Goldman Sachs BDC (NYSE:GSBD) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Goldman Sachs BDC (NYSE:GSBD) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

GSBD has been the subject of a number of other research reports. Truist Financial lowered their price target on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their price target on 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. Wall Street Zen downgraded Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Goldman Sachs BDC presently has an average rating of “Reduce” and an average target price of $9.17.

Goldman Sachs BDC Price Performance

GSBD stock opened at $8.94 on Tuesday. The stock has a 50-day moving average price of $9.28 and a two-hundred day moving average price of $9.43. Goldman Sachs BDC has a 12-month low of $8.65 and a 12-month high of $12.03. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39. The company has a market cap of $1.01 billion, a PE ratio of 13.75 and a beta of 0.62.

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

Goldman Sachs BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 30th will be given a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.28 annualized dividend and a dividend yield of 14.3%. Goldman Sachs BDC’s dividend payout ratio is presently 196.92%.

Insider Buying and Selling at Goldman Sachs BDC

In related news, Director Carlos E. Evans bought 50,000 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was bought at an average price of $9.02 per share, with a total value of $451,000.00. Following the completion of the transaction, the director directly owned 64,446 shares of the company’s stock, valued at approximately $581,302.92. This represents a 346.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Goldman Sachs BDC

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sage Rhino Capital LLC boosted its holdings in Goldman Sachs BDC by 39.9% in the fourth quarter. Sage Rhino Capital LLC now owns 409,885 shares of the financial services provider’s stock valued at $3,804,000 after purchasing an additional 117,000 shares during the last quarter. UBS Group AG boosted its holdings in Goldman Sachs BDC by 18.2% in the fourth quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider’s stock valued at $14,915,000 after purchasing an additional 247,163 shares during the last quarter. Argentarii LLC purchased a new position in Goldman Sachs BDC in the fourth quarter valued at about $585,000. TrueMark Investments LLC purchased a new position in Goldman Sachs BDC in the fourth quarter valued at about $902,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Goldman Sachs BDC in the third quarter valued at about $615,000. 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 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.