Sound Income Strategies LLC lowered its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC – Free Report) by 11.7% in the third quarter, HoldingsChannel reports. The firm owned 3,422,189 shares of the investment management company’s stock after selling 453,898 shares during the quarter. Golub Capital BDC makes up approximately 1.0% of Sound Income Strategies LLC’s holdings, making the stock its 10th biggest holding. Sound Income Strategies LLC’s holdings in Golub Capital BDC were worth $41,785,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Golub Capital BDC by 468.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 19,177 shares of the investment management company’s stock valued at $242,000 after buying an additional 15,805 shares during the period. Adams Asset Advisors LLC raised its stake in shares of Golub Capital BDC by 1.6% in the third quarter. Adams Asset Advisors LLC now owns 180,151 shares of the investment management company’s stock valued at $2,275,000 after acquiring an additional 2,852 shares in the last quarter. Confluence Investment Management LLC boosted its holdings in Golub Capital BDC by 2.4% in the third quarter. Confluence Investment Management LLC now owns 335,237 shares of the investment management company’s stock valued at $4,234,000 after purchasing an additional 7,714 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Golub Capital BDC during the 2nd quarter worth $294,000. Finally, Ehrenkranz Partners L.P. increased its holdings in Golub Capital BDC by 34.8% during the 2nd quarter. Ehrenkranz Partners L.P. now owns 77,366 shares of the investment management company’s stock worth $996,000 after purchasing an additional 19,981 shares during the period. 42.38% of the stock is currently owned by institutional investors and hedge funds.
Golub Capital BDC Stock Down 0.9%
Shares of GBDC traded down $0.11 during mid-day trading on Friday, reaching $12.10. The company’s stock had a trading volume of 1,503,101 shares, compared to its average volume of 1,798,596. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.33 and a quick ratio of 1.33. Golub Capital BDC, Inc. has a 12-month low of $11.77 and a 12-month high of $14.40. The stock has a market cap of $3.14 billion, a PE ratio of 18.62 and a beta of 0.41. The company’s 50 day moving average is $12.83 and its 200 day moving average is $12.90.
Golub Capital BDC Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were issued a $0.33 dividend. The ex-dividend date was Monday, September 14th. This represents a $1.32 annualized dividend and a dividend yield of 10.9%. Golub Capital BDC’s dividend payout ratio is presently 203.08%.
Insider Activity at Golub Capital BDC
In related news, Director Lawrence Golub sold 1,676,387 shares of Golub Capital BDC stock in a transaction on Friday, August 7th. The shares were sold at an average price of $13.06, for a total transaction of $21,893,614.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on GBDC shares. Keefe, Bruyette & Woods reduced their price target on 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. Zacks Research raised Golub Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen raised shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Golub Capital BDC in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Golub Capital BDC has a consensus rating of “Moderate Buy” and a consensus target price of $13.90.
Get Our Latest Stock Analysis on GBDC
Golub Capital BDC Company Profile
Golub Capital BDC, Inc is a business development company that provides financing to middle-market companies. The company primarily invests in privately owned businesses through senior secured loans, unitranche loans, second-lien loans, subordinated debt and, to a lesser extent, equity investments. Its objective is to generate current income and long-term capital appreciation by supporting companies across a range of industries.
Golub Capital BDC generally works with companies that are backed by private equity firms and provides customized financing for acquisitions, recapitalizations, refinancings, growth initiatives and other corporate purposes.
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