Barings BDC (BBDC) Cut to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Barings BDC (NASDAQ:BBDC) from a hold rating to a sell rating in a research report released on Monday.
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. “
A number of other equities research analysts also recently issued reports on the stock. Raymond James raised shares of Barings BDC from an underperform rating to an outperform rating in a research report on Tuesday, September 11th. TheStreet downgraded shares of Barings BDC from a c- rating to a d+ rating in a research report on Thursday, November 29th.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 14th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.01%. This is an increase from Barings BDC’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, December 13th.
In other news, Treasurer Christopher Cary acquired 6,000 shares of Barings BDC stock in a transaction on Friday, September 28th. The stock was acquired at an average cost of $10.01 per share, with a total value of $60,060.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Barings Llc acquired 45,534 shares of Barings BDC stock in a transaction on Monday, December 3rd. The stock was purchased at an average cost of $10.03 per share, with a total value of $456,706.02. The disclosure for this purchase can be found here. Insiders acquired a total of 1,446,323 shares of company stock valued at $14,579,426 over the last ninety days.
A number of hedge funds have recently modified their holdings of the business. Sheaff Brock Investment Advisors LLC bought a new position in shares of Barings BDC during the 3rd quarter valued at approximately $101,000. BB&T Corp bought a new position in shares of Barings BDC during the 3rd quarter valued at approximately $110,000. CIBC World Markets Inc. bought a new position in shares of Barings BDC during the 3rd quarter valued at approximately $127,000. LPL Financial LLC bought a new position in shares of Barings BDC during the 3rd quarter valued at approximately $140,000. Finally, Great West Life Assurance Co. Can bought a new position in shares of Barings BDC during the 3rd quarter valued at approximately $152,000.
Barings BDC Company Profile
Triangle Capital Corp. engages in the provision of customized financing primarily to lower middle market companies. Its investment objective is to seek returns by generating current income from our debt investments, and capital appreciation from our equity-related investments. Its portfolio includes Aden and Anais, AGM Automotive, All Metals, American Silk, Avantor Performance Materials, and others.
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