Barings BDC, Inc. (NYSE:BBDC) is a business development company specializing in private equity and mezzanine investments. It focuses on leveraged buyouts, management buyouts, ESOPs, change of control transactions, acquisition financings, growth financing, and recapitalizations in lower middle market, mature, and later stage companies. The firm prefers to make investments in many business sectors including manufacturing, distribution, transportation, energy, communications, health services, restaurants, media, and others. It primarily invests in companies located throughout the United States, with an emphasis on the Southeast and Midatlantic. The firm makes equity investments between $1 million and $25 million and debt investments between $5 million and $30 million per transaction, in companies having annual revenues between $20 million and $200 million and EBITDA between $3 million and $35 million and can also co-invest. It typically makes investments between $5 million and $35 million. It primarily invests in senior subordinated debt securities secured by second lien security interests in portfolio company assets, coupled with equity interests. The firm also invests in senior debt securities secured by first lien security interests in portfolio companies. Triangle Capital Corporation was incorporated on October 10, 2006 and is based in Raleigh, North Carolina.
Industry, Sector and Symbol
Industry Investment advice
Sub-IndustryN/A
SectorFinance
CIKN/A
Phone704-805-7200
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$80.22 million
Profitability
Miscellaneous
EmployeesN/A
Next Earnings Date2/26/2020 (Estimated)
OptionableOptionable
Barings BDC (NYSE:BBDC) Frequently Asked Questions
What is Barings BDC's stock symbol?
Barings BDC trades on the New York Stock Exchange (NYSE) under the ticker symbol "BBDC."
How often does Barings BDC pay dividends? What is the dividend yield for Barings BDC?
Barings BDC declared a quarterly dividend on Tuesday, October 29th. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.15 per share on Wednesday, December 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend is Tuesday, December 10th. This is a boost from Barings BDC's previous quarterly dividend of $0.14. View Barings BDC's Dividend History.
How were Barings BDC's earnings last quarter?
Barings BDC Inc (NYSE:BBDC) posted its quarterly earnings results on Tuesday, October, 29th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $19.30 million for the quarter, compared to the consensus estimate of $20.34 million. Barings BDC had a return on equity of 5.48% and a net margin of 6.67%. View Barings BDC's Earnings History.
When is Barings BDC's next earnings date?
What price target have analysts set for BBDC?
3 equities research analysts have issued 12 month price objectives for Barings BDC's shares. Their forecasts range from $9.61 to $11.00. On average, they anticipate Barings BDC's stock price to reach $10.20 in the next twelve months. This suggests that the stock has a possible downside of 2.5%. View Analyst Price Targets for Barings BDC.
What is the consensus analysts' recommendation for Barings BDC?
3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Barings BDC in the last year. There are currently 1 hold rating and 2 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Barings BDC.
What are Wall Street analysts saying about Barings BDC stock?
Here are some recent quotes from research analysts about Barings BDC stock:
- 1. According to Zacks Investment Research, "Barings BDC, Inc. is an externally managed business development company which primarily makes debt investments in middle market companies. The company is primarily managed by Barings, LLC, a premier global asset manager. Barings BDC Inc., formerly known as TRIANGLE CAPITAL CORPORATION, is based in Charlotte, United States. " (1/7/2020)
- 2. National Securities analysts commented, "▪ Barings posted NII/share of $0.16 for 1Q19, flat with the prior quarter and shy of our estimate of $0.18. Notably, the portfolio was 74% BSL compared with 79% Q/Q. We had expected a more rapid rotation out of BSL and into MM originations.
▪ The company completed a securitization in 2Q19 with class A-1 and A-2 notes totaling $348.3mm using BSL. This is a static securitization and the company was able to attain favorable financing with LIBOR spreads of 102 bps on A-1 and 165 bps on A-2 with a seven-year duration. Barings still has roughly $400mm of BSL outside the securitization that they can rotate over the next year into MM loans. We expect renewed loan market volatility in 3Q19 and 4Q19 to present opportunities to the company, and we wouldn’t be surprised to see more opportunistic BSL purchases. As a reminder, Barings has a large CLO and liquid credit platform that provides the company with a significant advantage in both liquid loan markets and direct lending, as we see it.
▪ In May, Barings also entered into an agreement with the State of South Carolina Retirement System with Barings committing $50mm and their partner committing $500mm of equity. This will be differentiated from a typical BDC JV structure and will be used to invest in both US and European liquid and illiquid credit, structured products, and real estate debt. Barings has over $300 billion under management and expertise across a broad array of investments and is by no means taking a random guess at these different verticals.
