539,000, representing a 0.05% ownership stake in the company.
• Analysts have modified their price targets for BARINGS BDC, with Bank of America lowering its target from $11.00 to $10.00 while maintaining a "buy" rating, and Wells Fargo raising its target from $8.50 to $9.50 and upgrading the stock to "overweight."
• BARINGS BDC recently announced a quarterly dividend of $0.26 per share, yielding approximately 10.9%, with the ex-dividend date set for September 3rd.

Mackenzie Financial Corp acquired a new position in shares of BARINGS BDC, INC. (NYSE:BBDC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,450 shares of the company's stock, valued at approximately $539,000. Mackenzie Financial Corp owned 0.05% of BARINGS BDC as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BBDC. Cetera Investment Advisers raised its stake in BARINGS BDC by 1.3% during the fourth quarter. Cetera Investment Advisers now owns 74,839 shares of the company's stock worth $716,000 after acquiring an additional 993 shares in the last quarter. Wedbush Securities Inc. raised its stake in BARINGS BDC by 5.1% during the fourth quarter. Wedbush Securities Inc. now owns 31,471 shares of the company's stock worth $301,000 after acquiring an additional 1,530 shares in the last quarter. Armor Investment Advisors LLC raised its stake in BARINGS BDC by 11.6% during the first quarter. Armor Investment Advisors LLC now owns 16,300 shares of the company's stock worth $156,000 after acquiring an additional 1,700 shares in the last quarter. Confluence Investment Management LLC raised its stake in BARINGS BDC by 0.4% during the first quarter. Confluence Investment Management LLC now owns 519,779 shares of the company's stock worth $4,959,000 after acquiring an additional 2,026 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in BARINGS BDC by 15.1% during the fourth quarter. ProShare Advisors LLC now owns 17,809 shares of the company's stock worth $170,000 after acquiring an additional 2,333 shares in the last quarter. Institutional investors own 44.09% of the company's stock.

Insider Transactions at BARINGS BDC

In other news, President Matthew Freund purchased 3,522 shares of BARINGS BDC stock in a transaction dated Monday, May 19th. The shares were bought at an average cost of $9.07 per share, for a total transaction of $31,944.54. Following the completion of the acquisition, the president owned 20,002 shares in the company, valued at approximately $181,418.14. This trade represents a 21.37% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen R. Byers purchased 8,700 shares of BARINGS BDC stock in a transaction dated Friday, June 6th. The shares were purchased at an average price of $8.89 per share, for a total transaction of $77,343.00. Following the completion of the acquisition, the director owned 59,734 shares of the company's stock, valued at approximately $531,035.26. The trade was a 17.05% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 49,997 shares of company stock valued at $452,844. 0.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BBDC has been the subject of several research analyst reports. Bank of America lowered their target price on BARINGS BDC from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Wells Fargo & Company raised BARINGS BDC from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $8.50 to $9.50 in a research note on Wednesday, May 28th.

BARINGS BDC Trading Up 0.5%

Shares of NYSE:BBDC traded up $0.05 during midday trading on Tuesday, hitting $9.66. 170,917 shares of the stock were exchanged, compared to its average volume of 480,216. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.07 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.09 and a current ratio of 0.09. The business's 50-day moving average price is $9.26 and its 200 day moving average price is $9.33. BARINGS BDC, INC. has a 12 month low of $7.66 and a 12 month high of $10.85.

BARINGS BDC (NYSE:BBDC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The company had revenue of $74.40 million for the quarter, compared to analysts' expectations of $66.41 million. BARINGS BDC had a return on equity of 9.76% and a net margin of 35.67%. During the same period in the previous year, the business posted $0.40 earnings per share. Analysts predict that BARINGS BDC, INC. will post 1.13 earnings per share for the current year.

BARINGS BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Wednesday, September 3rd. BARINGS BDC's payout ratio is 108.33%.

BARINGS BDC Profile

Barings BDC, Inc is a publicly traded, externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. It seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries.