Next Capital Management LLC Grows Holdings in Golub Capital BDC, Inc. $GBDC

Key Points

• Next Capital Management boosted its stake in Golub Capital BDC by 132.3% in the first quarter, making GBDC its 13th-largest holding and about 2.2% of its portfolio.
• Institutional ownership remains significant, with several other funds also increasing positions and 42.38% of GBDC shares now held by hedge funds and other institutional investors.
• Golub Capital BDC shares were down 2.0% as the company posted Q1 EPS of $0.34, missing estimates, while analysts currently rate the stock a Moderate Buy with an average price target of $14.00.

Next Capital Management LLC increased its holdings in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 132.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 567,205 shares of the investment management company's stock after purchasing an additional 322,992 shares during the period. Golub Capital BDC accounts for 2.2% of Next Capital Management LLC's investment portfolio, making the stock its 13th largest holding. Next Capital Management LLC owned 0.22% of Golub Capital BDC worth $7,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GBDC. Royal Bank of Canada raised its holdings in shares of Golub Capital BDC by 41.4% in the first quarter. Royal Bank of Canada now owns 131,544 shares of the investment management company's stock valued at $1,991,000 after buying an additional 38,534 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Golub Capital BDC by 19.7% during 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 grew its holdings in shares of Golub Capital BDC by 140.0% during 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 acquired a new position in Golub Capital BDC in the 1st quarter valued at about $6,491,000. Finally, Focus Partners Wealth increased its position in Golub Capital BDC by 24.9% in the 1st quarter. Focus Partners Wealth now owns 33,355 shares of the investment management company's stock valued at $505,000 after acquiring an additional 6,658 shares during the period. 42.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GBDC. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Golub Capital BDC in a research report on Wednesday, June 24th. Zacks Research raised Golub Capital BDC from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen cut Golub Capital BDC from a "hold" rating to a "sell" rating in a research note on Sunday, April 19th. Oppenheimer restated an "outperform" rating and set a $14.00 price target on shares of Golub Capital BDC in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada decreased their price target on 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 investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.00.

Golub Capital BDC Trading Down 2.0%

NASDAQ GBDC opened at $13.06 on Friday. The stock has a market capitalization of $3.40 billion, a P/E ratio of 16.96 and a beta of 0.39. Golub Capital BDC, Inc. has a 52-week low of $11.77 and a 52-week high of $15.63. The firm has a 50-day moving average price of $12.91 and a 200 day moving average price of $12.94. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.25.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The investment management company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Golub Capital BDC had a net margin of 24.64% and a return on equity of 10.20%. The firm had revenue of ($5.28) million during the quarter, compared to analyst estimates of $201.71 million. During the same quarter in the previous year, the business earned $0.30 EPS. Equities research analysts expect that Golub Capital BDC, Inc. will post 1.36 EPS for the current year.

Golub Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $0.33 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.1%. Golub Capital BDC's payout ratio is 171.43%.

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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