Steel Grove Capital Advisors LLC Reduces Stake in Golub Capital BDC, Inc. $GBDC

Key Points

• Steel Grove Capital Advisors cut its stake in Golub Capital BDC by 93.8% in the fourth quarter, selling 156,325 shares and leaving it with 10,415 shares valued at about $141,000.
• Golub Capital BDC reported quarterly EPS of $0.34, missing analyst estimates of $0.36, while revenue also came in well below expectations. The stock was trading near $13.08, close to its 50-day and 200-day averages.
• The company declared a quarterly dividend of $0.33, implying a high annualized yield of about 10.1%. Analysts currently rate the stock a Moderate Buy with a consensus price target of $14.00.

Steel Grove Capital Advisors LLC lowered its position in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 93.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,415 shares of the investment management company's stock after selling 156,325 shares during the period. Steel Grove Capital Advisors LLC's holdings in Golub Capital BDC were worth $141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Truist Financial Corp boosted its position in Golub Capital BDC by 5.6% in the third quarter. Truist Financial Corp now owns 19,603 shares of the investment management company's stock valued at $268,000 after buying an additional 1,035 shares during the last quarter. Keel Point LLC boosted its position in Golub Capital BDC by 2.7% in the 2nd 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. Beverly Hills Private Wealth LLC boosted its position in Golub Capital BDC by 6.2% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 20,516 shares of the investment management company's stock worth $281,000 after purchasing an additional 1,200 shares in the last quarter. Mackenzie Financial Corp boosted its position in Golub Capital BDC by 3.8% in the 3rd quarter. Mackenzie Financial Corp now owns 42,767 shares of the investment management company's stock worth $585,000 after purchasing an additional 1,557 shares in the last quarter. Finally, Family Wealth Partners LLC boosted its position in Golub Capital BDC by 3.2% in the 4th quarter. Family Wealth Partners LLC now owns 54,554 shares of the investment management company's stock worth $740,000 after purchasing an additional 1,688 shares in the last quarter. Hedge funds and other institutional investors own 42.38% of the company's stock.

Golub Capital BDC Trading Down 0.1%

Shares of NASDAQ:GBDC opened at $13.08 on Thursday. The business's 50 day moving average price is $12.96 and its 200-day moving average price is $13.18. 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 firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 16.99 and a beta of 0.41. Golub Capital BDC, Inc. has a 1 year low of $11.77 and a 1 year high of $15.63.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The firm 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 quarter in the previous year, the business posted $0.30 EPS. On average, equities research analysts forecast 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 Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a $0.33 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.32 dividend on an annualized basis and a yield of 10.1%. Golub Capital BDC's dividend payout ratio (DPR) is presently 171.43%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GBDC. Oppenheimer restated an "outperform" rating and set a $14.00 target price on shares of Golub Capital BDC in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Golub Capital BDC in a report on Friday, March 27th. Royal Bank Of Canada reduced 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. Wells Fargo & Company decreased their target price on Golub Capital BDC from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Friday, February 6th. Finally, Keefe, Bruyette & Woods decreased their target price on Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, February 6th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

Golub Capital BDC 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.

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