Golub Capital BDC, Inc. (NASDAQ:GBDC) Sees Significant Drop in Short Interest

Golub Capital BDC, Inc. (NASDAQ:GBDC) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 2,410,000 shares, a decrease of 8.0% from the October 15th total of 2,620,000 shares. Based on an average daily trading volume, of 1,360,000 shares, the days-to-cover ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GBDC. Wells Fargo & Company boosted their target price on Golub Capital BDC from $15.00 to $15.50 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. StockNews.com upgraded shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Oppenheimer restated an “outperform” rating and issued a $17.00 target price on shares of Golub Capital BDC in a report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Golub Capital BDC from $17.50 to $16.50 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Golub Capital BDC has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Insider Activity

In related news, Chairman Lawrence E. Golub acquired 20,000 shares of Golub Capital BDC stock in a transaction on Monday, August 26th. The shares were bought at an average cost of $15.01 per share, with a total value of $300,200.00. Following the completion of the purchase, the chairman now directly owns 1,858,880 shares of the company’s stock, valued at $27,901,788.80. The trade was a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have acquired 80,000 shares of company stock worth $1,197,400. 0.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GBDC. Northeast Financial Consultants Inc boosted its position in Golub Capital BDC by 151.8% in the 2nd quarter. Northeast Financial Consultants Inc now owns 2,104,195 shares of the investment management company’s stock valued at $33,057,000 after buying an additional 1,268,442 shares during the period. Millennium Management LLC boosted its holdings in shares of Golub Capital BDC by 1,170.6% in the second quarter. Millennium Management LLC now owns 786,569 shares of the investment management company’s stock valued at $12,357,000 after purchasing an additional 724,662 shares during the period. Boston Partners bought a new position in Golub Capital BDC in the first quarter worth approximately $12,126,000. Partners Group Holding AG increased its holdings in Golub Capital BDC by 48.2% during the 3rd quarter. Partners Group Holding AG now owns 1,994,663 shares of the investment management company’s stock worth $30,139,000 after purchasing an additional 648,855 shares during the period. Finally, Van ECK Associates Corp raised its position in Golub Capital BDC by 22.3% during the 2nd quarter. Van ECK Associates Corp now owns 3,513,023 shares of the investment management company’s stock valued at $55,190,000 after purchasing an additional 640,866 shares in the last quarter. Hedge funds and other institutional investors own 42.38% of the company’s stock.

Golub Capital BDC Trading Down 0.3 %

GBDC stock traded down $0.05 during midday trading on Tuesday, reaching $15.47. The company’s stock had a trading volume of 435,857 shares, compared to its average volume of 1,155,113. Golub Capital BDC has a 1 year low of $14.05 and a 1 year high of $17.72. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 9.41 and a beta of 0.54. The stock has a fifty day simple moving average of $15.16 and a two-hundred day simple moving average of $15.45. The company has a debt-to-equity ratio of 1.06, a quick ratio of 5.01 and a current ratio of 5.01.

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.