Shikiar Asset Management Inc. Cuts Stock Position in Golub Capital BDC, Inc. $GBDC

Key Points

• Shikiar Asset Management cut its stake in Golub Capital BDC by 32.7% in the first quarter, selling 121,940 shares and leaving it with 251,300 shares worth about $3.18 million.
• Several analysts remain mixed on GBDC, but the overall consensus is still Moderate Buy with a $14.00 price target. Recent calls included downgrades from Wall Street Zen and Zacks, while Oppenheimer and RBC maintained outperform-style views.
• Golub Capital BDC reported Q1 EPS of $0.34, missing estimates, and paid a quarterly dividend of $0.33 per share, equal to a 10.2% annualized yield. The stock was trading at $12.88, near its 50-day and 200-day averages.

Shikiar Asset Management Inc. lessened its position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 32.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 251,300 shares of the investment management company's stock after selling 121,940 shares during the quarter. Shikiar Asset Management Inc. owned about 0.10% of Golub Capital BDC worth $3,181,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Keel Point LLC increased its position in shares of Golub Capital BDC by 2.7% during the second quarter. Keel Point LLC now owns 39,845 shares of the investment management company's stock worth $584,000 after purchasing an additional 1,039 shares in the last quarter. Ironsides Asset Advisors LLC grew its stake in Golub Capital BDC by 7.6% during the 4th quarter. Ironsides Asset Advisors LLC now owns 15,755 shares of the investment management company's stock worth $214,000 after buying an additional 1,113 shares during the last quarter. Cetera Investment Advisers increased its position in Golub Capital BDC by 1.3% during the 4th quarter. Cetera Investment Advisers now owns 106,374 shares of the investment management company's stock valued at $1,443,000 after buying an additional 1,361 shares in the last quarter. Mackenzie Financial Corp raised its stake in Golub Capital BDC by 3.8% in the third quarter. Mackenzie Financial Corp now owns 42,767 shares of the investment management company's stock valued at $585,000 after buying an additional 1,557 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Golub Capital BDC by 15.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 12,017 shares of the investment management company's stock worth $163,000 after acquiring an additional 1,628 shares in the last quarter. 42.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GBDC. Oppenheimer restated an "outperform" rating and set a $14.00 price objective on shares of Golub Capital BDC in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Golub Capital BDC from a "hold" rating to a "sell" rating in a research note on Sunday, April 19th. Royal Bank Of Canada decreased their price target on shares of Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. Zacks Research lowered shares of Golub Capital BDC from a "hold" rating to a "strong sell" rating in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Golub Capital BDC in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Golub Capital BDC has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Golub Capital BDC Stock Up 0.8%

NASDAQ:GBDC opened at $12.88 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.20 and a quick ratio of 2.20. The company's fifty day moving average price is $13.01 and its 200-day moving average price is $12.99. Golub Capital BDC, Inc. has a 1-year low of $11.77 and a 1-year high of $15.63. The firm has a market capitalization of $3.36 billion, a P/E ratio of 16.73 and a beta of 0.39.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The investment management company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of ($5.28) million during the quarter, compared to analysts' expectations of $201.71 million. Golub Capital BDC had a net margin of 24.64% and a return on equity of 10.20%. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, equities research analysts anticipate that Golub Capital BDC, Inc. will post 1.36 EPS for the current year.

Golub Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.32 dividend on an annualized basis and a yield of 10.2%. Golub Capital BDC's payout ratio is presently 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.

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.