Golub Capital BDC Inc. (NASDAQ:GBDC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “Golub Capital BDC Inc. is a business development company that principally invests in senior secured, unitranche, mezzanine and second lien loans of middle-market companies that are, in most cases, sponsored by private equity investors. The Company’s investment activities are managed by its investment adviser, GC Advisors LLC, an affiliate of Golub Capital. “

Several other equities analysts have also recently weighed in on the company. National Securities reiterated a “neutral” rating and set a $18.00 price objective on shares of Golub Capital BDC in a report on Friday. Janney Montgomery Scott began coverage on Golub Capital BDC in a report on Tuesday, September 20th. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, TheStreet upgraded Golub Capital BDC from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.88.

Golub Capital BDC (NASDAQ:GBDC) opened at 18.40 on Friday. The firm has a market cap of $976.23 million, a P/E ratio of 13.02 and a beta of 0.61. Golub Capital BDC has a one year low of $14.80 and a one year high of $19.76. The firm’s 50-day moving average price is $18.22 and its 200 day moving average price is $18.19.

Golub Capital BDC (NASDAQ:GBDC) last released its quarterly earnings data on Wednesday, November 16th. The investment management company reported $0.32 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. Golub Capital BDC had a return on equity of 7.80% and a net margin of 54.12%. The business had revenue of $34.50 million for the quarter, compared to analysts’ expectations of $32.71 million. During the same quarter in the previous year, the business posted $0.32 EPS. Golub Capital BDC’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that Golub Capital BDC will post $1.27 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Monday, December 12th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 6.96%. The ex-dividend date is Thursday, December 8th. Golub Capital BDC’s payout ratio is 96.24%.

A number of large investors have recently added to or reduced their stakes in GBDC. Legal & General Group Plc boosted its stake in Golub Capital BDC by 26.3% in the first quarter. Legal & General Group Plc now owns 99,432 shares of the investment management company’s stock valued at $1,720,000 after buying an additional 20,696 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in Golub Capital BDC by 1.3% in the first quarter. First Republic Investment Management Inc. now owns 148,901 shares of the investment management company’s stock valued at $2,578,000 after buying an additional 1,859 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Golub Capital BDC by 2.4% in the second quarter. Confluence Investment Management LLC now owns 780,385 shares of the investment management company’s stock valued at $14,102,000 after buying an additional 18,047 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in 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 last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in 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 last quarter. Hedge funds and other institutional investors own 42.46% of the company’s stock.

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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