Raymond James & Associates Has $1.84 Million Stake in Golub Capital BDC, Inc. (NASDAQ:GBDC)

Raymond James & Associates raised its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,963 shares of the investment management company’s stock after purchasing an additional 6,104 shares during the period. Raymond James & Associates owned approximately 0.07% of Golub Capital BDC worth $1,837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Boston Partners acquired a new position in Golub Capital BDC in the 1st quarter valued at $12,126,000. Allen Investment Management LLC raised its stake in Golub Capital BDC by 29.6% in the first quarter. Allen Investment Management LLC now owns 2,101,032 shares of the investment management company’s stock valued at $34,940,000 after purchasing an additional 479,339 shares in the last quarter. Van ECK Associates Corp raised its stake in Golub Capital BDC by 16.1% in the first quarter. Van ECK Associates Corp now owns 2,872,157 shares of the investment management company’s stock valued at $47,764,000 after purchasing an additional 399,231 shares in the last quarter. Confluence Investment Management LLC bought a new stake in Golub Capital BDC during the first quarter worth about $5,509,000. Finally, TCW Group Inc. increased its holdings in Golub Capital BDC by 63.0% in the 2nd quarter. TCW Group Inc. now owns 430,702 shares of the investment management company’s stock valued at $6,766,000 after buying an additional 166,480 shares during the period. Institutional investors and hedge funds own 42.38% of the company’s stock.

Analysts Set New Price Targets

GBDC has been the topic of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Golub Capital BDC in a report on Wednesday, August 7th. Keefe, Bruyette & Woods lowered their target price on Golub Capital BDC from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. StockNews.com cut shares of Golub Capital BDC from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company decreased their price target on shares of Golub Capital BDC from $15.50 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. Finally, Raymond James downgraded shares of Golub Capital BDC from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Golub Capital BDC has a consensus rating of “Moderate Buy” and a consensus target price of $16.40.

Golub Capital BDC Stock Performance

NASDAQ:GBDC opened at $14.90 on Wednesday. The stock’s 50-day moving average is $15.22 and its 200-day moving average is $15.90. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 1.06. Golub Capital BDC, Inc. has a 1-year low of $13.95 and a 1-year high of $17.72. The stock has a market cap of $2.56 billion, a P/E ratio of 7.34 and a beta of 0.52.

Golub Capital BDC (NASDAQ:GBDC) last released its quarterly earnings results on Monday, August 5th. The investment management company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Golub Capital BDC had a net margin of 42.14% and a return on equity of 11.99%. The business had revenue of $171.27 million for the quarter, compared to the consensus estimate of $205.24 million. During the same period in the previous year, the business posted $0.44 EPS. Equities research analysts anticipate that Golub Capital BDC, Inc. will post 1.92 earnings per share for the current year.

Golub Capital BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.39 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.56 annualized dividend and a dividend yield of 10.47%. Golub Capital BDC’s payout ratio is 76.85%.

Insider Transactions at Golub Capital BDC

In related news, CEO David Golub bought 450,000 shares of Golub Capital BDC stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average cost of $16.03 per share, for a total transaction of $7,213,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,718,880 shares of the company’s stock, valued at approximately $27,553,646.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Golub bought 450,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average price of $16.03 per share, for a total transaction of $7,213,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,718,880 shares in the company, valued at $27,553,646.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lawrence E. Golub purchased 62,267 shares of the business’s stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $16.06 per share, for a total transaction of $1,000,008.02. Following the transaction, the chairman now directly owns 1,268,880 shares of the company’s stock, valued at approximately $20,378,212.80. The disclosure for this purchase can be found here. Insiders purchased 707,015 shares of company stock worth $11,199,138 over the last ninety days. 2.70% of the stock is owned by insiders.

About Golub Capital BDC

Golub Capital BDC, Inc (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors.