Goldman Sachs BDC (NYSE:GSBD) Price Target Cut to $8.00 by Analysts at Wells Fargo & Company

Goldman Sachs BDC (NYSE:GSBD) had its price target dropped by investment analysts at Wells Fargo & Company from $9.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 13.09% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Goldman Sachs BDC in a report on Monday, December 29th. Zacks Research upgraded Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. The Goldman Sachs Group initiated coverage on Goldman Sachs BDC in a report on Monday, December 15th. They set a “neutral” rating and a $10.50 price objective on the stock. Finally, Lucid Cap Mkts upgraded Goldman Sachs BDC to a “hold” rating in a report on Monday, December 15th. Three 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, the stock presently has a consensus rating of “Reduce” and a consensus target price of $9.25.

Goldman Sachs BDC Stock Up 1.6%

GSBD traded up $0.15 during trading on Monday, reaching $9.21. 923,759 shares of the stock traded hands, compared to its average volume of 1,522,854. The stock’s 50-day simple moving average is $9.32 and its two-hundred day simple moving average is $9.99. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.81 and a quick ratio of 1.81. Goldman Sachs BDC has a fifty-two week low of $8.81 and a fifty-two week high of $13.06. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 8.86 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $38.79 million during the quarter, compared to the consensus estimate of $87.18 million. Goldman Sachs BDC had a return on equity of 12.06% and a net margin of 32.62%. As a group, equities research analysts expect that Goldman Sachs BDC will post 2.19 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GSBD. MTM Investment Management LLC bought a new stake in shares of Goldman Sachs BDC in the second quarter valued at about $25,000. ORG Partners LLC bought a new stake in shares of Goldman Sachs BDC in the 4th quarter worth approximately $33,000. CWM LLC grew its holdings in shares of Goldman Sachs BDC by 187.8% during the 3rd quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 3,174 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Goldman Sachs BDC during the 3rd quarter worth approximately $51,000. Finally, Quantbot Technologies LP bought a new position in Goldman Sachs BDC in the second quarter worth $62,000. Institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Company Profile

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.