Ares Management LLC lessened its position in Golub Capital BDC, Inc. (NASDAQ:GBDC) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,649,222 shares of the investment management company’s stock after selling 17,461 shares during the quarter. Golub Capital BDC comprises 0.9% of Ares Management LLC’s holdings, making the stock its 12th largest position. Ares Management LLC owned 0.97% of Golub Capital BDC worth $25,431,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lido Advisors LLC lifted its position in shares of Golub Capital BDC by 988.6% in the second quarter. Lido Advisors LLC now owns 192,148 shares of the investment management company’s stock valued at $2,963,000 after acquiring an additional 174,497 shares in the last quarter. Cowen Prime Advisors LLC purchased a new position in shares of Golub Capital BDC in the second quarter valued at approximately $254,000. UBS Group AG lifted its position in shares of Golub Capital BDC by 34.8% in the first quarter. UBS Group AG now owns 313,696 shares of the investment management company’s stock valued at $4,586,000 after acquiring an additional 81,011 shares in the last quarter. Homrich & Berg lifted its position in shares of Golub Capital BDC by 18.8% in the second quarter. Homrich & Berg now owns 329,290 shares of the investment management company’s stock valued at $5,078,000 after acquiring an additional 52,223 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Golub Capital BDC in the first quarter valued at approximately $706,000. Institutional investors and hedge funds own 42.96% of the company’s stock.
In other Golub Capital BDC news, CEO David Golub acquired 4,143 shares of the stock in a transaction dated Wednesday, July 28th. The stock was acquired at an average price of $15.94 per share, with a total value of $66,039.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Lawrence E. Golub acquired 5,000 shares of the stock in a transaction dated Wednesday, August 11th. The stock was acquired at an average cost of $15.81 per share, with a total value of $79,050.00. Following the purchase, the chairman now owns 125,389 shares of the company’s stock, valued at approximately $1,982,400.09. The disclosure for this purchase can be found here. Insiders acquired 54,202 shares of company stock worth $861,176 in the last 90 days. Company insiders own 6.90% of the company’s stock.
Golub Capital BDC (NASDAQ:GBDC) last posted its earnings results on Sunday, August 8th. The investment management company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.19. Golub Capital BDC had a return on equity of 7.76% and a net margin of 121.90%. The company had revenue of $75.77 million for the quarter, compared to the consensus estimate of $75.72 million. As a group, equities analysts forecast that Golub Capital BDC, Inc. will post 1.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 29th. Shareholders of record on Wednesday, September 8th were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, September 7th. This represents a $1.16 dividend on an annualized basis and a yield of 7.26%. Golub Capital BDC’s dividend payout ratio is currently 95.08%.
GBDC has been the topic of a number of analyst reports. Oppenheimer initiated coverage on Golub Capital BDC in a research report on Tuesday, September 21st. They set an “outperform” rating and a $16.00 price objective on the stock. Zacks Investment Research downgraded Golub Capital BDC from a “buy” rating to a “hold” rating in a research report on Tuesday.
About Golub Capital BDC
Golub Capital BDC operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by investing primarily in senior secured, one-stop, second lien, subordinated loans of, and warrants, and minority equity securities in, United States middle-market companies.
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