Van ECK Associates Corp Has $60.67 Million Holdings in Golub Capital BDC, Inc. $GBDC

Key Points

• VanEck increased its Golub Capital BDC stake by 11% in the second quarter, holding 4.71 million shares worth approximately $60.7 million. Institutional investors and hedge funds collectively own 42.38% of GBDC.
• Golub Capital BDC reported quarterly EPS of $0.34, exceeding estimates of $0.33, while revenue came in at $98.53 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $13.90.
• The company declared a quarterly dividend of $0.33 per share, equivalent to $1.32 annually and a 10.1% yield. However, its payout ratio is high at 203.08%, and director Lawrence E. Golub sold $21.9 million of shares.

Van ECK Associates Corp grew its position in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 11.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,710,275 shares of the investment management company's stock after buying an additional 466,249 shares during the quarter. Van ECK Associates Corp owned approximately 1.81% of Golub Capital BDC worth $60,668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Comprehensive Money Management Services LLC purchased a new stake in shares of Golub Capital BDC in the 2nd quarter valued at approximately $170,000. Empowered Funds LLC acquired a new stake in Golub Capital BDC during the 2nd quarter valued at $381,000. Coastal Bridge Advisors LLC acquired a new stake in Golub Capital BDC during the 2nd quarter valued at $15,368,000. Almitas Capital LLC purchased a new stake in shares of Golub Capital BDC in the second quarter valued at $258,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Golub Capital BDC in the second quarter valued at $50,833,000. 42.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Golub Capital BDC

In other news, Director Lawrence E. Golub sold 1,676,387 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $13.06, for a total transaction of $21,893,614.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GBDC. Zacks Research upgraded Golub Capital BDC from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Royal Bank Of Canada reduced their price objective on Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, May 7th. Keefe, Bruyette & Woods reduced their price objective on Golub Capital BDC from $14.00 to $13.50 and set an "outperform" rating for the company in a research note on Wednesday, August 5th. Oppenheimer restated an "outperform" rating and set a $14.00 price objective on shares of Golub Capital BDC in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Golub Capital BDC in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Golub Capital BDC presently has an average rating of "Moderate Buy" and an average target price of $13.90.

Golub Capital BDC Trading Down 0.3%

Shares of NASDAQ:GBDC opened at $13.03 on Friday. The firm has a fifty day moving average of $12.95 and a two-hundred day moving average of $12.84. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.22. Golub Capital BDC, Inc. has a 12-month low of $11.77 and a 12-month high of $14.93. The firm has a market capitalization of $3.38 billion, a P/E ratio of 20.05 and a beta of 0.39.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The investment management company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $98.53 million for the quarter, compared to the consensus estimate of $189.91 million. Golub Capital BDC had a net margin of 21.45% and a return on equity of 9.91%. During the same period in the prior year, the business posted $0.39 earnings per share. On average, equities analysts expect that Golub Capital BDC, Inc. will post 1.36 EPS for the current fiscal year.

Golub Capital BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 10.1%. The ex-dividend date of this dividend is Monday, September 14th. Golub Capital BDC's dividend payout ratio is presently 203.08%.

Golub Capital BDC Company 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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