Golub Capital BDC (NASDAQ:GBDC) Stock Price Breaks Above 50 Day Moving Average – Here’s Why

Golub Capital BDC, Inc. (NASDAQ:GBDC) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $12.55 and traded as high as $12.80. Golub Capital BDC shares last traded at $12.78, with a volume of 1,136,190 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Golub Capital BDC from $14.00 to $13.50 and set an “outperform” rating for the company in a research note on Wednesday, August 5th. Zacks Research upgraded shares of Golub Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen upgraded shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised shares of Golub Capital BDC from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.90.

Golub Capital BDC Stock Performance

The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.22. The stock’s 50 day moving average price is $12.55 and its two-hundred day moving average price is $12.82. The firm has a market capitalization of $3.32 billion, a PE ratio of 19.66 and a beta of 0.41.

Golub Capital BDC (NASDAQ:GBDC) last posted its quarterly earnings data on Monday, August 3rd. The investment management company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Golub Capital BDC had a return on equity of 9.91% and a net margin of 21.45%. The business had revenue of $98.53 million for the quarter, compared to analyst estimates of $189.91 million. During the same quarter last year, the company earned $0.39 earnings per share. On average, equities analysts expect that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Golub Capital BDC

In other news, Director Lawrence Golub sold 1,676,387 shares of Golub Capital BDC stock in a transaction on Friday, August 7th. The stock was sold at an average price of $13.06, for a total value of $21,893,614.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Golub Capital BDC

Institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in shares of Golub Capital BDC by 4.2% during the 2nd quarter. HighTower Advisors LLC now owns 7,345,885 shares of the investment management company’s stock worth $94,615,000 after purchasing an additional 299,240 shares during the period. Bank of New York Mellon Corp acquired a new position in Golub Capital BDC in the 2nd quarter worth $2,191,000. BlackRock Inc. purchased a new position in Golub Capital BDC in the second quarter valued at about $16,206,000. Orographic Financial Advisors LLC purchased a new position in shares of Golub Capital BDC during the 1st quarter valued at approximately $1,069,000. Finally, Bank of America Corp DE bought a new position in Golub Capital BDC during the 2nd quarter valued at $43,696,000. Hedge funds and other institutional investors own 42.38% of the company’s stock.

About Golub Capital BDC

Golub Capital BDC, Inc is a business development company that provides financing to middle-market companies. The company primarily invests in senior secured loans and other debt investments, with the objective of generating current income and, to a lesser extent, capital appreciation.

Its investment portfolio generally consists of loans to established businesses across a range of industries. Golub Capital BDC may also make subordinated debt and equity-related investments, allowing it to provide flexible financing solutions alongside private equity sponsors and other financial partners.

The company focuses primarily on middle-market businesses in the United States.