▪ The BSL book was marked down $50mm in 4Q18 and recovered about half of that in the 3/31/19 quarter with another $10-$12mm recovered QTD. We expect another NAV/share increase at 6/30/19 and BBDC continues to trade at an unwarranted discount, as we see it. The company’s portfolio is 329 bps over LIBOR in the BSL book and 501 bps over LIBOR on the MM book with 4.9x and 4.5x senior leverage, respectively. We think this is one of the most conservatively structured portfolios in the BDC sector and we believe the market is mispricing the underlying credit risk (or lack thereof) in BBDC.
▪ We are revising our 2019 NII/share estimate to $0.72 from $0.86 and our 2020 NII/share estimate to $0.91 from $0.92. Our downward revision in 2019 is solely due to our expectations for a longer time horizon to rotate out of BSL and more into MM loans." (5/13/2019)
Has Barings BDC been receiving favorable news coverage?
News headlines about BBDC stock have been trending very negative on Friday, according to InfoTrie Sentiment Analysis. The research firm identifies negative and positive media coverage by monitoring more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Barings BDC earned a media sentiment score of -3.6 on InfoTrie's scale. They also gave media coverage about the company a news buzz of 10.0 out of 10, indicating that recent media coverage is extremely likely to have an impact on the company's share price in the immediate future. View News Stories for Barings BDC.
Are investors shorting Barings BDC?
Barings BDC saw a increase in short interest in the month of December. As of December 31st, there was short interest totalling 521,300 shares, an increase of 14.1% from the December 15th total of 456,800 shares. Based on an average trading volume of 104,500 shares, the days-to-cover ratio is presently 5.0 days. Currently, 1.1% of the company's shares are short sold. View Barings BDC's Current Options Chain.
Who are some of Barings BDC's key competitors?
Some companies that are related to Barings BDC include Moelis & Co (MC), AssetMark Financial (AMK), Focus Financial Partners (FOCS), Victory Capital (VCTR), Och-Ziff Capital Management Group (OZM), Sculptor Capital Management (SCU), PJT Partners (PJT), Virtus Investment Partners (VRTS), Brightsphere Investment Group (BSIG), Pzena Investment Management (PZN), Diamond Hill Investment Group (DHIL), Fidus Investment (FDUS), Value Line (VALU), PUYI INC/ADR (PUYI) and Saratoga Investment (SAR).
What other stocks do shareholders of Barings BDC own?
Who are Barings BDC's key executives?
Barings BDC's management team includes the folowing people:
- Mr. Eric J. Lloyd, Pres, Chief Exec. Officer & Interested Director (Age 50)
- Mr. Ian Fowler, Pres (Age 54)
- Mr. Jonathan Gerald Bock CFA, Chief Financial Officer
- Mr. C. Robert Knox Jr., CPA, Controller & Principal Accounting Officer (Age 47)
- Mr. Thomas F. Moses CPA, VP & Treasurer
Who are Barings BDC's major shareholders?
Barings BDC's stock is owned by a number of of retail and institutional investors. Top institutional shareholders include FNY Investment Advisers LLC (0.01%). Company insiders that own Barings BDC stock include Barings Llc, C Robert Jr Knox, Christopher Cary, Eric J Lloyd, Geoff Craddock, John Switzer, Jonathan Bock, Jonathan Landsberg, Paul John Thompson and Thomas F Finke. View Institutional Ownership Trends for Barings BDC.
Which major investors are selling Barings BDC stock?
How do I buy shares of Barings BDC?
Shares of BBDC can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity and Charles Schwab.
What is Barings BDC's stock price today?
One share of BBDC stock can currently be purchased for approximately $10.46.
How big of a company is Barings BDC?
What is Barings BDC's official website?
How can I contact Barings BDC?
Barings BDC's mailing address is 300 SOUTH TRYON STREET SUITE 2500, CHARLOTTE NC, 28202. The company can be reached via phone at 704-805-7200 or via email at investorre[email protected]
MarketBeat Community Rating for Barings BDC (NYSE BBDC)
MarketBeat's community ratings are surveys of what our community members think about Barings BDC and other stocks. Vote "Outperform" if you believe BBDC will outperform the S&P 500 over the long term. Vote "Underperform" if you believe BBDC will underperform the S&P 500 over the long term. You may vote once every thirty days.
