Golub Capital BDC, Inc. (NASDAQ:GBDC) Sees Large Increase in Short Interest

Golub Capital BDC, Inc. (NASDAQ:GBDC) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 3,850,000 shares, an increase of 9.1% from the March 15th total of 3,530,000 shares. Based on an average daily volume of 887,100 shares, the days-to-cover ratio is currently 4.3 days. Currently, 2.3% of the shares of the company are sold short.

Golub Capital BDC Price Performance

NASDAQ:GBDC traded up $0.06 during mid-day trading on Wednesday, hitting $16.63. The company’s stock had a trading volume of 187,840 shares, compared to its average volume of 860,955. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 9.10 and a beta of 0.57. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 1.20. Golub Capital BDC has a fifty-two week low of $12.77 and a fifty-two week high of $16.83. The stock has a fifty day moving average of $16.02 and a 200-day moving average of $15.29.

Golub Capital BDC (NASDAQ:GBDC) last issued its earnings results on Monday, February 5th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $164.77 million during the quarter, compared to analyst estimates of $160.93 million. Golub Capital BDC had a return on equity of 12.53% and a net margin of 48.94%. As a group, equities analysts forecast that Golub Capital BDC will post 1.95 EPS for the current fiscal year.

Golub Capital BDC Dividend Announcement

The business also recently disclosed a Variable dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, February 14th. Golub Capital BDC’s payout ratio is presently 85.71%.

Institutional Investors Weigh In On Golub Capital BDC

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sage Mountain Advisors LLC lifted its holdings in Golub Capital BDC by 4.5% during the 3rd quarter. Sage Mountain Advisors LLC now owns 2,066,311 shares of the investment management company’s stock valued at $30,313,000 after purchasing an additional 88,398 shares during the last quarter. Allen Investment Management LLC grew its position in Golub Capital BDC by 114.5% during the 3rd quarter. Allen Investment Management LLC now owns 1,371,018 shares of the investment management company’s stock worth $20,113,000 after acquiring an additional 731,959 shares during the last quarter. Barclays PLC bought a new stake in Golub Capital BDC during the 3rd quarter worth approximately $911,000. Baillie Gifford & Co. increased its holdings in Golub Capital BDC by 53.9% during the 3rd quarter. Baillie Gifford & Co. now owns 187,893 shares of the investment management company’s stock valued at $2,756,000 after purchasing an additional 65,793 shares in the last quarter. Finally, LPL Financial LLC raised its position in Golub Capital BDC by 3.3% in the 3rd quarter. LPL Financial LLC now owns 253,454 shares of the investment management company’s stock valued at $3,718,000 after purchasing an additional 7,989 shares during the last quarter. Institutional investors and hedge funds own 42.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Raymond James increased their target price on shares of Golub Capital BDC from $16.00 to $16.50 and gave the stock an “outperform” rating in a report on Tuesday, January 23rd. Bank of America upgraded shares of Golub Capital BDC from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Monday, March 25th. Wells Fargo & Company upped their price objective on shares of Golub Capital BDC from $15.00 to $15.50 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, StockNews.com downgraded Golub Capital BDC from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.40.

Golub Capital BDC Company Profile

Golub Capital BDC, Inc (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors.