Deerfield Management Company L.P. Series C Sells 33,051 Shares of Barings BDC, Inc. (NYSE:BBDC)

Deerfield Management Company L.P. Series C reduced its stake in Barings BDC, Inc. (NYSE:BBDC) by 66.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,770 shares of the company’s stock after selling 33,051 shares during the period. Deerfield Management Company L.P. Series C’s holdings in Barings BDC were worth $163,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Confluence Investment Management LLC acquired a new stake in Barings BDC in the first quarter worth $4,666,000. Van ECK Associates Corp increased its position in shares of Barings BDC by 17.7% in the 2nd quarter. Van ECK Associates Corp now owns 2,138,487 shares of the company’s stock valued at $20,808,000 after buying an additional 321,638 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Barings BDC by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 297,938 shares of the company’s stock worth $2,899,000 after buying an additional 218,146 shares during the period. Privium Fund Management UK Ltd bought a new position in Barings BDC during the fourth quarter worth about $1,533,000. Finally, Steel Grove Capital Advisors LLC bought a new position in Barings BDC during the first quarter worth about $1,080,000. 44.09% of the stock is owned by institutional investors and hedge funds.

Barings BDC Stock Up 0.3 %

Barings BDC stock opened at $9.86 on Friday. The company has a 50 day moving average of $9.91 and a 200-day moving average of $9.70. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.29. Barings BDC, Inc. has a twelve month low of $8.55 and a twelve month high of $10.27. The stock has a market capitalization of $1.04 billion, a PE ratio of 8.02 and a beta of 0.67.

Barings BDC (NYSE:BBDC) last announced its earnings results on Wednesday, August 7th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.10. Barings BDC had a net margin of 38.32% and a return on equity of 11.49%. The firm had revenue of $74.89 million during the quarter, compared to analyst estimates of $70.75 million. During the same period in the prior year, the business earned $0.31 EPS. On average, equities research analysts anticipate that Barings BDC, Inc. will post 1.28 EPS for the current fiscal year.

Barings BDC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Wednesday, September 4th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 10.55%. The ex-dividend date of this dividend was Wednesday, September 4th. Barings BDC’s dividend payout ratio is presently 84.55%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased their price target on Barings BDC from $9.00 to $9.50 and gave the stock an “equal weight” rating in a report on Friday, July 26th.

Barings BDC Company Profile

Barings BDC, Inc is a publicly traded, externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. It seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries.