Barings BDC (NYSE:BBDC) Rating Lowered to Hold at Zacks Investment Research

Barings BDC (NYSE:BBDC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

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 reissued a “sell” rating and set a $4.00 target price on shares of Prospect Capital in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $11.15.

NYSE BBDC traded down $0.08 during trading hours on Friday, reaching $9.85. 102,434 shares of the company’s stock were exchanged, compared to its average volume of 192,599. The business’s 50-day moving average price is $9.92. Barings BDC has a one year low of $8.70 and a one year high of $12.39. The company has a debt-to-equity ratio of 1.06, a quick ratio of 22.46 and a current ratio of 22.46.

Barings BDC (NYSE:BBDC) last posted its earnings results on Thursday, May 9th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Barings BDC had a negative return on equity of 0.80% and a negative net margin of 131.87%. The business had revenue of $18.34 million during the quarter, compared to analysts’ expectations of $18.02 million. On average, analysts predict that Barings BDC will post 0.68 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC bought a new stake in shares of Barings BDC in the 1st quarter worth approximately $2,531,000. Punch & Associates Investment Management Inc. lifted its holdings in shares of Barings BDC by 33.8% during the 1st 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 during the last quarter. Relative Value Partners Group LLC lifted its holdings in shares of Barings BDC by 5.5% during the 1st 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 during the last quarter. TCW Group Inc. lifted its holdings in shares of Barings BDC by 162.9% during the 1st 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 during the last quarter. Finally, Alphasimplex Group LLC purchased a new stake in shares of Barings BDC during the 1st quarter valued at $613,000. 40.55% of the stock is owned by institutional investors.

About Barings BDC

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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