Steel Grove Capital Advisors LLC Trims Position in Golub Capital BDC, Inc. $GBDC

Steel Grove Capital Advisors LLC lessened its stake in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC) by 93.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,415 shares of the investment management company’s stock after selling 156,325 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Golub Capital BDC were worth $141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Main Street Group LTD acquired a new stake in shares of Golub Capital BDC during the 3rd quarter worth about $51,000. Advisory Services Network LLC acquired a new stake in shares of Golub Capital BDC during the 3rd quarter worth about $77,000. Clearstead Advisors LLC increased its position in shares of Golub Capital BDC by 48.6% during the 4th quarter. Clearstead Advisors LLC now owns 5,933 shares of the investment management company’s stock worth $81,000 after purchasing an additional 1,941 shares during the last quarter. Allworth Financial LP increased its position in shares of Golub Capital BDC by 213.5% during the 3rd quarter. Allworth Financial LP now owns 6,872 shares of the investment management company’s stock worth $94,000 after purchasing an additional 4,680 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Golub Capital BDC during the 4th quarter worth about $109,000. Hedge funds and other institutional investors own 42.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GBDC. Royal Bank Of Canada 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 Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Golub Capital BDC in a research report on Friday, March 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Golub Capital BDC in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods dropped their target price 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. Finally, Zacks Research downgraded Golub Capital BDC from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Golub Capital BDC presently has an average rating of “Moderate Buy” and an average target price of $14.00.

Golub Capital BDC Price Performance

GBDC stock opened at $13.08 on Thursday. The business has a 50 day moving average price of $12.96 and a 200 day moving average price of $13.18. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 16.99 and a beta of 0.41. Golub Capital BDC, Inc. has a fifty-two week low of $11.77 and a fifty-two week high of $15.63. 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 issued 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 during the quarter, compared to analysts’ expectations of $201.71 million. During the same quarter in the prior year, the firm posted $0.30 EPS. Equities research analysts anticipate that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current fiscal year.

Golub Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.1%. Golub Capital BDC’s payout ratio is presently 171.43%.

About Golub Capital BDC

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.