Ehrenkranz Partners L.P. Invests $764,000 in Golub Capital BDC, Inc. $GBDC

Ehrenkranz Partners L.P. purchased a new stake in Golub Capital BDC, Inc. (NASDAQ:GBDC) in the third quarter, HoldingsChannel reports. The firm purchased 55,791 shares of the investment management company’s stock, valued at approximately $764,000. Golub Capital BDC makes up approximately 0.7% of Ehrenkranz Partners L.P.’s holdings, making the stock its 19th largest position.

Several other institutional investors have also made changes to their positions in the stock. Strs Ohio increased its stake in Golub Capital BDC by 2.9% during the 3rd quarter. Strs Ohio now owns 16,237,782 shares of the investment management company’s stock worth $222,295,000 after acquiring an additional 450,126 shares during the period. Van ECK Associates Corp lifted its position in shares of Golub Capital BDC by 9.0% during the 3rd quarter. Van ECK Associates Corp now owns 4,843,816 shares of the investment management company’s stock valued at $66,312,000 after acquiring an additional 401,723 shares during the period. Bank of America Corp DE lifted its position in shares of Golub Capital BDC by 5.7% during the 3rd quarter. Bank of America Corp DE now owns 3,829,788 shares of the investment management company’s stock valued at $52,430,000 after acquiring an additional 207,998 shares during the period. Sound Income Strategies LLC grew its holdings in shares of Golub Capital BDC by 2.0% during the 3rd quarter. Sound Income Strategies LLC now owns 3,378,657 shares of the investment management company’s stock worth $45,578,000 after purchasing an additional 65,008 shares in the last quarter. Finally, Generali Asset Management SPA SGR grew its holdings in shares of Golub Capital BDC by 4.7% during the 3rd quarter. Generali Asset Management SPA SGR now owns 2,630,739 shares of the investment management company’s stock worth $36,015,000 after purchasing an additional 118,034 shares in the last quarter. 42.38% of the stock is currently owned by institutional investors.

Golub Capital BDC Price Performance

Shares of GBDC opened at $11.97 on Friday. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.15 billion, a PE ratio of 9.58 and a beta of 0.45. Golub Capital BDC, Inc. has a 12-month low of $11.77 and a 12-month high of $15.63. The business has a 50-day simple moving average of $12.91 and a two-hundred day simple moving average of $13.61.

Golub Capital BDC (NASDAQ:GBDC) last announced its quarterly earnings results on Wednesday, February 4th. The investment management company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. The firm had revenue of $110.18 million for the quarter, compared to analyst estimates of $208.89 million. Golub Capital BDC had a return on equity of 10.37% and a net margin of 38.57%.During the same period last year, the firm posted $0.42 earnings per share. Analysts anticipate that Golub Capital BDC, Inc. will post 1.6 earnings per share for the current fiscal year.

Golub Capital BDC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 13th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, March 13th. This represents a $1.32 annualized dividend and a yield of 11.0%. Golub Capital BDC’s dividend payout ratio (DPR) is currently 124.80%.

Analysts Set New Price Targets

A number of research analysts recently commented on GBDC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Golub Capital BDC in a research note on Monday, December 29th. Lucid Cap Mkts upgraded shares of Golub Capital BDC to a “strong-buy” rating in a research note on Thursday, January 15th. Capital One Financial set a $15.00 target price on shares of Golub Capital BDC in a report on Thursday, January 15th. Wells Fargo & Company dropped their target price on shares of Golub Capital BDC from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Golub Capital BDC from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $14.38.

Golub Capital BDC Profile

Golub Capital BDC (NASDAQ: GBDC) is a publicly traded business development company specializing in providing debt and equity financing solutions to middle-market companies in the United States. Externally managed by Golub Capital LLC, the firm focuses on building a diversified portfolio of senior secured loans, unitranche facilities and second-lien debt instruments designed to support growth, acquisitions and recapitalizations. As a closed-end investment vehicle, GBDC offers investors direct exposure to private credit strategies within a regulated structure.

The company’s core business activities center on originating and managing bespoke financing arrangements for U.S.