Castlekeep Investment Advisors LLC acquired a new stake in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 366,121 shares of the investment management company’s stock, valued at approximately $4,716,000. Golub Capital BDC makes up about 2.4% of Castlekeep Investment Advisors LLC’s holdings, making the stock its 14th biggest position.
Several other hedge funds and other institutional investors also recently made changes to their positions in GBDC. Legal & General Group Plc acquired a new stake in shares of Golub Capital BDC during the second quarter valued at approximately $31,483,000. The Manufacturers Life Insurance Company acquired a new position in Golub Capital BDC in the 2nd quarter worth approximately $913,000. Palliser Capital UK Ltd purchased a new position in shares of Golub Capital BDC during the second quarter valued at $259,000. Osbon Capital Management LLC acquired a new position in Golub Capital BDC during the second quarter valued at $1,439,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Golub Capital BDC in the 2nd quarter worth about $47,015,000. 42.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Golub Capital BDC
In other news, Director Lawrence E. Golub sold 1,676,387 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $13.06, for a total transaction of $21,893,614.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.
Golub Capital BDC Stock Down 1.0%
Golub Capital BDC (NASDAQ:GBDC – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $98.53 million during the quarter, compared to analysts’ expectations of $189.91 million. Golub Capital BDC had a net margin of 21.45% and a return on equity of 9.91%. During the same period in the prior year, the company posted $0.39 earnings per share. Sell-side analysts forecast that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current fiscal year.
Golub Capital BDC Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.1%. Golub Capital BDC’s payout ratio is currently 203.08%.
Analyst Upgrades and Downgrades
GBDC has been the topic of several research analyst reports. Royal Bank Of Canada lowered their target price on Golub Capital BDC from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Zacks Research raised shares of Golub Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Golub Capital BDC from $14.00 to $13.50 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Golub Capital BDC in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.90.
Get Our Latest Research Report on GBDC
Golub Capital BDC Profile
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.
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