Legal & General Group Plc Buys 315,984 Shares of Golub Capital BDC, Inc. $GBDC

Legal & General Group Plc boosted its stake in Golub Capital BDC, Inc. (NASDAQ:GBDC) by 18.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,062,851 shares of the investment management company’s stock after purchasing an additional 315,984 shares during the period. Legal & General Group Plc’s holdings in Golub Capital BDC were worth $27,983,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GBDC. Strs Ohio increased its position in Golub Capital BDC by 2.9% during the fourth quarter. Strs Ohio now owns 16,704,760 shares of the investment management company’s stock valued at $226,684,000 after acquiring an additional 466,978 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Golub Capital BDC by 9.0% during the 3rd quarter. Van ECK Associates Corp now owns 4,843,816 shares of the investment management company’s stock valued at $66,312,000 after purchasing an additional 401,723 shares during the period. Bank of America Corp DE boosted its stake in shares of Golub Capital BDC by 5.7% in the third quarter. Bank of America Corp DE now owns 3,829,788 shares of the investment management company’s stock worth $52,430,000 after acquiring an additional 207,998 shares during the period. Sound Income Strategies LLC boosted its stake in Golub Capital BDC by 6.6% in the 4th quarter. Sound Income Strategies LLC now owns 3,602,799 shares of the investment management company’s stock worth $49,791,000 after purchasing an additional 224,142 shares during the period. Finally, Sage Mountain Advisors LLC grew its holdings in Golub Capital BDC by 11.0% during the 4th quarter. Sage Mountain Advisors LLC now owns 3,360,932 shares of the investment management company’s stock valued at $45,608,000 after buying an additional 332,443 shares in the last quarter. 42.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GBDC. Zacks Research lowered shares of Golub Capital BDC from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Golub Capital BDC in a research note on Friday, March 27th. Keefe, Bruyette & Woods cut their price objective on Golub Capital BDC from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Wall Street Zen downgraded Golub Capital BDC from a “hold” rating to a “sell” rating in a research report on Sunday, April 19th. Finally, Oppenheimer restated an “outperform” rating and set a $14.00 price target on shares of Golub Capital BDC in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Golub Capital BDC currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Golub Capital BDC Price Performance

Shares of GBDC opened at $13.16 on Monday. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average of $12.98 and a 200 day moving average of $13.17. The company has a market cap of $3.43 billion, a PE ratio of 17.09 and a beta of 0.39. Golub Capital BDC, Inc. has a 52-week low of $11.77 and a 52-week high of $15.63.

Golub Capital BDC (NASDAQ:GBDC) last posted its quarterly earnings data on Monday, May 4th. The investment management company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Golub Capital BDC had a net margin of 24.64% and a return on equity of 10.20%. The firm had revenue of ($5.28) million for the quarter, compared to the consensus estimate of $201.71 million. During the same quarter last year, the firm earned $0.30 EPS. On average, sell-side analysts expect that Golub Capital BDC, Inc. will post 1.36 EPS for the current year.

Golub Capital BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 10.0%. The ex-dividend date is Monday, June 15th. Golub Capital BDC’s dividend payout ratio is presently 171.43%.

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.