Golub Capital BDC (GBDC) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Golub Capital BDC (NASDAQ:GBDC) from a hold rating to a buy rating in a research note issued to investors on Monday. Zacks Investment Research currently has $21.00 price target on the investment management company’s stock.
According to Zacks, “Golub Capital BDC Inc. is a business development company that principally invests in senior secured, unitranche, mezzanine and second lien loans of middle-market companies that are, in most cases, sponsored by private equity investors. The Company’s investment activities are managed by its investment adviser, GC Advisors LLC, an affiliate of Golub Capital. “
Several other brokerages also recently commented on GBDC. National Securities restated a buy rating and issued a $21.00 price objective on shares of Golub Capital BDC in a research report on Monday, August 13th. BidaskClub upgraded Golub Capital BDC from a hold rating to a buy rating in a research report on Friday, November 23rd.
Golub Capital BDC (NASDAQ:GBDC) last posted its earnings results on Wednesday, November 28th. The investment management company reported $0.32 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.32. Golub Capital BDC had a return on equity of 8.02% and a net margin of 53.87%. The business had revenue of $40.40 million during the quarter, compared to analyst estimates of $38.74 million. During the same quarter last year, the company earned $0.32 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts forecast that Golub Capital BDC will post 1.3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Wednesday, December 12th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, December 11th. This represents a $1.28 dividend on an annualized basis and a yield of 6.92%. Golub Capital BDC’s dividend payout ratio is currently 99.22%.
Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Golub Capital BDC by 310.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,715 shares of the investment management company’s stock valued at $105,000 after purchasing an additional 4,324 shares during the last quarter. Sei Investments Co. grew its position in Golub Capital BDC by 62.2% during the 2nd quarter. Sei Investments Co. now owns 8,146 shares of the investment management company’s stock worth $149,000 after purchasing an additional 3,123 shares during the period. Belpointe Asset Management LLC acquired a new stake in Golub Capital BDC during the 3rd quarter worth about $158,000. M Holdings Securities Inc. acquired a new stake in Golub Capital BDC during the 3rd quarter worth about $202,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Golub Capital BDC during the 3rd quarter valued at about $276,000. Hedge funds and other institutional investors own 36.68% of the company’s stock.
About Golub Capital BDC
Golub Capital BDC, Inc 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. The company seeks to invest in the United States.
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