Mackenzie Financial Corp lowered its stake in shares of Barings BDC, Inc. (NYSE:BBDC – Get Rating) by 37.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 79,150 shares of the company’s stock after selling 47,397 shares during the quarter. Mackenzie Financial Corp’s holdings in Barings BDC were worth $737,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Ares Management LLC increased its holdings in shares of Barings BDC by 13.1% during the first quarter. Ares Management LLC now owns 5,350,155 shares of the company’s stock valued at $55,321,000 after acquiring an additional 619,503 shares in the last quarter. Rivernorth Capital Management LLC increased its holdings in Barings BDC by 80.1% in the 1st quarter. Rivernorth Capital Management LLC now owns 2,371,569 shares of the company’s stock worth $24,522,000 after buying an additional 1,054,657 shares during the period. Cliffwater LLC increased its holdings in Barings BDC by 7.9% in the 1st quarter. Cliffwater LLC now owns 1,413,893 shares of the company’s stock worth $14,620,000 after buying an additional 103,274 shares during the period. Van ECK Associates Corp increased its holdings in Barings BDC by 18.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,399,960 shares of the company’s stock worth $13,034,000 after buying an additional 220,754 shares during the period. Finally, Advisor Group Holdings Inc. increased its holdings in Barings BDC by 7,294.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 705,981 shares of the company’s stock worth $7,613,000 after buying an additional 696,434 shares during the period. Institutional investors and hedge funds own 48.53% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently weighed in on BBDC shares. Wells Fargo & Company increased their price target on shares of Barings BDC from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Monday, November 14th. Keefe, Bruyette & Woods lowered Barings BDC from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $10.50 to $10.00 in a research report on Monday, November 14th. Raymond James decreased their target price on Barings BDC from $11.50 to $11.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, TheStreet lowered Barings BDC from a “b” rating to a “c” rating in a report on Monday, August 22nd.
Barings BDC Stock Down 1.5 %
Barings BDC Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, December 7th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.53%. The ex-dividend date is Tuesday, December 6th. Barings BDC’s dividend payout ratio (DPR) is presently 331.03%.
Barings BDC Company Profile
Barings BDC, Inc 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 seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries.
- Get a free copy of the StockNews.com research report on Barings BDC (BBDC)
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