Cresset Asset Management LLC Acquires 570,637 Shares of Barings Bdc, Inc. $BBDC

Cresset Asset Management LLC grew its holdings in shares of Barings Bdc, Inc. (NYSE:BBDC) by 36.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,141,977 shares of the company’s stock after acquiring an additional 570,637 shares during the quarter. Cresset Asset Management LLC owned 2.04% of Barings Bdc worth $18,764,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in shares of Barings Bdc during the 3rd quarter valued at $38,000. Mather Group LLC. purchased a new stake in Barings Bdc during the third quarter valued at about $44,000. Golden State Wealth Management LLC boosted its position in Barings Bdc by 269.6% during the second quarter. Golden State Wealth Management LLC now owns 7,077 shares of the company’s stock valued at $65,000 after buying an additional 5,162 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Barings Bdc during the third quarter valued at about $88,000. Finally, Wealth Management Partners LLC purchased a new position in shares of Barings Bdc in the third quarter worth about $92,000. 44.09% of the stock is currently owned by institutional investors.

Barings Bdc Trading Down 2.6%

NYSE BBDC opened at $8.35 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.10 and a current ratio of 0.10. Barings Bdc, Inc. has a fifty-two week low of $7.66 and a fifty-two week high of $9.92. The stock has a market cap of $874.33 million, a P/E ratio of 8.61 and a beta of 0.60. The stock has a 50 day simple moving average of $9.04 and a two-hundred day simple moving average of $9.04.

Barings Bdc (NYSE:BBDC) last announced its earnings results on Thursday, February 19th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $65.28 million during the quarter, compared to the consensus estimate of $67.66 million. Barings Bdc had a return on equity of 10.05% and a net margin of 36.50%.During the same quarter in the prior year, the company earned $0.28 earnings per share. On average, analysts forecast that Barings Bdc, Inc. will post 1.13 earnings per share for the current year.

Barings Bdc Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 12.5%. The ex-dividend date of this dividend is Wednesday, March 4th. Barings Bdc’s dividend payout ratio (DPR) is currently 107.22%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BBDC. Keefe, Bruyette & Woods dropped their target price on Barings Bdc from $10.00 to $9.50 and set a “market perform” rating for the company in a report on Monday, November 10th. Weiss Ratings upgraded Barings Bdc from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company dropped their price objective on Barings Bdc from $10.00 to $9.50 and set an “overweight” rating for the company in a research note on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.67.

About Barings Bdc

Barings BDC Inc (NYSE: BBDC) is a closed-end, externally managed business development company that provides flexible financing solutions to middle-market companies. As an investment vehicle organized under the Investment Company Act of 1940, BBDC seeks to generate both current income and capital appreciation by investing primarily in senior secured loans, second lien loans, mezzanine debt and equity co-investments. The company targets established businesses across a diverse range of industries, including healthcare, industrials, consumer products and business services.

The company is sponsored and managed by Barings LLC, a global investment manager and subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual).