Zacks Investment Research upgraded shares of Barings BDC (NASDAQ:BBDC) from a sell rating to a hold rating in a research note released on Tuesday.
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, Raymond James raised shares of Barings BDC from an underperform rating to an outperform rating in a research note on Tuesday, September 11th.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 14th will be paid a dividend of $0.10 per share. This is an increase from Barings BDC’s previous quarterly dividend of $0.03. This represents a $0.40 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, December 13th.
In other news, Treasurer Christopher Cary bought 6,000 shares of the business’s stock in a transaction on Friday, September 28th. The shares were bought at an average cost of $10.01 per share, with a total value of $60,060.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Barings Llc bought 75,079 shares of the business’s stock in a transaction on Friday, September 28th. The shares were purchased at an average cost of $10.02 per share, for a total transaction of $752,291.58. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,170,689 shares of company stock worth $11,825,108.
Large investors have recently made changes to their positions in the business. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Barings BDC during the 3rd quarter valued at $101,000. BB&T Corp purchased a new position in shares of Barings BDC during the 3rd quarter valued at $110,000. CIBC World Markets Inc. purchased a new position in shares of Barings BDC during the 3rd quarter valued at $127,000. LPL Financial LLC purchased a new position in shares of Barings BDC during the 3rd quarter valued at $140,000. Finally, Great West Life Assurance Co. Can purchased a new position in shares of Barings BDC during the 3rd quarter valued at $152,000.
Barings BDC Company Profile
Triangle Capital Corp. engages in the provision of customized financing primarily to lower middle market companies. Its investment objective is to seek returns by generating current income from our debt investments, and capital appreciation from our equity-related investments. Its portfolio includes Aden and Anais, AGM Automotive, All Metals, American Silk, Avantor Performance Materials, and others.
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