Goldman Sachs BDC (NYSE:GSBD) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Goldman Sachs BDC (NYSE:GSBD) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks reports.

A number of other research firms also recently issued reports on GSBD. Wall Street Zen upgraded Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Truist Financial reduced their price objective on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Weiss Ratings downgraded Goldman Sachs BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, November 4th. Three analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Goldman Sachs BDC currently has an average rating of “Strong Sell” and a consensus target price of $8.50.

Goldman Sachs BDC Stock Up 0.1%

Shares of Goldman Sachs BDC stock opened at $8.51 on Tuesday. The company has a market cap of $945.14 million, a price-to-earnings ratio of 32.74 and a beta of 0.62. The company’s 50 day moving average is $9.14 and its 200 day moving average is $9.24. Goldman Sachs BDC has a twelve month low of $8.35 and a twelve month high of $10.38. 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 (NYSE:GSBD) last posted its earnings results on Thursday, November 5th. The financial services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $74.99 million during the quarter, compared to the consensus estimate of $80.13 million. Goldman Sachs BDC had a return on equity of 10.56% and a net margin of 9.21%. Research analysts anticipate that Goldman Sachs BDC will post 1.25 EPS for the current year.

Goldman Sachs BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Thursday, December 31st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 15.0%. The ex-dividend date is Thursday, December 31st. Goldman Sachs BDC’s payout ratio is 492.31%.

Institutional Trading of Goldman Sachs BDC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Management Group Inc. boosted its stake in shares of Goldman Sachs BDC by 5.0% during 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 acquiring an additional 261,504 shares during the last quarter. Cidel Asset Management Inc. bought a new stake in shares of Goldman Sachs BDC during the 2nd quarter valued at $571,000. Compass Financial Management LLC bought a new stake in shares of Goldman Sachs BDC during the 2nd quarter valued at $522,000. Arlington Capital Management INC purchased a new stake in shares of Goldman Sachs BDC in the 3rd quarter worth $566,000. Finally, Beach Point Capital Management LP purchased a new stake in shares of Goldman Sachs BDC in the 3rd quarter worth $718,000. 28.72% of the stock is owned by hedge funds and other institutional investors.

Goldman Sachs BDC Company Profile

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.