Goldman Sachs BDC, Inc. (NYSE:GSBD) Receives Average Rating of “Reduce” from Analysts

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) have earned an average rating of “Reduce” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $9.1667.

GSBD has been the subject of several recent research reports. Wall Street Zen lowered Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Zacks Research lowered Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Tuesday, June 2nd. Wells Fargo & Company reduced 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. Finally, Truist Financial reduced 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, May 19th.

Goldman Sachs BDC Trading Up 1.8%

GSBD opened at $9.24 on Friday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 14.22 and a beta of 0.58. 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 has a 12 month low of $8.65 and a 12 month high of $12.03. The stock has a fifty day moving average price of $9.24 and a 200-day moving average price of $9.35.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.07). The company 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%. As a group, equities research analysts anticipate that Goldman Sachs BDC 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. Investors of record on Tuesday, June 30th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 13.8%. The ex-dividend date is Tuesday, June 30th. Goldman Sachs BDC’s payout ratio is 196.92%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Closed End Fund Advisors Inc. purchased a new position in Goldman Sachs BDC during the 4th quarter worth $3,858,000. Sage Rhino Capital LLC grew its stake in Goldman Sachs BDC by 39.9% during the 4th quarter. Sage Rhino Capital LLC now owns 409,885 shares of the financial services provider’s stock worth $3,804,000 after buying an additional 117,000 shares during the last quarter. UBS Group AG grew its stake in Goldman Sachs BDC by 18.2% during the 4th quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider’s stock worth $14,915,000 after buying an additional 247,163 shares during the last quarter. Argentarii LLC purchased a new position in Goldman Sachs BDC during the 4th quarter worth $585,000. Finally, TrueMark Investments LLC purchased a new position in Goldman Sachs BDC during the 4th quarter worth $902,000. 28.72% of the stock is currently 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.