Closed End Fund Advisors Inc. Takes $3.86 Million Position in Goldman Sachs BDC, Inc. $GSBD

Closed End Fund Advisors Inc. purchased a new stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 415,746 shares of the financial services provider’s stock, valued at approximately $3,858,000. Goldman Sachs BDC comprises about 2.3% of Closed End Fund Advisors Inc.’s holdings, making the stock its 10th largest holding. Closed End Fund Advisors Inc. owned 0.36% of Goldman Sachs BDC at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GSBD. Balyasny Asset Management L.P. raised its stake in shares of Goldman Sachs BDC by 412.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock valued at $12,419,000 after purchasing an additional 888,608 shares during the period. UBS Group AG grew its position in Goldman Sachs BDC by 27.2% during the 3rd quarter. UBS Group AG now owns 1,360,013 shares of the financial services provider’s stock worth $13,831,000 after acquiring an additional 290,737 shares during the last quarter. Marshall Wace LLP bought a new position in Goldman Sachs BDC during the 2nd quarter worth approximately $1,832,000. Lido Advisors LLC grew its position in Goldman Sachs BDC by 60.6% during the 3rd quarter. Lido Advisors LLC now owns 357,835 shares of the financial services provider’s stock worth $3,780,000 after acquiring an additional 134,966 shares during the last quarter. Finally, Invesco Ltd. grew its position in Goldman Sachs BDC by 14.2% during the 3rd quarter. Invesco Ltd. now owns 1,063,940 shares of the financial services provider’s stock worth $10,820,000 after acquiring an additional 132,322 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors.

Goldman Sachs BDC Stock Down 2.8%

Shares of NYSE:GSBD opened at $8.86 on Friday. The stock has a fifty day simple moving average of $9.23 and a two-hundred day simple moving average of $9.36. The stock has a market capitalization of $996.81 million, a price-to-earnings ratio of 13.62 and a beta of 0.58. Goldman Sachs BDC, Inc. 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.

Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The business had revenue of $10.35 million during the quarter, compared to the consensus estimate of $83.78 million. Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%. On average, research analysts anticipate that Goldman Sachs BDC, Inc. will post 1.15 earnings per share for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.5%. Goldman Sachs BDC’s dividend payout ratio (DPR) is presently 196.92%.

Insider Activity at Goldman Sachs BDC

In other Goldman Sachs BDC news, Director Carlos E. Evans bought 50,000 shares of Goldman Sachs BDC stock in a transaction on Thursday, April 2nd. The stock was acquired at an average price of $9.02 per share, with a total value of $451,000.00. Following the acquisition, the director 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

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

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.