Ehrenkranz Partners L.P. Makes New Investment in Golub Capital BDC, Inc. $GBDC

Ehrenkranz Partners L.P. bought a new position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 55,791 shares of the investment management company’s stock, valued at approximately $764,000. Golub Capital BDC accounts for 0.7% of Ehrenkranz Partners L.P.’s portfolio, making the stock its 19th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ausdal Financial Partners Inc. boosted its position in shares of Golub Capital BDC by 46.9% during the third quarter. Ausdal Financial Partners Inc. now owns 17,573 shares of the investment management company’s stock worth $241,000 after purchasing an additional 5,612 shares in the last quarter. Bank of America Corp DE boosted its stake in Golub Capital BDC by 5.7% in the 3rd quarter. Bank of America Corp DE now owns 3,829,788 shares of the investment management company’s stock worth $52,430,000 after purchasing an additional 207,998 shares during the period. Anchor Investment Management LLC boosted its stake in Golub Capital BDC by 1.8% in the 3rd quarter. Anchor Investment Management LLC now owns 285,575 shares of the investment management company’s stock worth $3,910,000 after purchasing an additional 5,140 shares during the period. Aquatic Capital Management LLC bought a new position in Golub Capital BDC during the 3rd quarter worth about $714,000. Finally, Ameriprise Financial Inc. increased its holdings in Golub Capital BDC by 14.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 73,496 shares of the investment management company’s stock worth $1,006,000 after purchasing an additional 9,310 shares in the last quarter. Institutional investors own 42.38% of the company’s stock.

Golub Capital BDC Stock Performance

Shares of NASDAQ GBDC opened at $11.97 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.24 and a quick ratio of 2.24. The stock’s fifty day moving average price is $12.91 and its two-hundred day moving average price is $13.61. Golub Capital BDC, Inc. has a one year low of $11.77 and a one year high of $15.63. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 9.58 and a beta of 0.45.

Golub Capital BDC (NASDAQ:GBDC) last posted its earnings results on Wednesday, February 4th. The investment management company reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The company had revenue of $110.18 million during the quarter, compared to the consensus estimate of $208.89 million. Golub Capital BDC had a return on equity of 10.37% and a net margin of 38.57%.During the same quarter last year, the firm earned $0.42 earnings per share. On average, equities analysts forecast that Golub Capital BDC, Inc. will post 1.6 EPS for the current year.

Golub Capital BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 13th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend is Friday, March 13th. Golub Capital BDC’s dividend payout ratio (DPR) is currently 124.80%.

Analysts Set New Price Targets

A number of analysts have recently commented on GBDC shares. Wells Fargo & Company cut their price target on Golub Capital BDC from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Wall Street Zen downgraded Golub Capital BDC from a “hold” rating to a “sell” rating in a report on Sunday. Lucid Cap Mkts upgraded Golub Capital BDC to a “strong-buy” rating in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Golub Capital BDC in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Golub Capital BDC from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $14.38.

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.