Golub Capital BDC (NASDAQ:GBDC) Lowered to Strong Sell Rating by Zacks Research

Golub Capital BDC (NASDAQ:GBDC) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently weighed in on GBDC. Weiss Ratings reiterated a “hold (c)” rating on shares of Golub Capital BDC in a research note on Friday, March 27th. Wells Fargo & Company reduced their price target on shares of Golub Capital BDC from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Wall Street Zen downgraded shares of Golub Capital BDC from a “hold” rating to a “sell” rating in a research report on Sunday, April 19th. Oppenheimer reiterated an “outperform” rating and issued a $14.00 price target on shares of Golub Capital BDC in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Golub Capital BDC from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.25.

Golub Capital BDC Stock Performance

Shares of Golub Capital BDC stock opened at $13.16 on Thursday. The firm’s 50 day moving average is $12.73 and its two-hundred day moving average is $13.28. The firm has a market capitalization of $3.43 billion, a P/E ratio of 17.09 and a beta of 0.41. The company has a quick ratio of 2.24, a current ratio of 2.20 and a debt-to-equity ratio of 1.25. Golub Capital BDC has a 52 week low of $11.77 and a 52 week high of $15.63.

Golub Capital BDC (NASDAQ:GBDC) last released its quarterly earnings results on Monday, May 4th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Golub Capital BDC had a return on equity of 10.20% and a net margin of 24.64%.The firm had revenue of ($5.28) million for the quarter, compared to analysts’ expectations of $201.71 million. During the same quarter in the prior year, the business earned $0.30 EPS. Research analysts forecast that Golub Capital BDC will post 1.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Golub Capital BDC

Several large investors have recently modified their holdings of GBDC. Lalia Capital LLC purchased a new stake in shares of Golub Capital BDC during the fourth quarter worth approximately $33,642,000. HighTower Advisors LLC raised its stake in shares of Golub Capital BDC by 279.4% during the third quarter. HighTower Advisors LLC now owns 2,529,267 shares of the investment management company’s stock worth $34,626,000 after purchasing an additional 1,862,632 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Golub Capital BDC by 53.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,917,312 shares of the investment management company’s stock worth $53,158,000 after purchasing an additional 1,368,759 shares during the last quarter. Rivernorth Capital Management LLC raised its stake in shares of Golub Capital BDC by 226.6% during the fourth quarter. Rivernorth Capital Management LLC now owns 1,714,828 shares of the investment management company’s stock worth $23,270,000 after purchasing an additional 1,189,706 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Golub Capital BDC by 29.4% during the fourth quarter. UBS Group AG now owns 2,864,751 shares of the investment management company’s stock worth $38,875,000 after purchasing an additional 651,110 shares during the last quarter. Hedge funds and other institutional investors own 42.38% of the company’s stock.

About Golub Capital BDC

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.