Confluence Investment Management LLC increased its position in shares of Barings BDC Inc (NYSE:BBDC) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,021,687 shares of the company’s stock after buying an additional 9,621 shares during the quarter. Confluence Investment Management LLC owned 1.99% of Barings BDC worth $10,023,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bulldog Investors LLC bought a new position in shares of Barings BDC in the third quarter valued at approximately $7,928,000. Legal & General Group Plc bought a new position in shares of Barings BDC in the third quarter valued at approximately $1,860,000. BW Gestao de Investimentos Ltda. bought a new position in shares of Barings BDC in the third quarter valued at approximately $451,000. Virtu Financial LLC bought a new position in shares of Barings BDC in the fourth quarter valued at approximately $203,000. Finally, Joel Isaacson & Co. LLC bought a new position in shares of Barings BDC in the fourth quarter valued at approximately $145,000. 66.00% of the stock is currently owned by institutional investors and hedge funds.
NYSE:BBDC opened at $9.90 on Wednesday. Barings BDC Inc has a 1 year low of $8.70 and a 1 year high of $12.39. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $506.17 million, a PE ratio of 197.40, a PEG ratio of 2.87 and a beta of 0.79.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 13th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.85%. The ex-dividend date was Tuesday, March 12th. This is a boost from Barings BDC’s previous quarterly dividend of $0.10.
In related news, insider Barings Llc acquired 47,400 shares of the company’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was purchased at an average price of $9.60 per share, for a total transaction of $455,040.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan Landsberg acquired 3,040 shares of the company’s stock in a transaction that occurred on Friday, March 29th. The stock was bought at an average price of $9.92 per share, with a total value of $30,156.80. The disclosure for this purchase can be found here. Insiders purchased a total of 289,577 shares of company stock valued at $2,819,645 in the last 90 days. 0.29% of the stock is currently owned by corporate insiders.
A number of research analysts have recently issued reports on BBDC shares. National Securities upgraded shares of Barings BDC from a “neutral” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Monday, March 4th. Wells Fargo & Co started coverage on shares of Barings BDC in a research note on Monday, March 11th. They issued an “outperform” rating and a $11.00 target price for the company. Zacks Investment Research cut shares of Barings BDC from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Compass Point started coverage on shares of Barings BDC in a research note on Monday, February 4th. They issued a “neutral” rating for the company. Finally, ValuEngine cut shares of Barings BDC from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $11.20.
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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