Short Interest in Golub Capital BDC Inc. (GBDC) Declines By 36.1%
Golub Capital BDC Inc. (NASDAQ:GBDC) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 651,429 shares, a decrease of 36.1% from the August 31st total of 1,019,351 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 145,946 shares, the short-interest ratio is presently 4.5 days.
In related news, Director John Thomas Baily sold 6,469 shares of the stock in a transaction that occurred on Saturday, July 30th. The stock was sold at an average price of $17.09, for a total transaction of $110,555.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new stake in shares of Golub Capital BDC during the second quarter valued at $574,000. Front Barnett Associates LLC increased its stake in shares of Golub Capital BDC by 1.8% in the second quarter. Front Barnett Associates LLC now owns 17,155 shares of the investment management company’s stock valued at $310,000 after buying an additional 300 shares during the period. Pekin Singer Strauss Asset Management IL increased its stake in shares of Golub Capital BDC by 15.4% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 20,595 shares of the investment management company’s stock valued at $372,000 after buying an additional 2,751 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of Golub Capital BDC by 8.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 496,310 shares of the investment management company’s stock valued at $8,968,000 after buying an additional 40,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Golub Capital BDC by 15,497.6% in the second quarter. Bank of New York Mellon Corp now owns 3,320,109 shares of the investment management company’s stock valued at $59,994,000 after buying an additional 3,298,823 shares during the period. 42.47% of the stock is owned by institutional investors.
Shares of Golub Capital BDC (NASDAQ:GBDC) opened at 18.57 on Friday. The stock has a 50 day moving average price of $18.79 and a 200-day moving average price of $17.95. Golub Capital BDC has a 52-week low of $14.80 and a 52-week high of $19.76.
Golub Capital BDC (NASDAQ:GBDC) last announced its quarterly earnings results on Wednesday, August 3rd. The investment management company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The company earned $32.10 million during the quarter, compared to the consensus estimate of $33.01 million. Golub Capital BDC had a net margin of 57.18% and a return on equity of 7.75%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. On average, equities research analysts predict that Golub Capital BDC will post $1.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Monday, September 5th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 6.89%. The ex-dividend date of this dividend was Wednesday, August 31st. Golub Capital BDC’s dividend payout ratio (DPR) is currently 90.78%.
Several research analysts recently commented on GBDC shares. Zacks Investment Research cut Golub Capital BDC from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. TheStreet raised Golub Capital BDC from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Finally, Janney Montgomery Scott started coverage on Golub Capital BDC in a research report on Tuesday, September 20th. They set a “neutral” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.83.
Golub Capital BDC Company Profile
Golub Capital BDC Inc is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by investing primarily in senior secured, one stop, second lien and subordinated loans of, and warrants and minority equity securities in, United States middle market companies.
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