Wells Fargo & Company Has Lowered Expectations for Golub Capital BDC (NASDAQ:GBDC) Stock Price

Golub Capital BDC (NASDAQ:GBDC) had its price target reduced by Wells Fargo & Company from $15.50 to $15.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the investment management company’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 1.96% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Golub Capital BDC from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and set a $17.00 price objective on shares of Golub Capital BDC in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded Golub Capital BDC from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.40.

Golub Capital BDC Stock Performance

Shares of GBDC stock opened at $15.30 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 5.01 and a current ratio of 5.01. The stock has a market cap of $2.62 billion, a PE ratio of 10.85 and a beta of 0.54. Golub Capital BDC has a 1 year low of $14.05 and a 1 year high of $17.72. The stock has a fifty day moving average price of $15.19 and a 200 day moving average price of $15.44.

Insider Buying and Selling at Golub Capital BDC

In related news, Chairman Lawrence E. Golub purchased 20,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were purchased at an average price of $15.04 per share, with a total value of $300,800.00. Following the transaction, the chairman now directly owns 1,898,880 shares of the company’s stock, valued at $28,559,155.20. This trade represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 80,000 shares of company stock worth $1,197,400. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Golub Capital BDC

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its holdings in Golub Capital BDC by 39.1% during the 1st quarter. BNP Paribas Financial Markets now owns 6,898 shares of the investment management company’s stock worth $115,000 after purchasing an additional 1,940 shares during the last quarter. ProShare Advisors LLC grew its position in Golub Capital BDC by 13.6% during the first quarter. ProShare Advisors LLC now owns 23,948 shares of the investment management company’s stock valued at $398,000 after buying an additional 2,867 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Golub Capital BDC by 6.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 161,639 shares of the investment management company’s stock worth $2,692,000 after buying an additional 9,145 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Golub Capital BDC by 13.9% in the first quarter. Advisors Asset Management Inc. now owns 114,104 shares of the investment management company’s stock valued at $1,898,000 after purchasing an additional 13,901 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in Golub Capital BDC by 83.9% in the 1st quarter. Quadrature Capital Ltd now owns 44,483 shares of the investment management company’s stock worth $740,000 after purchasing an additional 20,295 shares during the period. Institutional investors and hedge funds own 42.38% of the company’s stock.

About Golub Capital BDC

Golub Capital BDC, Inc (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors.