Tudor Investment Corp ET AL Lowers Stake in Barings Bdc, Inc. $BBDC

Key Points

• Tudor Investment Corp trimmed its stake in Barings BDC (NYSE: BBDC) by 92.3% in Q3, selling 373,945 shares and leaving 31,159 shares worth about $273,000.
• Barings BDC pays a quarterly dividend of $0.26 (annualized $1.04), implying a 12.4% yield with a payout ratio of 107.22%, signaling a high yield that may not be fully covered by earnings.
• The company reported Q results of $0.27 EPS (beat by $0.01) but revenue missed estimates, and ratings are mixed — Weiss Ratings downgraded to a "hold" while the consensus is a "Moderate Buy" with a $9.67 target.

Tudor Investment Corp ET AL trimmed its holdings in Barings Bdc, Inc. (NYSE:BBDC - Free Report) by 92.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 31,159 shares of the company's stock after selling 373,945 shares during the period. Tudor Investment Corp ET AL's holdings in Barings Bdc were worth $273,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BBDC. State of Alaska Department of Revenue purchased a new stake in Barings Bdc during the 3rd quarter valued at approximately $38,000. Mather Group LLC. purchased a new stake in Barings Bdc in the 3rd quarter valued at approximately $44,000. BNP Paribas Financial Markets acquired a new position in Barings Bdc during the 3rd quarter worth approximately $44,000. Aquatic Capital Management LLC acquired a new position in Barings Bdc during the 3rd quarter worth approximately $64,000. Finally, Ameriflex Group Inc. raised its stake in shares of Barings Bdc by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 8,182 shares of the company's stock worth $72,000 after buying an additional 4,091 shares in the last quarter. Institutional investors and hedge funds own 44.09% of the company's stock.

Barings Bdc Trading Up 2.8%

Shares of BBDC opened at $8.39 on Friday. Barings Bdc, Inc. has a twelve month low of $7.66 and a twelve month high of $9.92. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $878.52 million, a P/E ratio of 8.65 and a beta of 0.58. The firm's 50-day moving average is $8.65 and its two-hundred day moving average is $8.84.

Barings Bdc (NYSE:BBDC - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. Barings Bdc had a net margin of 36.50% and a return on equity of 10.05%. The company had revenue of $65.28 million during the quarter, compared to the consensus estimate of $67.66 million. During the same period last year, the firm earned $0.28 EPS. On average, research analysts predict that Barings Bdc, Inc. will post 1.13 earnings per share for the current fiscal year.

Barings Bdc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, March 4th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 12.4%. The ex-dividend date was Wednesday, March 4th. Barings Bdc's dividend payout ratio is presently 107.22%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Barings Bdc from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, March 5th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $9.67.

Barings Bdc Company Profile

Barings BDC Inc NYSE: BBDC is a closed-end, externally managed business development company that provides flexible financing solutions to middle-market companies. As an investment vehicle organized under the Investment Company Act of 1940, BBDC seeks to generate both current income and capital appreciation by investing primarily in senior secured loans, second lien loans, mezzanine debt and equity co-investments. The company targets established businesses across a diverse range of industries, including healthcare, industrials, consumer products and business services.

The company is sponsored and managed by Barings LLC, a global investment manager and subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual).

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