Fintel reports that on August 11, 2023, Wells Fargo maintained coverage of Barings BDC (NYSE:BBDC) with a Overweight recommendation.
Analyst Price Forecast Suggests 6.93% Upside
As of August 2, 2023, the average one-year price target for Barings BDC is 9.58. The forecasts range from a low of 7.83 to a high of $11.55. The average price target represents an increase of 6.93% from its latest reported closing price of 8.96.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Barings BDC is 269MM, an increase of 2.53%. The projected annual non-GAAP EPS is 1.14.
What is the Fund Sentiment?
There are 242 funds or institutions reporting positions in Barings BDC. This is a decrease of 5 owner(s) or 2.02% in the last quarter. Average portfolio weight of all funds dedicated to BBDC is 0.24%, an increase of 8.68%. Total shares owned by institutions decreased in the last three months by 0.71% to 61,089K shares. 
The put/call ratio of BBDC is 0.92, indicating a bullish outlook.
What are Other Shareholders Doing?
Barings holds 13,640K shares. No change in the last quarter.
Rivernorth Capital Management holds 4,582K shares. In it's prior filing, the firm reported owning 4,713K shares, representing a decrease of 2.87%. The firm increased its portfolio allocation in BBDC by 1.78% over the last quarter.
Ares Management holds 4,380K shares. In it's prior filing, the firm reported owning 4,805K shares, representing a decrease of 9.69%. The firm increased its portfolio allocation in BBDC by 0.65% over the last quarter.
Private Management Group holds 2,953K shares. In it's prior filing, the firm reported owning 2,359K shares, representing an increase of 20.11%. The firm increased its portfolio allocation in BBDC by 16.47% over the last quarter.
Callodine Capital Management holds 2,249K shares. In it's prior filing, the firm reported owning 2,210K shares, representing an increase of 1.76%. The firm decreased its portfolio allocation in BBDC by 1.74% over the last quarter.
Barings BDC Background Information
(This description is provided by the company.)
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. Barings BDC seeks to invest primarily in senior secured loans to private U.S. middle market companies that operate across a wide range of industries. Barings BDC's investment activities are managed by its investment adviser, Barings LLC, a leading global asset manager based in Charlotte, NC with $345 billion* of AUM firm-wide.
Additional reading:
- Press Release, dated
- Statement of Eligibility of Trustee on Form T-1*
- Third Amended and Restated Investment Advisory Agreement, dated June 24, 2023, by and between Barings BDC, Inc. and Barings LLC
- Rule 17j-1 Code of Ethics*
- Amendment No. 4 to Senior Secured Revolving Credit Agreement, dated as of May 9, 2023, by and among Barings BDC, Inc., the subsidiary guarantors party thereto, the lenders party thereto and ING Capital LLC, as administrative agent (Filed as Exhibits 10.1 to the Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 15, 2023 and incorporated herein by reference)
This story originally appeared on Fintel.
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