Barings Bdc (NYSE:BBDC) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Barings Bdc, Inc. (NYSE:BBDC) crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $8.68 and traded as high as $8.74. Barings Bdc shares last traded at $8.7350, with a volume of 387,252 shares traded.

Analysts Set New Price Targets

BBDC has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Barings Bdc from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings downgraded shares of Barings Bdc from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. Wells Fargo & Company boosted their target price on Barings Bdc from $9.50 to $10.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Finally, Raymond James Financial set a $9.00 price target on Barings Bdc in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Barings Bdc Stock Down 1.0%

The business has a 50-day simple moving average of $8.75 and a 200-day simple moving average of $8.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market cap of $903.23 million, a price-to-earnings ratio of 10.39 and a beta of 0.64.

Barings Bdc (NYSE:BBDC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Barings Bdc had a net margin of 32.73% and a return on equity of 10.07%. The business had revenue of $54.58 million for the quarter, compared to analyst estimates of $60.10 million. During the same period last year, the business earned $0.28 EPS. On average, equities analysts anticipate that Barings Bdc, Inc. will post 1.04 earnings per share for the current fiscal year.

Barings Bdc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, September 2nd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend was Wednesday, September 2nd. Barings Bdc’s dividend payout ratio (DPR) is 125.30%.

Hedge Funds Weigh In On Barings Bdc

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE purchased a new position in Barings Bdc during the second quarter worth about $5,885,000. Rivernorth Capital Management LLC purchased a new stake in Barings Bdc in the 2nd quarter valued at approximately $1,748,000. BlackRock Inc. purchased a new stake in Barings Bdc in the 2nd quarter valued at approximately $4,339,000. Legal & General Group Plc acquired a new position in Barings Bdc during the 2nd quarter worth approximately $7,483,000. Finally, Van ECK Associates Corp increased its position in Barings Bdc by 26.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,309,564 shares of the company’s stock worth $19,677,000 after purchasing an additional 484,649 shares during the period. Institutional investors and hedge funds own 44.09% of the company’s stock.

Barings Bdc Company Profile

Barings BDC, Inc (NYSE:BBDC) is a business development company that provides financing to privately owned, middle-market businesses. The company seeks to support companies across a range of industries by investing in their debt and equity securities.

Barings BDC primarily invests in senior secured loans, including first-lien and second-lien debt, as well as subordinated debt and selected equity investments. Its portfolio companies are generally based in the United States and may use the financing for acquisitions, recapitalizations, refinancing, growth initiatives, and other corporate purposes.

The company was formerly known as Triangle Capital Corporation and adopted the Barings BDC name following a change in its investment management arrangements.