Strs Ohio Boosts Position in Golub Capital BDC, Inc. $GBDC

Key Points

• Strs Ohio increased its stake in Golub Capital BDC by 2.6% in the first quarter, adding 435,772 shares to bring its total to 17.14 million shares. The position was worth about $217 million and represented roughly 6.51% of the company.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $14.00. Recent actions included multiple downgrades, though RBC and Oppenheimer both kept outperform ratings.
• GBDC reported weaker-than-expected quarterly results, posting EPS of $0.34 versus the $0.36 estimate and missing revenue expectations. The stock traded around $12.99, and the company also declared a $0.33 quarterly dividend, implying a 10.2% annualized yield.

Strs Ohio increased its position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,140,532 shares of the investment management company's stock after acquiring an additional 435,772 shares during the quarter. Golub Capital BDC makes up about 0.9% of Strs Ohio's portfolio, making the stock its 15th biggest holding. Strs Ohio owned approximately 6.51% of Golub Capital BDC worth $216,999,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Comprehensive Money Management Services LLC boosted its holdings in Golub Capital BDC by 15.2% in the 1st quarter. Comprehensive Money Management Services LLC now owns 15,125 shares of the investment management company's stock valued at $191,000 after purchasing an additional 2,000 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ increased its holdings in shares of Golub Capital BDC by 21.3% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 124,292 shares of the investment management company's stock worth $1,574,000 after buying an additional 21,802 shares during the last quarter. waypoint wealth counsel purchased a new stake in shares of Golub Capital BDC during the 1st quarter valued at approximately $326,000. Tred Avon Family Wealth LLC raised its position in shares of Golub Capital BDC by 1.5% during the 1st quarter. Tred Avon Family Wealth LLC now owns 247,203 shares of the investment management company's stock valued at $3,130,000 after buying an additional 3,749 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Golub Capital BDC by 38.4% in the first quarter. Janney Montgomery Scott LLC now owns 122,693 shares of the investment management company's stock valued at $1,553,000 after acquiring an additional 34,049 shares during the last quarter. Hedge funds and other institutional investors own 42.38% of the company's stock.

Wall Street Analyst Weigh In

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

Golub Capital BDC Stock Up 1.2%

Golub Capital BDC stock opened at $12.99 on Friday. The company has a market capitalization of $3.38 billion, a PE ratio of 16.87 and a beta of 0.39. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.20 and a current ratio of 2.20. Golub Capital BDC, Inc. has a fifty-two week low of $11.77 and a fifty-two week high of $15.63. The firm has a 50 day moving average price of $12.99 and a 200 day moving average price of $12.97.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last released 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). 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 analysts' expectations of $201.71 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. Research analysts expect that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current year.

Golub Capital BDC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend was Monday, June 15th. Golub Capital BDC's payout ratio is currently 171.43%.

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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