Golub Capital BDC (NASDAQ:GBDC) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Golub Capital BDC (NASDAQ:GBDC) from a hold rating to a sell rating in a research report released on Sunday morning.

GBDC has been the subject of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of Golub Capital BDC in a research report on Monday, December 29th. Keefe, Bruyette & Woods decreased their target price on Golub Capital BDC from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Lucid Cap Mkts upgraded Golub Capital BDC to a “strong-buy” rating in a research note on Thursday, January 15th. Capital One Financial set a $15.00 price target on Golub Capital BDC in a research note on Thursday, January 15th. Finally, Wells Fargo & Company decreased their price objective on Golub Capital BDC from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $14.38.

Golub Capital BDC Price Performance

Shares of GBDC opened at $12.47 on Friday. The company’s 50-day moving average is $12.86 and its 200-day moving average is $13.56. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.24 and a quick ratio of 2.24. The firm has a market capitalization of $3.28 billion, a PE ratio of 9.98 and a beta of 0.45. Golub Capital BDC has a fifty-two week low of $11.77 and a fifty-two week high of $15.63.

Golub Capital BDC (NASDAQ:GBDC) last announced its earnings results on Wednesday, February 4th. The investment management company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. Golub Capital BDC had a net margin of 38.57% and a return on equity of 10.37%. The business had revenue of $110.18 million during the quarter, compared to the consensus estimate of $208.89 million. During the same quarter in the previous year, the firm posted $0.42 EPS. Equities analysts forecast that Golub Capital BDC will post 1.6 EPS for the current year.

Golub Capital BDC Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 13th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.32 annualized dividend and a yield of 10.6%. Golub Capital BDC’s dividend payout ratio is presently 105.60%.

Hedge Funds Weigh In On Golub Capital BDC

A number of hedge funds have recently modified their holdings of the company. Strs Ohio grew its stake in shares of Golub Capital BDC by 2.9% in the fourth quarter. Strs Ohio now owns 16,704,760 shares of the investment management company’s stock worth $226,684,000 after purchasing an additional 466,978 shares during the last quarter. Van ECK Associates Corp raised its position in 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 purchasing an additional 401,723 shares during the last quarter. JPMorgan Chase & Co. raised its position in Golub Capital BDC by 53.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,917,312 shares of the investment management company’s stock valued at $53,158,000 after purchasing an additional 1,368,759 shares during the last quarter. Bank of America Corp DE lifted its holdings in Golub Capital BDC by 5.7% in the 3rd quarter. Bank of America Corp DE now owns 3,829,788 shares of the investment management company’s stock worth $52,430,000 after buying an additional 207,998 shares during the period. Finally, Sound Income Strategies LLC grew its position in shares of Golub Capital BDC by 6.6% in the 4th quarter. Sound Income Strategies LLC now owns 3,602,799 shares of the investment management company’s stock worth $49,791,000 after buying an additional 224,142 shares during the last quarter. Hedge funds and other institutional investors own 42.38% of the company’s stock.

Golub Capital BDC Company 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.