SCS Capital Management LLC Sells 83,840 Shares of Golub Capital BDC, Inc. $GBDC

Key Points

• SCS Capital Management LLC reduced its stake in Golub Capital BDC by 24.1% in the fourth quarter, selling 83,840 shares and leaving it with 264,231 shares worth about $3.6 million.
• Analyst sentiment is mixed but still generally positive: several firms cut price targets or downgraded the stock, yet the consensus remains a "Moderate Buy" with an average price target of $14.00.
• Golub Capital BDC reported weaker-than-expected quarterly results and announced a quarterly dividend of $0.33 per share, implying a high annualized yield of 9.9%.

SCS Capital Management LLC trimmed its position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 24.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,231 shares of the investment management company's stock after selling 83,840 shares during the period. SCS Capital Management LLC owned approximately 0.10% of Golub Capital BDC worth $3,586,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GBDC. Royal Bank of Canada grew its stake in shares of Golub Capital BDC by 41.4% in the 1st quarter. Royal Bank of Canada now owns 131,544 shares of the investment management company's stock valued at $1,991,000 after purchasing an additional 38,534 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Golub Capital BDC by 19.7% in the 1st quarter. NewEdge Advisors LLC now owns 43,534 shares of the investment management company's stock valued at $659,000 after purchasing an additional 7,178 shares during the period. Empowered Funds LLC lifted its stake in shares of Golub Capital BDC by 140.0% in the 1st quarter. Empowered Funds LLC now owns 27,411 shares of the investment management company's stock valued at $415,000 after purchasing an additional 15,988 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Golub Capital BDC in the 1st quarter valued at $6,491,000. Finally, Focus Partners Wealth lifted its stake in shares of 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 purchasing an additional 6,658 shares during the period. 42.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GBDC. Wall Street Zen downgraded Golub Capital BDC from a "hold" rating to a "sell" rating in a research note on Sunday, April 19th. Royal Bank Of Canada dropped their price objective on Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Thursday, May 7th. Keefe, Bruyette & Woods lowered their target price on Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Friday, February 6th. Zacks Research cut Golub Capital BDC from a "hold" rating to a "strong sell" rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company lowered their target price on Golub Capital BDC from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Golub Capital BDC presently has a consensus rating of "Moderate Buy" and an average price target of $14.00.

Golub Capital BDC Trading Up 1.5%

Shares of NASDAQ:GBDC opened at $13.36 on Tuesday. Golub Capital BDC, Inc. has a 12-month low of $11.77 and a 12-month high of $15.63. The stock has a market cap of $3.48 billion, a PE ratio of 17.35 and a beta of 0.39. The business has a 50 day moving average of $13.00 and a 200-day moving average of $13.16. 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 issued its quarterly earnings data on Monday, May 4th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Golub Capital BDC had a return on equity of 10.20% and a net margin of 24.64%.The firm had revenue of ($5.28) million for the quarter, compared to the consensus estimate of $201.71 million. During the same quarter in the prior year, the firm earned $0.30 EPS. As a group, equities research analysts forecast that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current year.

Golub Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date is Monday, June 15th. Golub Capital BDC's payout ratio is presently 171.43%.

Golub Capital BDC Company Profile

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.

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.