Van ECK Associates Corp Acquires 466,249 Shares of Golub Capital BDC, Inc. $GBDC

Van ECK Associates Corp lifted its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC) by 11.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,710,275 shares of the investment management company’s stock after purchasing an additional 466,249 shares during the period. Van ECK Associates Corp’s holdings in Golub Capital BDC were worth $60,668,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Corient Private Wealth LP bought a new position in Golub Capital BDC during the second quarter valued at about $50,833,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Golub Capital BDC in the second quarter worth about $47,015,000. Bank of America Corp DE bought a new stake in shares of Golub Capital BDC during the 2nd quarter worth about $43,696,000. Lalia Capital LLC bought a new stake in shares of Golub Capital BDC during the 2nd quarter worth about $33,556,000. Finally, Legal & General Group Plc bought a new stake in shares of Golub Capital BDC during the 2nd quarter worth about $31,483,000. 42.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Lawrence E. Golub sold 1,676,387 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $13.06, for a total transaction of $21,893,614.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank Of Canada cut their price objective on 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. Oppenheimer reaffirmed an “outperform” rating and set a $14.00 target price on shares of Golub Capital BDC in a research report on Wednesday, May 6th. Zacks Research upgraded Golub Capital BDC from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen raised shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Golub Capital BDC from $14.00 to $13.50 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Golub Capital BDC has a consensus rating of “Moderate Buy” and a consensus price target of $13.90.

Golub Capital BDC Stock Down 0.3%

GBDC stock opened at $13.03 on Friday. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 20.05 and a beta of 0.39. The company has a 50-day moving average of $12.95 and a two-hundred day moving average of $12.84. Golub Capital BDC, Inc. has a 52-week low of $11.77 and a 52-week high of $14.93. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.33 and a quick ratio of 1.33.

Golub Capital BDC (NASDAQ:GBDC) last posted its quarterly earnings data on Monday, August 3rd. The investment management company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Golub Capital BDC had a return on equity of 9.91% and a net margin of 21.45%.The business had revenue of $98.53 million for the quarter, compared to analyst estimates of $189.91 million. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, equities research analysts anticipate that Golub Capital BDC, Inc. will post 1.36 EPS for the current year.

Golub Capital BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.32 dividend on an annualized basis and a yield of 10.1%. Golub Capital BDC’s dividend payout ratio (DPR) is 203.08%.

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.