Oppenheimer Reaffirms Outperform Rating for Golub Capital BDC (NASDAQ:GBDC)

Oppenheimer reiterated their outperform rating on shares of Golub Capital BDC (NASDAQ:GBDC) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a $17.00 target price on the investment management company’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company reduced their price objective on shares of Golub Capital BDC from $15.50 to $15.00 and set an equal weight rating on the stock in a research note on Wednesday. Raymond James lowered Golub Capital BDC from an outperform rating to a market perform rating in a research note on Wednesday, May 8th. Keefe, Bruyette & Woods lowered their price objective on Golub Capital BDC from $17.50 to $16.50 and set an outperform rating for the company in a research report on Wednesday. Finally, StockNews.com lowered Golub Capital BDC from a buy rating to a hold rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $16.40.

Golub Capital BDC Price Performance

Shares of NASDAQ GBDC traded up $0.01 during trading on Wednesday, reaching $14.40. The company had a trading volume of 1,412,616 shares, compared to its average volume of 1,080,645. The company has a current ratio of 6.29, a quick ratio of 6.29 and a debt-to-equity ratio of 1.26. Golub Capital BDC has a twelve month low of $13.95 and a twelve month high of $17.72. The stock has a 50-day moving average price of $15.57 and a two-hundred day moving average price of $15.97. The stock has a market capitalization of $2.47 billion, a PE ratio of 7.09 and a beta of 0.52.

Golub Capital BDC (NASDAQ:GBDC) last posted 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). The company had revenue of $171.27 million for the quarter, compared to analysts’ expectations of $205.24 million. Golub Capital BDC had a return on equity of 13.03% and a net margin of 53.05%. During the same quarter in the prior year, the business posted $0.44 EPS. As a group, sell-side analysts predict that Golub Capital BDC will post 1.95 earnings per share for the current year.

Golub Capital BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 10.83%. The ex-dividend date of this dividend is Friday, August 30th. Golub Capital BDC’s payout ratio is currently 76.85%.

Insider Buying and Selling at Golub Capital BDC

In other news, Chairman Lawrence E. Golub acquired 62,267 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were bought at an average cost of $16.06 per share, for a total transaction of $1,000,008.02. Following the acquisition, the chairman now directly owns 1,268,880 shares in the company, valued at approximately $20,378,212.80. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Golub Capital BDC news, Chairman Lawrence E. Golub bought 62,267 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $16.06 per share, with a total value of $1,000,008.02. Following the transaction, the chairman now owns 1,268,880 shares in the company, valued at $20,378,212.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Golub purchased 450,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $16.03 per share, for a total transaction of $7,213,500.00. Following the acquisition, the chief executive officer now directly owns 1,718,880 shares of the company’s stock, valued at approximately $27,553,646.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 601,015 shares of company stock valued at $9,636,138. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Golub Capital BDC

Hedge funds and other institutional investors have recently made changes to their positions in the business. Waterloo Capital L.P. purchased a new position in Golub Capital BDC in the fourth quarter valued at about $1,304,000. SG Americas Securities LLC acquired a new position in Golub Capital BDC during the 1st quarter worth approximately $878,000. Baillie Gifford & Co. boosted its holdings in Golub Capital BDC by 37.5% in the 1st quarter. Baillie Gifford & Co. now owns 307,486 shares of the investment management company’s stock worth $5,113,000 after acquiring an additional 83,787 shares during the period. Quest Partners LLC acquired a new stake in Golub Capital BDC in the fourth quarter valued at approximately $1,029,000. Finally, Sound Income Strategies LLC raised its stake in shares of Golub Capital BDC by 4.6% during the first quarter. Sound Income Strategies LLC now owns 2,661,937 shares of the investment management company’s stock valued at $44,268,000 after purchasing an additional 116,366 shares during the period. Institutional investors and hedge funds 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.