Callodine Capital Management LP Sells 96,544 Shares of Barings Bdc, Inc. $BBDC

Callodine Capital Management LP reduced its stake in Barings Bdc, Inc. (NYSE:BBDC) by 27.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 260,000 shares of the company’s stock after selling 96,544 shares during the quarter. Callodine Capital Management LP owned approximately 0.25% of Barings Bdc worth $2,140,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Focus Partners Wealth bought a new stake in shares of Barings Bdc in the 4th quarter worth $9,207,000. Private Management Group Inc. lifted its position in shares of Barings Bdc by 14.6% during the fourth quarter. Private Management Group Inc. now owns 3,765,629 shares of the company’s stock valued at $34,568,000 after purchasing an additional 481,172 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Barings Bdc during the fourth quarter valued at about $2,767,000. GraniteShares Advisors LLC purchased a new position in Barings Bdc during the fourth quarter worth about $2,742,000. Finally, UBS Group AG grew its position in Barings Bdc by 23.6% in the 4th quarter. UBS Group AG now owns 1,493,751 shares of the company’s stock worth $13,713,000 after purchasing an additional 285,272 shares in the last quarter. 44.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Barings Bdc

In other news, CEO Thomas Mcdonnell bought 10,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average cost of $8.27 per share, with a total value of $82,700.00. Following the completion of the transaction, the chief executive officer directly owned 26,000 shares of the company’s stock, valued at $215,020. This represents a 62.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BBDC shares. Zacks Research lowered shares of Barings Bdc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings lowered Barings Bdc from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. Finally, Lucid Cap Mkts raised Barings Bdc to a “hold” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Barings Bdc Stock Performance

Shares of BBDC stock opened at $8.25 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $864.07 million, a price-to-earnings ratio of 9.71 and a beta of 0.58. Barings Bdc, Inc. has a 52 week low of $7.96 and a 52 week high of $9.92. The firm’s 50-day simple moving average is $8.44 and its two-hundred day simple moving average is $8.65.

Barings Bdc (NYSE:BBDC) last released its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. The firm had revenue of $54.66 million during the quarter, compared to the consensus estimate of $62.54 million. Barings Bdc had a net margin of 32.45% and a return on equity of 10.08%. During the same period in the prior year, the firm earned $0.25 EPS. As a group, equities analysts forecast that Barings Bdc, Inc. will post 1 earnings per share for the current year.

Barings Bdc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, June 3rd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 12.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. Barings Bdc’s dividend payout ratio is 122.35%.

Barings Bdc Company Profile

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).