Lawrence Golub Sells 1,676,387 Shares of Golub Capital BDC (NASDAQ:GBDC) Stock

Key Points

• Director Lawrence Golub sold 1,676,387 shares of Golub Capital BDC at an average price of $13.06, for total proceeds of approximately $21.9 million.
• Golub Capital BDC reported quarterly EPS of $0.34, slightly above the $0.33 consensus estimate, while revenue of $98.53 million fell well short of analysts’ $189.91 million expectation.
• The company declared a quarterly dividend of $0.33 per share, equivalent to an annualized $1.32 payout and a 10.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $13.90.

Golub Capital BDC, Inc. (NASDAQ:GBDC - Get Free Report) Director Lawrence Golub sold 1,676,387 shares of Golub Capital BDC 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 sale was disclosed in a document filed with the SEC, which is accessible through this link.

Golub Capital BDC Price Performance

Shares of NASDAQ GBDC traded up $0.05 on Tuesday, hitting $13.18. The company's stock had a trading volume of 988,909 shares, compared to its average volume of 1,913,594. The stock has a 50 day moving average of $12.88 and a 200-day moving average of $12.85. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 20.28 and a beta of 0.39. Golub Capital BDC, Inc. has a 12-month low of $11.77 and a 12-month high of $14.93. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.33 and a quick ratio of 1.33.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last issued its quarterly earnings data 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. Golub Capital BDC had a net margin of 21.45% and a return on equity of 9.91%. The business had revenue of $98.53 million during the quarter, compared to analysts' expectations of $189.91 million. During the same period last year, the company posted $0.39 EPS. As a group, research analysts predict that Golub Capital BDC, Inc. will post 1.36 EPS for the current year.

Golub Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.32 annualized dividend and a yield of 10.0%. Golub Capital BDC's dividend payout ratio (DPR) is presently 203.08%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Golub Capital BDC from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reiterated a "hold (c)" rating on shares of Golub Capital BDC in a research report on Wednesday, June 24th. Royal Bank Of Canada cut their target price on shares of 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 decreased their price target on shares of Golub Capital BDC from $14.00 to $13.50 and set an "outperform" rating on the stock in a research note on Wednesday, August 5th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $14.00 price target on shares of Golub Capital BDC in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.90.

Institutional Investors Weigh In On Golub Capital BDC

A number of institutional investors have recently bought and sold shares of the stock. Allworth Financial LP acquired a new position in Golub Capital BDC during the second quarter worth approximately $25,000. Main Street Group LTD acquired a new position in shares of Golub Capital BDC in the 1st quarter valued at $47,000. Fifth Third Bancorp purchased a new stake in shares of Golub Capital BDC during the 1st quarter valued at $68,000. Trust Co. of Vermont acquired a new stake in shares of Golub Capital BDC during the 2nd quarter worth $77,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Golub Capital BDC during the 3rd quarter worth $77,000. 42.38% of the stock is currently owned by hedge funds and other institutional investors.

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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