Goldman Sachs BDC Inc. (GSBD) Downgraded by National Alliance Securities to “Neutral”
Goldman Sachs BDC Inc. (NYSE:GSBD) was downgraded by investment analysts at National Alliance Securities from a “buy” rating to a “neutral” rating in a report issued on Wednesday.
GSBD has been the subject of a number of other research reports. Citigroup Inc. boosted their target price on Goldman Sachs BDC from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, October 5th. National Securities restated a “buy” rating and set a $23.00 target price on shares of Goldman Sachs BDC in a research report on Monday, November 7th. Bank of America Corp. cut Goldman Sachs BDC from a “neutral” rating to an “underperform” rating and set a $20.50 price objective for the company. in a research note on Thursday, November 3rd. Zacks Investment Research raised Goldman Sachs BDC from a “sell” rating to a “hold” rating and set a $25.00 price objective for the company in a research note on Tuesday, November 8th. Finally, Goldman Sachs Group Inc. cut Goldman Sachs BDC from a “buy” rating to a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $22.08.
Shares of Goldman Sachs BDC (NYSE:GSBD) traded up 0.88% during midday trading on Wednesday, reaching $22.99. The company had a trading volume of 54,286 shares. The company’s 50-day moving average is $21.95 and its 200-day moving average is $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 released its earnings results on Thursday, November 3rd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The company earned $33.95 million during the quarter, compared to the consensus estimate of $26.37 million. Goldman Sachs BDC had a return on equity of 11.88% and a net margin of 28.66%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 earnings per share. Equities research analysts predict that Goldman Sachs BDC will post $2.10 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Saturday, December 31st will be paid a $0.45 dividend. The ex-dividend date is Wednesday, December 28th. This represents a $1.80 dividend on an annualized basis and a yield of 7.90%. Goldman Sachs BDC’s payout ratio is 181.82%.
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In other Goldman Sachs BDC news, Director Jaime Ardila bought 4,683 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was purchased at an average cost of $21.52 per share, with a total value of $100,778.16. Following the completion of the purchase, the director now owns 4,683 shares in the company, valued at $100,778.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Berson & Corrado Investment Advisors LLC boosted its position in Goldman Sachs BDC by 4.2% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 24,910 shares of the company’s stock worth $498,000 after buying an additional 1,000 shares during the last quarter. CIBC World Markets Inc. boosted its position in Goldman Sachs BDC by 156.8% in the second quarter. CIBC World Markets Inc. now owns 35,949 shares of the company’s stock worth $719,000 after buying an additional 21,948 shares during the last quarter. Confluence Investment Management LLC boosted its position in Goldman Sachs BDC by 30.1% in the second quarter. Confluence Investment Management LLC now owns 218,493 shares of the company’s stock worth $4,368,000 after buying an additional 50,514 shares during the last quarter. Muzinich & Co. Inc. boosted its position in Goldman Sachs BDC by 7.9% in the second quarter. Muzinich & Co. Inc. now owns 435,386 shares of the company’s stock worth $8,703,000 after buying an additional 31,976 shares during the last quarter. Finally, Starfire Investment Advisers Inc. acquired a new position in Goldman Sachs BDC during the second quarter worth about $248,000. 33.48% of the stock is owned by hedge funds and other institutional investors.
About Goldman Sachs BDC
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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