Goldman Sachs BDC (NYSE:GSBD) Stock Crosses Below 50 Day Moving Average – What’s Next?

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.24 and traded as low as $8.93. Goldman Sachs BDC shares last traded at $9.1150, with a volume of 914,206 shares trading hands.

Analyst Ratings Changes

GSBD has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Goldman Sachs BDC in a research note on Tuesday. Truist Financial reduced their target price on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, May 19th. Wall Street Zen cut Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research cut Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company reduced their target price on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, March 2nd. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Goldman Sachs BDC has an average rating of “Reduce” and a consensus target price of $9.17.

Goldman Sachs BDC Stock Down 2.8%

The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $996.81 million, a PE ratio of 13.62 and a beta of 0.58. The company has a 50 day moving average price of $9.23 and a 200-day moving average price of $9.36.

Goldman Sachs BDC (NYSE:GSBD) last issued 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 during the quarter, compared to analysts’ expectations of $83.78 million. Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%. As a group, analysts forecast that Goldman Sachs BDC, Inc. will post 1.15 earnings per share for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 14.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Goldman Sachs BDC’s dividend payout ratio is presently 196.92%.

Insiders Place Their Bets

In other news, Director Carlos E. Evans purchased 50,000 shares of Goldman Sachs BDC stock in a transaction that occurred on Thursday, April 2nd. The shares were bought at an average cost of $9.02 per share, with a total value of $451,000.00. Following the completion of the purchase, the director directly owned 64,446 shares in the company, valued at approximately $581,302.92. This trade represents a 346.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Goldman Sachs BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSBD. XTX Topco Ltd purchased a new stake in Goldman Sachs BDC in the second quarter worth $194,000. Quantbot Technologies LP purchased a new stake in shares of Goldman Sachs BDC in the second quarter worth $62,000. Invesco Ltd. grew its stake in shares of Goldman Sachs BDC by 6.1% in the second 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 stake in shares of Goldman Sachs BDC in the second quarter worth $1,832,000. Finally, Cresset Asset Management LLC grew its stake in shares of Goldman Sachs BDC by 80.7% in the second 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. 28.72% of the stock is owned by hedge funds and other institutional investors.

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.