Insider Buying: Barings BDC, Inc. (NYSE: BBDC) Manager Buys 1,850 Shares
Barings BDC, Inc. (NYSE: BBDC – Get a rating) Director Stephen R. Byers bought 1,850 shares in a trade dated Friday, June 3. The shares were acquired at an average price of $10.38 per share, with a total value of $19,203.00. Following the completion of the purchase, the director now directly owns 17,885 shares of the company, valued at $185,646.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink.
Shares of BBDC traded up $0.03 midday on Monday, hitting $10.42. 5,712 shares of the company were traded, compared to its average volume of 557,058. The company’s 50-day moving average price is $10.37 and its 200-day moving average price is 10.66 $. The stock has a market capitalization of $1.16 billion, a P/E ratio of 9.45 and a beta of 0.57. The company has a debt ratio of 0.57, a quick ratio of 0.27 and a current ratio of 0.27. Barings BDC, Inc. has a 12-month low of $9.83 and a 12-month high of $11.55.
Barings BDC (NYSE: BBDC – Get a rating) last released its quarterly results on Friday, May 6. The company reported earnings per share of $0.23 for the quarter, meeting analyst consensus estimates of $0.23. Barings BDC achieved a return on equity of 7.17% and a net margin of 51.33%. In the same quarter of the previous year, the company achieved EPS of $0.22. Equity research analysts expect Barings BDC, Inc. to post EPS of 0.96 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15. Shareholders of record on Wednesday, June 8 will receive a dividend of $0.24 per share. This represents a dividend of $0.96 on an annualized basis and a dividend yield of 9.21%. The ex-dividend date is Tuesday, June 7. This is a boost from Barings BDC’s previous quarterly dividend of $0.23. Barings BDC’s payout ratio is 83.64%.
A number of large investors have recently changed their positions in BBDC. Royal Bank of Canada increased its holdings of Barings BDC shares by 8.7% in the third quarter. Royal Bank of Canada now owns 12,664 shares of the company valued at $140,000 after buying an additional 1,015 shares last quarter. JPMorgan Chase & Co. increased its position in Barings BDC by 26.7% during the fourth quarter. JPMorgan Chase & Co. now owns 6,091 shares of the company worth $67,000 after buying 1,285 additional shares in the last quarter. National Asset Management Inc. increased its position in Barings BDC by 12.9% during the fourth quarter. National Asset Management Inc. now owns 12,720 shares of the company worth $141,000 after purchasing an additional 1,450 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Barings BDC by 108.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 3,457 shares of the company worth $38,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Wedbush Securities Inc. increased its position in Barings BDC by 12.9% during the 1st quarter. Wedbush Securities Inc. now owns 21,935 shares of the company worth $227,000 after purchasing an additional 2,500 shares in the last quarter. 66.03% of the shares are currently held by hedge funds and other institutional investors.
A number of stock analysts have recently commented on the company. TheStreet upgraded Barings BDC from a ‘c’ to a ‘b’ rating in a Wednesday, May 25 research note. Wells Fargo & Company cut its price target on Barings BDC from $13.00 to $12.50 and set an “overweight” rating for the company in a Monday, April 25 research note. To finish, Zacks Investment Research upgraded Barings BDC from a “hold” rating to a “buy” rating and set a target price of $11.00 for the company in a Tuesday, May 10 research note. Five research analysts gave the stock a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, Barings BDC currently has an average rating of “Buy” and a consensus target price of $11.85.
About Barings BDC (Get a rating)
Barings BDC, Inc (NYSE: BBDC) is a publicly traded, externally managed investment company that has elected to be treated as a business development company under the Investment Companies Act of 1940. It seeks to invest primarily in senior secured loans, senior debt, unitranche, junior debt, subordinated debt, equity co-investments and senior secured private debt investments in private mid-market companies. who operate in a wide range of sectors.
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