Private Management Group Inc. Purchases 110,949 Shares of Barings Bdc, Inc. $BBDC

Private Management Group Inc. raised its position in Barings Bdc, Inc. (NYSE:BBDC) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,890,673 shares of the company’s stock after buying an additional 110,949 shares during the period. Barings Bdc makes up about 1.1% of Private Management Group Inc.’s holdings, making the stock its 17th biggest holding. Private Management Group Inc. owned approximately 4.67% of Barings Bdc worth $42,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new stake in shares of Barings Bdc during the second quarter worth about $7,483,000. Bank of America Corp DE purchased a new position in Barings Bdc in the second quarter valued at about $5,885,000. BlackRock Inc. purchased a new position in Barings Bdc in the second quarter valued at about $4,339,000. Van ECK Associates Corp grew its stake in Barings Bdc by 26.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,309,564 shares of the company’s stock valued at $19,677,000 after purchasing an additional 484,649 shares in the last quarter. Finally, Rivernorth Capital Management LLC acquired a new stake in Barings Bdc during the 2nd quarter valued at approximately $1,748,000. 44.09% of the stock is owned by hedge funds and other institutional investors.

Barings Bdc Price Performance

BBDC opened at $8.78 on Tuesday. The company has a 50-day moving average of $8.67 and a 200-day moving average of $8.67. The company has a market capitalization of $918.93 million, a P/E ratio of 10.32 and a beta of 0.65. Barings Bdc, Inc. has a 1-year low of $7.96 and a 1-year high of $9.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.09 and a current ratio of 0.09.

Barings Bdc (NYSE:BBDC) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). The company had revenue of $64.29 million for the quarter, compared to the consensus estimate of $63.54 million. Barings Bdc had a return on equity of 10.07% and a net margin of 32.73%. During the same period in the previous year, the business posted $0.22 EPS. Equities analysts expect that Barings Bdc, Inc. will post 1.04 EPS for the current fiscal year.

Barings Bdc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Wednesday, December 2nd will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 11.9%. The ex-dividend date of this dividend is Wednesday, December 2nd. Barings Bdc’s dividend payout ratio (DPR) is currently 122.35%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Barings Bdc from $9.50 to $10.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Zacks Research lowered Barings Bdc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings cut Barings Bdc from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 16th. Finally, Raymond James Financial set a $9.00 price target on shares of Barings Bdc in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Barings Bdc presently has a consensus rating of “Hold” and a consensus price target of $9.50.

About Barings Bdc

Barings BDC, Inc (NYSE:BBDC) is a business development company that provides financing to privately owned, middle-market businesses. The company seeks to support companies across a range of industries by investing in their debt and equity securities.

Barings BDC primarily invests in senior secured loans, including first-lien and second-lien debt, as well as subordinated debt and selected equity investments. Its portfolio companies are generally based in the United States and may use the financing for acquisitions, recapitalizations, refinancing, growth initiatives, and other corporate purposes.

The company was formerly known as Triangle Capital Corporation and adopted the Barings BDC name following a change in its investment management arrangements.