Golub Capital BDC (NASDAQ:GBDC) Price Target Cut to $15.50

Golub Capital BDC (NASDAQ:GBDC) had its target price lowered by Wells Fargo & Company from $17.00 to $15.50 in a report published on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the investment management company’s stock.

A number of other brokerages have also recently commented on GBDC. Raymond James cut Golub Capital BDC from an outperform rating to a market perform rating in a report on Wednesday, May 8th. StockNews.com lowered Golub Capital BDC from a buy rating to a hold rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $16.40.

Golub Capital BDC Price Performance

Shares of Golub Capital BDC stock opened at $15.44 on Friday. Golub Capital BDC has a one year low of $13.78 and a one year high of $17.72. The stock’s fifty day moving average is $15.85 and its 200 day moving average is $16.01. The stock has a market cap of $2.65 billion, a P/E ratio of 7.61 and a beta of 0.52. The company has a debt-to-equity ratio of 1.26, a quick ratio of 6.29 and a current ratio of 6.29.

Golub Capital BDC (NASDAQ:GBDC) last announced its earnings results on Monday, May 6th. The investment management company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Golub Capital BDC had a return on equity of 13.03% and a net margin of 53.05%. The company had revenue of $164.23 million during the quarter, compared to the consensus estimate of $163.61 million. Sell-side analysts anticipate that Golub Capital BDC will post 1.95 earnings per share for the current year.

Golub Capital BDC Announces Dividend

The company also recently disclosed a None dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, August 16th. Golub Capital BDC’s payout ratio is 76.85%.

Insider Activity

In other news, CEO David Golub acquired 450,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average price of $16.03 per share, for a total transaction of $7,213,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,718,880 shares in the company, valued at approximately $27,553,646.40. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, CEO David Golub purchased 450,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average price of $16.03 per share, for a total transaction of $7,213,500.00. Following the completion of the transaction, the chief executive officer now owns 1,718,880 shares in the company, valued at approximately $27,553,646.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Lawrence E. Golub purchased 88,748 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average price of $16.03 per share, with a total value of $1,422,630.44. Following the transaction, the chairman now owns 1,357,628 shares of the company’s stock, valued at approximately $21,762,776.84. The disclosure for this purchase can be found here. Insiders bought a total of 601,015 shares of company stock worth $9,636,138 over the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Trust Co. NA lifted its stake in Golub Capital BDC by 1,005.0% in the fourth quarter. Private Trust Co. NA now owns 2,199 shares of the investment management company’s stock worth $33,000 after purchasing an additional 2,000 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Golub Capital BDC in the first quarter worth about $38,000. Cove Street Capital LLC bought a new stake in Golub Capital BDC in the second quarter worth about $39,000. Nomura Asset Management Co. Ltd. lifted its stake in Golub Capital BDC by 77.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,463 shares of the investment management company’s stock worth $52,000 after purchasing an additional 1,508 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Golub Capital BDC by 39.1% in the first quarter. BNP Paribas Financial Markets now owns 6,898 shares of the investment management company’s stock worth $115,000 after purchasing an additional 1,940 shares during the last quarter. Hedge funds and other institutional investors own 42.38% of the company’s stock.

Golub Capital BDC Company 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.