Goldman Sachs BDC, Inc. (NYSE:GSBD) Given Average Rating of “Reduce” by Brokerages

Goldman Sachs BDC, Inc. (NYSE:GSBD) has been assigned an average recommendation of “Reduce” from the six brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.50.

Several equities research analysts recently weighed in on the stock. Truist Financial reduced 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 research report on Wednesday, March 4th. Wall Street Zen downgraded shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings raised shares of Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. Finally, Wells Fargo & Company cut their target price on shares of Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, March 2nd.

Goldman Sachs BDC Price Performance

Shares of GSBD opened at $8.77 on Tuesday. The company has a market capitalization of $986.68 million, a P/E ratio of 13.48 and a beta of 0.62. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average of $9.30 and a 200 day moving average of $9.45. Goldman Sachs BDC has a twelve month low of $8.66 and a twelve month high of $12.03.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). The firm had revenue of $10.35 million for the quarter, compared to the consensus estimate of $83.78 million. Goldman Sachs BDC had a net margin of 21.32% and a return on equity of 10.94%. As a group, equities research analysts anticipate that Goldman Sachs BDC will post 1.23 earnings per share for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 14.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Goldman Sachs BDC’s payout ratio is 196.92%.

Insider Buying and Selling

In related news, Director Carlos E. Evans bought 50,000 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was acquired at an average price of $9.02 per share, with a total value of $451,000.00. Following the transaction, the director owned 64,446 shares in the company, valued at approximately $581,302.92. This trade represents a 346.12% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Goldman Sachs BDC

A number of large investors have recently added to or reduced their stakes in GSBD. XTX Topco Ltd bought a new stake in Goldman Sachs BDC in the 2nd quarter worth approximately $194,000. Quantbot Technologies LP bought a new stake in Goldman Sachs BDC in the 2nd quarter worth approximately $62,000. Invesco Ltd. boosted its stake in shares of Goldman Sachs BDC by 6.1% during the 2nd quarter. Invesco Ltd. now owns 931,618 shares of the financial services provider’s stock worth $10,481,000 after acquiring an additional 53,678 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Goldman Sachs BDC during the 2nd quarter worth $1,832,000. Finally, Cresset Asset Management LLC boosted its stake in shares of Goldman Sachs BDC by 80.7% during the 2nd quarter. Cresset Asset Management LLC now owns 31,293 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 13,975 shares during the last quarter. Institutional investors 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.