Short Interest in Barings BDC Inc (NYSE:BBDC) Drops By 39.6%

Barings BDC Inc (NYSE:BBDC) was the recipient of a large decline in short interest in the month of March. As of March 13th, there was short interest totalling 242,600 shares, a decline of 39.6% from the February 27th total of 401,800 shares. Based on an average daily trading volume, of 139,800 shares, the short-interest ratio is currently 1.7 days. Approximately 0.5% of the company’s stock are short sold.

Several research firms recently issued reports on BBDC. National Securities raised shares of Barings BDC from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 17th. Zacks Investment Research downgraded shares of Barings BDC from a “buy” rating to a “hold” rating in a research note on Wednesday, March 4th. TheStreet raised shares of Barings BDC from a “d+” rating to a “c-” rating in a research note on Friday, November 29th. ValuEngine downgraded shares of Barings BDC from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Co dropped their price target on shares of Barings BDC from $11.00 to $7.25 and set an “overweight” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $9.42.

BBDC stock traded up $0.85 during mid-day trading on Thursday, hitting $7.45. 482,450 shares of the company were exchanged, compared to its average volume of 208,982. The company has a market capitalization of $310.69 million, a PE ratio of 6.48 and a beta of 0.66. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 1.17. Barings BDC has a twelve month low of $4.67 and a twelve month high of $10.59. The firm has a fifty day simple moving average of $9.18 and a 200 day simple moving average of $10.00.

Barings BDC (NYSE:BBDC) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The company had revenue of $18.40 million for the quarter, compared to analyst estimates of $19.08 million. Barings BDC had a return on equity of 5.29% and a net margin of 76.92%. As a group, sell-side analysts anticipate that Barings BDC will post 0.7 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 11th were issued a dividend of $0.16 per share. This is a positive change from Barings BDC’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 8.59%. The ex-dividend date of this dividend was Tuesday, March 10th. Barings BDC’s dividend payout ratio (DPR) is currently 104.92%.

In other news, CEO Eric J. Lloyd purchased 14,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average price of $8.22 per share, with a total value of $115,080.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jonathan Bock purchased 5,875 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $8.32 per share, for a total transaction of $48,880.00. Following the purchase, the chief financial officer now directly owns 22,075 shares in the company, valued at $183,664. The disclosure for this purchase can be found here. Insiders have purchased a total of 22,625 shares of company stock worth $186,318 in the last ninety days. 0.19% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in BBDC. Tower Research Capital LLC TRC grew its holdings in Barings BDC by 380.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,514 shares of the company’s stock worth $36,000 after acquiring an additional 2,782 shares in the last quarter. Baldwin Brothers Inc. MA acquired a new position in Barings BDC during the 4th quarter worth $102,000. Russell Investments Group Ltd. acquired a new position in Barings BDC during the 4th quarter worth $115,000. Aigen Investment Management LP acquired a new position in Barings BDC during the 4th quarter worth $131,000. Finally, Victory Capital Management Inc. grew its holdings in Barings BDC by 61.9% during the 4th quarter. Victory Capital Management Inc. now owns 14,775 shares of the company’s stock worth $152,000 after acquiring an additional 5,648 shares in the last quarter. 73.45% of the stock is owned by institutional investors.

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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