Texas Yale Capital Corp. Raises Stake in Golub Capital BDC, Inc. (NASDAQ:GBDC)

Key Points

• Texas Yale Capital Corp. increased its stake in Golub Capital BDC by 10.8%, owning a total of 173,139 shares worth approximately $2.6 million at the end of the quarter.
• Chairman Lawrence E. Golub purchased a significant number of shares—over 6 million—valued at approximately $91.7 million, resulting in a substantial increase in his ownership stake.
• Golub Capital BDC announced a quarterly dividend of $0.39 per share, yielding an annualized dividend of 10.16%, despite a high dividend payout ratio of 138.05%.

Texas Yale Capital Corp. increased its stake in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 10.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 173,139 shares of the investment management company's stock after buying an additional 16,933 shares during the quarter. Texas Yale Capital Corp. owned 0.07% of Golub Capital BDC worth $2,621,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. VSM Wealth Advisory LLC boosted its holdings in shares of Golub Capital BDC by 102.0% in the 1st quarter. VSM Wealth Advisory LLC now owns 2,565 shares of the investment management company's stock worth $39,000 after buying an additional 1,295 shares during the last quarter. Future Financial Wealth Managment LLC boosted its holdings in shares of Golub Capital BDC by 130.0% in the 1st quarter. Future Financial Wealth Managment LLC now owns 2,990 shares of the investment management company's stock worth $45,000 after buying an additional 1,690 shares during the last quarter. Optiver Holding B.V. boosted its holdings in shares of Golub Capital BDC by 28.7% in the 4th quarter. Optiver Holding B.V. now owns 3,087 shares of the investment management company's stock worth $47,000 after buying an additional 688 shares during the last quarter. Hurley Capital LLC purchased a new position in shares of Golub Capital BDC in the 4th quarter worth about $50,000. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Golub Capital BDC by 31.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,613 shares of the investment management company's stock worth $55,000 after buying an additional 868 shares during the last quarter. 42.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Golub Capital BDC

In related news, Chairman Lawrence E. Golub purchased 6,059,971 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average cost of $15.13 per share, for a total transaction of $91,687,361.23. Following the completion of the transaction, the chairman directly owned 6,059,971 shares in the company, valued at approximately $91,687,361.23. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GBDC has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Golub Capital BDC from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their price objective on shares of Golub Capital BDC from $16.50 to $15.50 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on shares of Golub Capital BDC from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Finally, Bank of America dropped their price objective on shares of Golub Capital BDC from $16.50 to $15.50 and set a "buy" rating on the stock in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.50.

Golub Capital BDC Price Performance

NASDAQ GBDC opened at $15.36 on Monday. The company has a market cap of $4.09 billion, a PE ratio of 13.59 and a beta of 0.51. Golub Capital BDC, Inc. has a 52 week low of $12.68 and a 52 week high of $16.00. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 1.19. The firm's 50-day simple moving average is $14.96 and its two-hundred day simple moving average is $14.94.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The investment management company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). Golub Capital BDC had a net margin of 35.50% and a return on equity of 10.59%. The company had revenue of $211.10 million for the quarter, compared to the consensus estimate of $223.89 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. Research analysts predict that Golub Capital BDC, Inc. will post 1.6 earnings per share for the current year.

Golub Capital BDC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 10.16%. The ex-dividend date of this dividend was Friday, June 13th. Golub Capital BDC's dividend payout ratio is presently 138.05%.

Golub Capital BDC Profile

Golub Capital BDC, Inc (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors.

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