Deerfield Management Company L.P. Series C Raises Stock Holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC)

Deerfield Management Company L.P. Series C raised its holdings in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC) by 101.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,056 shares of the investment management company’s stock after purchasing an additional 33,756 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Golub Capital BDC were worth $1,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Waterloo Capital L.P. acquired a new stake in shares of Golub Capital BDC during the fourth quarter worth approximately $1,304,000. SG Americas Securities LLC bought a new position in shares of Golub Capital BDC during the first quarter worth about $878,000. Baillie Gifford & Co. grew its stake in Golub Capital BDC by 37.5% in the first quarter. Baillie Gifford & Co. now owns 307,486 shares of the investment management company’s stock worth $5,113,000 after purchasing an additional 83,787 shares in the last quarter. Abundance Wealth Counselors increased its holdings in Golub Capital BDC by 289.2% in the second quarter. Abundance Wealth Counselors now owns 187,345 shares of the investment management company’s stock valued at $2,943,000 after buying an additional 139,212 shares during the last quarter. Finally, TCW Group Inc. raised its position in shares of Golub Capital BDC by 63.0% during the 2nd quarter. TCW Group Inc. now owns 430,702 shares of the investment management company’s stock valued at $6,766,000 after acquiring an additional 166,480 shares in the last quarter. 42.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and set a $17.00 target price on shares of Golub Capital BDC in a report on Wednesday, August 7th. StockNews.com upgraded shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Keefe, Bruyette & Woods dropped their price objective on Golub Capital BDC from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company dropped their target price on shares of Golub Capital BDC from $15.50 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.40.

Golub Capital BDC Stock Performance

Shares of GBDC stock opened at $14.78 on Thursday. The stock’s fifty day simple moving average is $14.93 and its 200-day simple moving average is $15.80. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 7.28 and a beta of 0.53. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 1.06. Golub Capital BDC, Inc. has a 1-year low of $13.95 and a 1-year high of $17.72.

Golub Capital BDC (NASDAQ:GBDC) last announced its quarterly earnings data on Monday, August 5th. The investment management company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Golub Capital BDC had a net margin of 42.14% and a return on equity of 11.99%. The company had revenue of $171.27 million for the quarter, compared to analysts’ expectations of $205.24 million. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, sell-side analysts predict that Golub Capital BDC, Inc. will post 1.92 earnings per share for the current fiscal year.

Golub Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.56 annualized dividend and a dividend yield of 10.55%. Golub Capital BDC’s dividend payout ratio is 76.85%.

Insider Activity at Golub Capital BDC

In other news, Director Anita J. Rival bought 26,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $14.40 per share, with a total value of $374,400.00. Following the transaction, the director now directly owns 95,000 shares in the company, valued at approximately $1,368,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Lawrence E. Golub acquired 20,000 shares of Golub Capital BDC stock in a transaction dated Thursday, September 5th. The stock was acquired at an average cost of $14.91 per share, for a total transaction of $298,200.00. Following the completion of the purchase, the chairman now owns 1,998,880 shares of the company’s stock, valued at $29,803,300.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anita J. Rival acquired 26,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $14.40 per share, with a total value of $374,400.00. Following the completion of the acquisition, the director now owns 95,000 shares in the company, valued at approximately $1,368,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 146,000 shares of company stock valued at $2,159,400. Insiders own 2.70% of the company’s stock.

About Golub Capital BDC

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.