Zacks Investment Research upgraded shares of Barings BDC (NYSE:BBDC) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $11.00 price objective on the stock.
According to Zacks, “Barings BDC, Inc. is an externally managed business development company which primarily makes debt investments in middle market companies. The company is primarily managed by Barings, LLC, a premier global asset manager. Barings BDC Inc., formerly known as TRIANGLE CAPITAL CORPORATION, is based in Charlotte, United States. “
Separately, National Securities reaffirmed a sell rating and set a $4.00 price objective on shares of Prospect Capital in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Barings BDC has an average rating of Buy and a consensus target price of $11.15.
Barings BDC (NYSE:BBDC) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The business had revenue of $18.34 million for the quarter, compared to the consensus estimate of $18.02 million. Barings BDC had a negative net margin of 131.87% and a negative return on equity of 0.80%. On average, research analysts anticipate that Barings BDC will post 0.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 12th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 5.28%. This is an increase from Barings BDC’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, June 11th.
Large investors have recently bought and sold shares of the company. Confluence Investment Management LLC lifted its stake in shares of Barings BDC by 1.0% in the first quarter. Confluence Investment Management LLC now owns 1,021,687 shares of the company’s stock worth $10,023,000 after buying an additional 9,621 shares in the last quarter. Mckinley Capital Management LLC Delaware lifted its stake in shares of Barings BDC by 1.2% in the first quarter. Mckinley Capital Management LLC Delaware now owns 243,079 shares of the company’s stock worth $2,385,000 after buying an additional 2,999 shares in the last quarter. Relative Value Partners Group LLC lifted its stake in shares of Barings BDC by 5.5% in the first quarter. Relative Value Partners Group LLC now owns 966,962 shares of the company’s stock worth $9,486,000 after buying an additional 50,336 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of Barings BDC in the first quarter worth about $439,000. Finally, Legal & General Group Plc lifted its stake in shares of Barings BDC by 28.4% in the fourth quarter. Legal & General Group Plc now owns 238,450 shares of the company’s stock worth $2,152,000 after buying an additional 52,716 shares in the last quarter. 40.55% of the stock is currently owned by hedge funds and other institutional investors.
Barings BDC Company Profile
Barings BDC, Inc (NYSE:BBDC) is a business development company specializing in private equity and mezzanine investments. It focuses on leveraged buyouts, management buyouts, ESOPs, change of control transactions, acquisition financings, growth financing, and recapitalizations in lower middle market, mature, and later stage companies.
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