Golub Capital BDC (NASDAQ:GBDC) Downgraded to “Market Perform” at Raymond James

Raymond James cut shares of Golub Capital BDC (NASDAQ:GBDC) from an outperform rating to a market perform rating in a report released on Wednesday, Marketbeat.com reports.

Several other research firms have also recently issued reports on GBDC. StockNews.com cut Golub Capital BDC from a buy rating to a hold rating in a research report on Friday, March 29th. Wells Fargo & Company increased their price objective on Golub Capital BDC from $15.00 to $15.50 and gave the company an equal weight rating in a research report on Monday, January 29th. Finally, Bank of America upgraded shares of Golub Capital BDC from a neutral rating to a buy rating and set a $17.00 target price on the stock in a research note on Monday, March 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $16.40.

Golub Capital BDC Price Performance

Shares of NASDAQ:GBDC opened at $16.60 on Wednesday. The company has a market capitalization of $2.85 billion, a PE ratio of 8.18 and a beta of 0.55. The business has a fifty day moving average price of $16.43 and a 200-day moving average price of $15.58. Golub Capital BDC has a 1-year low of $12.91 and a 1-year high of $17.72. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.15 and a quick ratio of 3.15.

Golub Capital BDC (NASDAQ:GBDC) last issued its earnings results on Monday, February 5th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Golub Capital BDC had a return on equity of 12.53% and a net margin of 48.94%. The firm had revenue of $164.77 million during the quarter, compared to the consensus estimate of $160.93 million. As a group, equities analysts expect that Golub Capital BDC will post 1.95 EPS for the current fiscal year.

Golub Capital BDC Cuts Dividend

The firm also recently declared a Variable dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, May 15th. Golub Capital BDC’s payout ratio is currently 76.85%.

Hedge Funds Weigh In On Golub Capital BDC

A number of institutional investors and hedge funds have recently made changes to their positions in GBDC. Private Trust Co. NA raised its position in Golub Capital BDC by 1,005.0% in the fourth quarter. Private Trust Co. NA now owns 2,199 shares of the investment management company’s stock worth $33,000 after acquiring an additional 2,000 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Golub Capital BDC during the 1st quarter valued at approximately $38,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Golub Capital BDC by 77.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,463 shares of the investment management company’s stock worth $52,000 after purchasing an additional 1,508 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Golub Capital BDC by 39.1% during the 1st quarter. BNP Paribas Financial Markets now owns 6,898 shares of the investment management company’s stock valued at $115,000 after purchasing an additional 1,940 shares during the period. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in shares of Golub Capital BDC during the 4th quarter valued at $151,000. Hedge funds and other institutional investors own 42.38% of the company’s stock.

About Golub Capital BDC

Golub Capital BDC, Inc (GBDC) 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.