Barings BDC (NYSE:BBDC) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Barings BDC (NYSE:BBDC) from a hold rating to a buy rating in a research note 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 restated a sell rating and issued a $4.00 price objective on shares of Prospect Capital in a report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $11.15.
Barings BDC (NYSE:BBDC) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $18.34 million during the quarter, compared to analysts’ expectations of $18.02 million. Barings BDC had a negative net margin of 131.87% and a negative return on equity of 0.80%. As a group, equities research analysts predict that Barings BDC will post 0.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 12th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.28%. This is a boost from Barings BDC’s previous quarterly dividend of $0.12.
Several hedge funds have recently made changes to their positions in the stock. Clearbridge Investments LLC acquired a new position in shares of Barings BDC in the first quarter valued at approximately $2,531,000. Punch & Associates Investment Management Inc. grew its holdings in shares of Barings BDC by 33.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,739,254 shares of the company’s stock valued at $17,062,000 after purchasing an additional 439,585 shares in the last quarter. Relative Value Partners Group LLC grew its holdings 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 valued at $9,486,000 after purchasing an additional 50,336 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Barings BDC by 162.9% in the first quarter. TCW Group Inc. now owns 67,836 shares of the company’s stock valued at $665,000 after purchasing an additional 42,036 shares in the last quarter. Finally, Alphasimplex Group LLC acquired a new position in shares of Barings BDC in the first quarter valued at approximately $613,000. Hedge funds and other institutional investors own 40.55% of the company’s stock.
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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