Barings BDC, Inc. (NYSE:BBDC – Get Rating) was the target of a significant drop in short interest in July. On July 31, short interest totaled 956,400 shares, down 18.9% from the July 15 total of 1,180,000 shares. Based on an average daily trading volume of 552,800 shares, the days-to-cover ratio is currently 1.7 days.
Analyst upgrades and downgrades
Several equity analysts recently rated BBDC shares. Raymond James downgraded Barings BDC from a “strong-buy” rating to an “outperform” rating in a research note on Thursday and lowered the price target on the stock to $11.50 from $12.50. Wells Fargo & Company cut its target price on Barings BDC to $12.50 from $13.00 and rated the company as “overweight” in a research report on Monday, April 25. Finally, TheStreet Barings upgraded BDC from a “c” rating to a “b” rating in a research report on Wednesday 25th May.
Barings BDC price performance
NYSE BBDC shares opened at $10.40 on Friday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 24.76 and a beta of 0.60. Barings BDC has a 52-week low of $9.18 and a 52-week high of $11.55. The company’s 50-day moving average price is $9.67 and its 200-day moving average price is $10.22. The company has a current ratio of 0.39, a quick ratio of 0.27 and a debt to equity ratio of 0.65.
Barings BDC (NYSE:BBDC – Get Rating) last reported its quarterly earnings results on Tuesday, August 9th. The company reported earnings per share (EPS) of $0.22 for the quarter, beating the consensus estimate of $0.24 ($0.02). The company had revenue of $55.59 million for the quarter, compared to analyst estimates of $50.94 million. Barings BDC had a return on equity of 7.97% and a net margin of 12.83%. Barings BDC’s quarterly revenue rose 67.7% year-on-year. During the same period last year, the company earned $0.22 per share. As a group, research analysts forecast Barings BDC to report 1 earnings per share for the current fiscal year.
Barings BDC announces dividend
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Wednesday, September 7 will receive a dividend of $0.24. The ex-dividend date of this dividend is Tuesday September 6th. That equates to an annual dividend of $0.96 and a yield of 9.23%. Barings BDC’s payout percentage is 228.57%.
Institutional inflows and outflows
Several hedge funds have recently bought and sold shares of BBDC. Ares Management LLC increased its position in shares of Barings BDC by 13.1% in the first quarter. Ares Management LLC now owns 5,350,155 shares of the company’s stock valued at $55,321,000 after purchasing an additional 619,503 shares last quarter. Rivernorth Capital Management LLC increased its position in shares of Barings BDC by 80.1% in the first quarter. Rivernorth Capital Management LLC now owns 2,371,569 shares of the company’s stock valued at $24,522,000 after purchasing an additional 1,054,657 shares last quarter. Wells Fargo & Company MN increased its position in shares of Barings BDC by 37.2% in the second quarter. Wells Fargo & Company MN now owns 1,502,222 shares of the company’s stock valued at $13,986,000 after purchasing an additional 407,203 shares last quarter. Cliffwater LLC increased its position in Barings BDC shares by 7.9% in the first quarter. Cliffwater LLC now owns 1,413,893 shares of the company’s stock valued at $14,620,000 after purchasing an additional 103,274 shares last quarter. Finally, Van ECK Associates Corp increased its position in shares of Barings BDC by 18.7% in the second quarter. Van ECK Associates Corp now owns 1,399,960 shares of the company’s stock valued at $13,034,000 after purchasing an additional 220,754 shares last quarter. Hedge funds and other institutional investors own 66.03% of the company’s shares.
About Barings BDC
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 Company Act of 1940. It intends to invest primarily in senior secured loans, first liens, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private mid-cap companies engaged in a variety of industries .
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