SCS Capital Management LLC Acquires New Shares in Golub Capital BDC, Inc. $GBDC

SCS Capital Management LLC acquired a new position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 72,372 shares of the investment management company’s stock, valued at approximately $932,000.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Golub Capital BDC by 41.4% in the first quarter. Royal Bank of Canada now owns 131,544 shares of the investment management company’s stock worth $1,991,000 after buying an additional 38,534 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Golub Capital BDC by 19.7% in the first quarter. NewEdge Advisors LLC now owns 43,534 shares of the investment management company’s stock valued at $659,000 after acquiring an additional 7,178 shares during the period. Empowered Funds LLC grew its stake in Golub Capital BDC by 140.0% during the first quarter. Empowered Funds LLC now owns 27,411 shares of the investment management company’s stock valued at $415,000 after acquiring an additional 15,988 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Golub Capital BDC during the first quarter valued at approximately $6,491,000. Finally, Focus Partners Wealth increased its holdings in Golub Capital BDC by 24.9% during the 1st quarter. Focus Partners Wealth now owns 33,355 shares of the investment management company’s stock worth $505,000 after acquiring an additional 6,658 shares during the period. Institutional investors own 42.38% of the company’s stock.

Insider Activity

In related news, Director Lawrence E. Golub sold 1,676,387 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $13.06, for a total value of $21,893,614.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Golub Capital BDC Stock Performance

Shares of GBDC opened at $13.26 on Monday. The firm’s 50 day simple moving average is $12.89 and its 200 day simple moving average is $12.83. The company has a market capitalization of $3.44 billion, a P/E ratio of 20.40 and a beta of 0.39. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.33 and a quick ratio of 1.33. Golub Capital BDC, Inc. has a 1-year low of $11.77 and a 1-year high of $14.93.

Golub Capital BDC (NASDAQ:GBDC) last announced its earnings results on Monday, August 3rd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Golub Capital BDC had a net margin of 21.45% and a return on equity of 9.91%. The business had revenue of $98.53 million during the quarter, compared to analyst estimates of $189.91 million. During the same period in the previous year, the business posted $0.39 earnings per share. Sell-side analysts forecast that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current fiscal year.

Golub Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend is Monday, September 14th. Golub Capital BDC’s payout ratio is currently 203.08%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GBDC. Keefe, Bruyette & Woods lowered their target price on shares of Golub Capital BDC from $14.00 to $13.50 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Golub Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada decreased their price target on shares of Golub Capital BDC from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Oppenheimer reiterated an “outperform” rating and issued a $14.00 price objective on shares of Golub Capital BDC in a research report on Wednesday, May 6th. Finally, Zacks Research raised Golub Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Golub Capital BDC has a consensus rating of “Moderate Buy” and a consensus target price of $13.90.

Golub Capital BDC Profile

Golub Capital BDC (NASDAQ: GBDC) is a publicly traded business development company specializing in providing debt and equity financing solutions to middle-market companies in the United States. Externally managed by Golub Capital LLC, the firm focuses on building a diversified portfolio of senior secured loans, unitranche facilities and second-lien debt instruments designed to support growth, acquisitions and recapitalizations. As a closed-end investment vehicle, GBDC offers investors direct exposure to private credit strategies within a regulated structure.

The company’s core business activities center on originating and managing bespoke financing arrangements for U.S.