Barings BDC (NYSE:BBDC) Rating Increased to Buy at Zacks Investment Research

Barings BDC (NYSE:BBDCGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $11.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 6.59% from the stock’s current price.

According to Zacks, “Barings BDC, Inc. is an externally managed business development company which primarily makes debt investments in middle market companies. The company is primarily managed by Barings, LLC, a premier global asset manager. Barings BDC Inc., formerly known as TRIANGLE CAPITAL CORPORATION, is based in Charlotte, United States. “

Other equities research analysts have also issued research reports about the company. TheStreet lowered Barings BDC from a “b-” rating to a “c” rating in a research note on Monday, April 4th. Wells Fargo & Company lowered their price objective on Barings BDC from $13.00 to $12.50 and set an “overweight” rating for the company in a research note on Monday, April 25th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $11.85.

NYSE BBDC traded up $0.12 during mid-day trading on Tuesday, reaching $10.32. 895,944 shares of the company’s stock traded hands, compared to its average volume of 547,644. Barings BDC has a 1-year low of $9.83 and a 1-year high of $11.55. The company has a fifty day simple moving average of $10.39 and a 200-day simple moving average of $10.78. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.88. The company has a market cap of $674.06 million, a price-to-earnings ratio of 9.38 and a beta of 0.58.

Barings BDC (NYSE:BBDCGet Rating) last issued its quarterly earnings data on Friday, May 6th. The company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. Barings BDC had a return on equity of 8.55% and a net margin of 51.33%. During the same quarter last year, the firm posted $0.22 earnings per share. Equities research analysts forecast that Barings BDC will post 0.94 earnings per share for the current fiscal year.

In other news, Director Stephen R. Byers bought 16,035 shares of Barings BDC stock in a transaction on Monday, May 9th. The shares were bought at an average price of $10.25 per share, with a total value of $164,358.75. Following the acquisition, the director now directly owns 16,035 shares in the company, valued at approximately $164,358.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.43% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Advisers LP lifted its holdings in shares of Barings BDC by 6.0% in the 3rd quarter. Two Sigma Advisers LP now owns 300,500 shares of the company’s stock worth $3,312,000 after purchasing an additional 17,000 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Barings BDC by 883.2% in the 3rd quarter. HighTower Advisors LLC now owns 111,383 shares of the company’s stock worth $1,222,000 after purchasing an additional 100,054 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Barings BDC in the 3rd quarter worth approximately $63,000. Lenox Wealth Advisors LLC bought a new stake in shares of Barings BDC in the 4th quarter worth approximately $35,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Barings BDC by 43.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,757 shares of the company’s stock worth $648,000 after purchasing an additional 17,784 shares during the last quarter. 66.03% of the stock is currently owned by institutional investors and hedge funds.

Barings BDC Company Profile (Get Rating)

Barings BDC, Inc (NYSE: BBDC) is a publicly traded, externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. It seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries.

Further Reading

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Analyst Recommendations for Barings BDC (NYSE:BBDC)

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