Goldman Sachs BDC (NYSE:GSBD) Cut to “Hold” at Zacks Research

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

Other research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Goldman Sachs BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, November 4th. Wall Street Zen raised shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Truist Financial lowered their price objective on shares of Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Goldman Sachs BDC currently has a consensus rating of “Strong Sell” and a consensus target price of $8.50.

Goldman Sachs BDC Price Performance

Shares of GSBD stock opened at $8.51 on Tuesday. The business has a fifty day simple moving average of $9.14 and a 200 day simple moving average of $9.24. The company has a market cap of $945.14 million, a P/E ratio of 32.74 and a beta of 0.62. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.25. Goldman Sachs BDC has a twelve month low of $8.35 and a twelve month high of $10.38.

Goldman Sachs BDC (NYSE:GSBD) last released its earnings results on Thursday, November 5th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Goldman Sachs BDC had a net margin of 9.21% and a return on equity of 10.56%. The business had revenue of $74.99 million during the quarter, compared to the consensus estimate of $80.13 million. On average, sell-side analysts forecast that Goldman Sachs BDC will post 1.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Goldman Sachs BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Private Management Group Inc. increased its holdings in Goldman Sachs BDC by 5.0% in the 3rd quarter. Private Management Group Inc. now owns 5,440,142 shares of the financial services provider’s stock worth $49,451,000 after purchasing an additional 261,504 shares in the last quarter. Beach Point Capital Management LP acquired a new stake in shares of Goldman Sachs BDC during the third quarter valued at about $718,000. Ethic Inc. acquired a new stake in shares of Goldman Sachs BDC during the third quarter valued at about $669,000. Arlington Capital Management INC bought a new stake in shares of Goldman Sachs BDC during the third quarter worth about $566,000. Finally, Cidel Asset Management Inc. bought a new stake in shares of Goldman Sachs BDC during the second quarter worth about $571,000. Institutional investors own 28.72% of the company’s stock.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc. is a business development company that provides financing to middle-market companies, primarily in the United States. It seeks to support businesses that may need capital for growth, acquisitions, refinancing, or other corporate purposes. The company invests mainly in debt securities, including senior secured, unitranche, second-lien, and subordinated loans. It may also make equity and equity-related investments, often alongside its lending activities. Goldman Sachs BDC is externally managed by Goldman Sachs Asset Management, part of Goldman Sachs.