Goldman Sachs BDC (NYSE:GSBD) Stock Rating Upgraded by Zacks Research

Goldman Sachs BDC (NYSE:GSBD) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

GSBD has been the topic of several other research reports. Bank of America reissued an “underperform” rating and set a $8.50 target price (down from $9.00) on shares of Goldman Sachs BDC in a research report on Thursday, July 9th. The Goldman Sachs Group lowered Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 target price for the company. in a report on Thursday, July 9th. Wall Street Zen raised Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Friday, August 28th. Finally, Truist Financial upped their price objective on Goldman Sachs BDC from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $8.75.

Goldman Sachs BDC Stock Performance

Shares of GSBD stock opened at $9.09 on Tuesday. The firm has a 50-day moving average of $9.57 and a 200-day moving average of $9.33. The company has a market cap of $1.02 billion, a P/E ratio of 17.48 and a beta of 0.60. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.69 and a quick ratio of 0.69. Goldman Sachs BDC has a one year low of $8.35 and a one year high of $10.38.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. Goldman Sachs BDC had a net margin of 17.19% and a return on equity of 11.04%. The business had revenue of $35.08 million for the quarter, compared to analysts’ expectations of $78.89 million. Equities research analysts forecast that Goldman Sachs BDC will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Goldman Sachs BDC

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of Goldman Sachs BDC by 1.2% in the 1st quarter. Bank of America Corp DE now owns 997,570 shares of the financial services provider’s stock worth $8,858,000 after purchasing an additional 11,915 shares during the period. Legal & General Group Plc grew its holdings in Goldman Sachs BDC by 12.0% during the fourth quarter. Legal & General Group Plc now owns 800,209 shares of the financial services provider’s stock valued at $7,422,000 after purchasing an additional 86,020 shares during the period. Closed End Fund Advisors Inc. purchased a new stake in Goldman Sachs BDC in the fourth quarter worth $3,858,000. BI Asset Management Fondsmaeglerselskab A S increased its position in Goldman Sachs BDC by 11.2% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 361,731 shares of the financial services provider’s stock worth $3,357,000 after buying an additional 36,453 shares during the last quarter. Finally, Quadrant Private Wealth Management LLC raised its stake in shares of Goldman Sachs BDC by 12.2% in the first quarter. Quadrant Private Wealth Management LLC now owns 160,483 shares of the financial services provider’s stock valued at $1,476,000 after buying an additional 17,423 shares during the period. Hedge funds and other institutional investors own 28.72% of the company’s stock.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc (NYSE: GSBD) is a business development company that invests in privately held, middle-market businesses. The company seeks to generate income and provide long-term capital appreciation by making investments primarily in debt securities and, to a lesser extent, equity interests.

Goldman Sachs BDC’s portfolio typically includes senior secured loans, unitranche loans, second-lien loans and subordinated debt, along with equity investments such as warrants or other ownership interests.