Goldman Sachs BDC Inc. (GSBD) Downgraded by Goldman Sachs Group Inc. to “Neutral”
A number of other research firms also recently weighed in on GSBD. National Securities downgraded shares of Goldman Sachs BDC from a buy rating to a neutral rating and set a $23.00 target price for the company. in a research report on Monday. Zacks Investment Research downgraded shares of Goldman Sachs BDC from a hold rating to a sell rating in a research report on Tuesday, August 9th. Bank of America Corp. downgraded shares of Goldman Sachs BDC from a neutral rating to an underperform rating and set a $20.50 target price for the company. in a research report on Thursday, November 3rd. Finally, Citigroup Inc. increased their target price on shares of Goldman Sachs BDC from $21.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, October 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $22.08.
Shares of Goldman Sachs BDC (NYSE:GSBD) opened at 22.98 on Monday. The stock has a 50 day moving average of $21.95 and a 200-day moving average of $20.94. Goldman Sachs BDC has a 52-week low of $16.66 and a 52-week high of $23.00.
Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.01. Goldman Sachs BDC had a net margin of 28.66% and a return on equity of 11.88%. The business earned $33.95 million during the quarter, compared to the consensus estimate of $26.37 million. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts expect that Goldman Sachs BDC will post $2.10 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Saturday, December 31st will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.83%. The ex-dividend date is Wednesday, December 28th. Goldman Sachs BDC’s payout ratio is currently 181.82%.
In other Goldman Sachs BDC news, Director Jaime Ardila purchased 4,683 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were bought at an average cost of $21.52 per share, for a total transaction of $100,778.16. Following the purchase, the director now owns 4,683 shares of the company’s stock, valued at approximately $100,778.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.35% of the company’s stock.
A number of hedge funds have recently bought and sold shares of GSBD. Starfire Investment Advisers Inc. purchased a new stake in Goldman Sachs BDC during the second quarter valued at about $248,000. Creative Planning purchased a new stake in Goldman Sachs BDC during the third quarter valued at about $112,000. BB&T Securities LLC purchased a new stake in Goldman Sachs BDC during the third quarter valued at about $202,000. PineBridge Investments L.P. boosted its stake in Goldman Sachs BDC by 133.9% in the second quarter. PineBridge Investments L.P. now owns 9,334 shares of the company’s stock valued at $187,000 after buying an additional 5,344 shares in the last quarter. Finally, National Asset Management Inc. purchased a new stake in Goldman Sachs BDC during the second quarter valued at about $263,000. Institutional investors and hedge funds own 33.48% of the company’s stock.
Goldman Sachs BDC Company Profile
Goldman Sachs BDC, Inc, formerly Goldman Sachs Liberty Harbor Capital, LLC, is a closed-end management investment company. The Company is focused on lending to middle-market companies. Its investment objective is to generate current income and capital appreciation through direct originations of secured debt, including first lien, first lien/last-out unitranche and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.
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