Golub Capital BDC (NASDAQ:GBDC) Cut to Market Perform at Raymond James

Raymond James downgraded shares of Golub Capital BDC (NASDAQ:GBDC) from an outperform rating to a market perform rating in a report published on Wednesday, Marketbeat.com reports.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Golub Capital BDC from $15.00 to $15.50 and gave the company an equal weight rating in a research note on Monday, January 29th. Bank of America raised shares of Golub Capital BDC from a neutral rating to a buy rating and set a $17.00 price target for the company in a research report on Monday, March 25th. Finally, StockNews.com cut Golub Capital BDC from a buy rating to a hold rating in a research note on Friday, March 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $16.40.

Golub Capital BDC Price Performance

GBDC stock opened at $16.60 on Wednesday. The business’s fifty day moving average price is $16.43 and its 200 day moving average price is $15.58. Golub Capital BDC has a 12-month low of $12.91 and a 12-month high of $17.72. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $2.85 billion, a PE ratio of 8.18 and a beta of 0.55.

Golub Capital BDC (NASDAQ:GBDC) last released its earnings results on Monday, February 5th. The investment management company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). The firm had revenue of $164.77 million during the quarter, compared to analyst estimates of $160.93 million. Golub Capital BDC had a net margin of 48.94% and a return on equity of 12.53%. On average, sell-side analysts anticipate that Golub Capital BDC will post 1.95 EPS for the current year.

Golub Capital BDC Cuts Dividend

The firm also recently declared a Variable dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 16th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, May 15th. Golub Capital BDC’s dividend payout ratio is presently 76.85%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GBDC. Entropy Technologies LP purchased a new position in Golub Capital BDC in the first quarter valued at approximately $213,000. ProShare Advisors LLC raised its stake in Golub Capital BDC by 13.6% during the 1st quarter. ProShare Advisors LLC now owns 23,948 shares of the investment management company’s stock worth $398,000 after acquiring an additional 2,867 shares in the last quarter. Tranquility Partners LLC lifted its position in Golub Capital BDC by 1.2% in the first quarter. Tranquility Partners LLC now owns 343,361 shares of the investment management company’s stock valued at $5,710,000 after acquiring an additional 4,036 shares during the last quarter. Allen Investment Management LLC boosted its stake in Golub Capital BDC by 29.6% in the first quarter. Allen Investment Management LLC now owns 2,101,032 shares of the investment management company’s stock valued at $34,940,000 after acquiring an additional 479,339 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Golub Capital BDC during the first quarter worth about $878,000. 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.