Spire Wealth Management grew its holdings in Barings BDC, Inc. (NYSE:BBDC – Free Report) by 24.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,788 shares of the company’s stock after acquiring an additional 2,533 shares during the period. Spire Wealth Management’s holdings in Barings BDC were worth $100,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in Barings BDC in the second quarter worth approximately $28,000. Lake Point Wealth Management raised its stake in shares of Barings BDC by 3,008.0% in the 1st quarter. Lake Point Wealth Management now owns 3,108 shares of the company’s stock valued at $32,000 after buying an additional 3,008 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Barings BDC by 140.9% during the 1st quarter. Advisory Services Network LLC now owns 4,586 shares of the company’s stock worth $36,000 after purchasing an additional 2,682 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Barings BDC during the 1st quarter worth about $53,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Barings BDC during the 1st quarter worth about $55,000. 49.03% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently issued reports on BBDC. Compass Point raised their target price on shares of Barings BDC from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, August 16th. TheStreet raised Barings BDC from a “c+” rating to a “b-” rating in a research report on Friday, September 1st. Finally, Wells Fargo & Company downgraded shares of Barings BDC from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $9.00 to $8.50 in a report on Monday, November 13th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.50.
Barings BDC Stock Performance
NYSE BBDC opened at $8.93 on Tuesday. The firm has a 50-day moving average of $8.93 and a 200-day moving average of $8.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market cap of $951.19 million, a PE ratio of 9.92 and a beta of 0.68. Barings BDC, Inc. has a 52-week low of $6.96 and a 52-week high of $9.47.
Barings BDC (NYSE:BBDC – Get Free Report) last announced its quarterly earnings results on Friday, November 10th. The company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $70.85 million for the quarter, compared to analyst estimates of $74.06 million. Barings BDC had a net margin of 34.98% and a return on equity of 10.94%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. On average, sell-side analysts anticipate that Barings BDC, Inc. will post 1.17 EPS for the current year.
Barings BDC Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 11.65%. The ex-dividend date is Tuesday, December 5th. Barings BDC’s payout ratio is 115.56%.
Barings BDC Profile
Barings BDC, Inc is a publicly traded, externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. It seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries.
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