Goldman Sachs BDC (NYSE:GSBD) Sets New 1-Year Low – What’s Next?

Goldman Sachs BDC, Inc. (NYSE:GSBD)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.80 and last traded at $8.77, with a volume of 9625 shares. The stock had previously closed at $9.04.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GSBD. Truist Financial cut their price target on shares of Goldman Sachs BDC from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. Weiss Ratings upgraded Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, March 5th. The Goldman Sachs Group assumed coverage on Goldman Sachs BDC in a report on Monday, December 15th. They set a “neutral” rating and a $10.50 price objective for the company. Lucid Cap Mkts raised Goldman Sachs BDC to a “hold” rating in a report on Monday, December 15th. Finally, Wall Street Zen upgraded shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $9.50.

Goldman Sachs BDC Price Performance

The company has a fifty day moving average price of $9.25 and a two-hundred day moving average price of $9.67. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.32. The firm has a market cap of $983.41 million, a P/E ratio of 8.42 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Friday, February 27th. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Goldman Sachs BDC had a net margin of 32.62% and a return on equity of 12.23%. The company had revenue of $38.79 million during the quarter, compared to analysts’ expectations of $87.18 million. Equities analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.7%. The ex-dividend date is Tuesday, March 31st. Goldman Sachs BDC’s payout ratio is 123.08%.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of large investors have recently bought and sold shares of GSBD. ORG Partners LLC bought a new position in shares of Goldman Sachs BDC during the 4th quarter worth approximately $33,000. CWM LLC grew its position in Goldman Sachs BDC by 187.8% in the third quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 3,174 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Goldman Sachs BDC in the 3rd quarter valued at $51,000. Kestra Advisory Services LLC acquired a new stake in Goldman Sachs BDC in the 4th quarter valued at $57,000. Finally, Quantbot Technologies LP bought a new stake in Goldman Sachs BDC during the 2nd quarter worth about $62,000. Institutional investors and hedge funds own 28.72% of the company’s stock.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc (NYSE: GSBD) is an externally managed, closed-end, non-diversified management investment company organized as a business development company (BDC) under the U.S. Investment Company Act of 1940. The company’s primary objective is to generate current income and capital appreciation through debt and equity investments in U.S. middle-market companies. It principally invests in senior secured loans, mezzanine debt, preferred equity and, to a lesser extent, common equity, focusing on sponsor-backed transactions and special-situation financings.

The fund is advised by affiliates of Goldman Sachs Asset Management’s Private Credit Group, leveraging the firm’s global research capabilities and risk management infrastructure.