Callodine Capital Management LP Cuts Stock Holdings in Golub Capital BDC, Inc. $GBDC

Callodine Capital Management LP lowered its position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC) by 55.6% in the first quarter, Holdings Channel.com reports. The fund owned 200,000 shares of the investment management company’s stock after selling 250,000 shares during the quarter. Callodine Capital Management LP’s holdings in Golub Capital BDC were worth $2,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GBDC. Cetera Investment Advisers boosted its stake in shares of Golub Capital BDC by 12.7% in the first quarter. Cetera Investment Advisers now owns 119,901 shares of the investment management company’s stock worth $1,518,000 after acquiring an additional 13,527 shares during the last quarter. Levin Capital Strategies L.P. lifted its holdings in Golub Capital BDC by 12.9% in the 1st quarter. Levin Capital Strategies L.P. now owns 11,628 shares of the investment management company’s stock valued at $147,000 after purchasing an additional 1,328 shares in the last quarter. NewEdge Wealth LLC boosted its stake in Golub Capital BDC by 81.7% during the 1st quarter. NewEdge Wealth LLC now owns 51,102 shares of the investment management company’s stock worth $647,000 after purchasing an additional 22,975 shares during the last quarter. First Trust Advisors LP boosted its stake in Golub Capital BDC by 60.0% during the 1st quarter. First Trust Advisors LP now owns 198,850 shares of the investment management company’s stock worth $2,517,000 after purchasing an additional 74,580 shares during the last quarter. Finally, NewGen Asset Management Ltd purchased a new stake in shares of Golub Capital BDC during the first quarter worth $324,000. Hedge funds and other institutional investors own 42.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Golub Capital BDC from a “hold” rating to a “sell” rating in a research report on Sunday, April 19th. Zacks Research upgraded shares of Golub Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Oppenheimer reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Golub Capital BDC in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Golub Capital BDC in a report on Wednesday, June 24th. Finally, Royal Bank Of Canada decreased their target price on shares of 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. One equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Golub Capital BDC Price Performance

Shares of NASDAQ:GBDC opened at $12.78 on Friday. Golub Capital BDC, Inc. has a 52-week low of $11.77 and a 52-week high of $15.42. The stock has a market cap of $3.33 billion, a P/E ratio of 16.60 and a beta of 0.39. The business has a fifty day moving average of $12.89 and a two-hundred day moving average of $12.91. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.25.

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

Golub Capital BDC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.32 dividend on an annualized basis and a yield of 10.3%. Golub Capital BDC’s payout ratio is 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.