Osbon Capital Management LLC Makes New Investment in Golub Capital BDC, Inc. $GBDC

Key Points

• Osbon Capital Management acquired 111,755 shares of Golub Capital BDC worth approximately $1.44 million, making GBDC about 1.1% of its portfolio. Institutional investors collectively own 42.38% of the company.
• Director Lawrence E. Golub sold 1.68 million shares for approximately $21.9 million. Company insiders now own 1.40% of outstanding shares.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $13.90 price target. GBDC also reported quarterly EPS of $0.34, slightly above estimates, and declared a $0.33 quarterly dividend, implying a 10.0% annualized yield.

Osbon Capital Management LLC acquired a new stake in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 111,755 shares of the investment management company's stock, valued at approximately $1,439,000. Golub Capital BDC makes up about 1.1% of Osbon Capital Management LLC's portfolio, making the stock its 13th biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP purchased a new position in shares of Golub Capital BDC in the 2nd quarter valued at approximately $25,000. Burk Holdings LLC purchased a new stake in Golub Capital BDC in the second quarter worth $30,000. Main Street Group LTD bought a new position in Golub Capital BDC in the first quarter worth $47,000. Fifth Third Bancorp bought a new position in Golub Capital BDC in the first quarter worth $68,000. Finally, Advisory Services Network LLC purchased a new position in Golub Capital BDC during the third quarter valued at $77,000. Hedge funds and other institutional investors own 42.38% of the company's stock.

Insider Buying and Selling

In other Golub Capital BDC news, Director Lawrence E. Golub sold 1,676,387 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were 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 link. Company insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Royal Bank Of Canada dropped 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 report on Thursday, May 7th. Zacks Research upgraded shares of Golub Capital BDC from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods lowered their price target on shares of 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 shares of Golub Capital BDC from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Oppenheimer restated an "outperform" rating and issued a $14.00 price objective on shares of Golub Capital BDC in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $13.90.

Golub Capital BDC Price Performance

Shares of NASDAQ:GBDC opened at $13.20 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.22. The stock has a fifty day simple moving average of $12.89 and a two-hundred day simple moving average of $12.82. Golub Capital BDC, Inc. has a 12-month low of $11.77 and a 12-month high of $14.93. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 20.31 and a beta of 0.39.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last released its earnings results 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. Golub Capital BDC had a return on equity of 9.91% and a net margin of 21.45%.The firm had revenue of $98.53 million for the quarter, compared to analysts' expectations of $189.91 million. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, research analysts anticipate that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current fiscal year.

Golub Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 10.0%. The ex-dividend date of this dividend is Monday, September 14th. Golub Capital BDC's dividend payout ratio 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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