Zacks Research Upgrades Goldman Sachs BDC (NYSE:GSBD) to Hold

Goldman Sachs BDC (NYSE:GSBD) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other equities research analysts have also commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their target price on Goldman Sachs BDC from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $9.00.

Goldman Sachs BDC Price Performance

Shares of NYSE:GSBD traded down $0.12 on Thursday, hitting $9.70. The stock had a trading volume of 1,851,043 shares, compared to its average volume of 811,499. The firm’s 50 day moving average price is $10.29 and its 200-day moving average price is $10.98. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.50 and a current ratio of 1.50. Goldman Sachs BDC has a twelve month low of $9.38 and a twelve month high of $13.44. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 7.69 and a beta of 0.75.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $91.60 million for the quarter, compared to analyst estimates of $88.16 million. Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. On average, equities research analysts predict that Goldman Sachs BDC will post 2.19 earnings per share for the current year.

Insider Activity

In other news, CEO Vivek Bantwal purchased 22,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average price of $11.36 per share, for a total transaction of $249,920.00. Following the completion of the acquisition, the chief executive officer directly owned 22,000 shares in the company, valued at approximately $249,920. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GSBD. Envestnet Asset Management Inc. grew its position in shares of Goldman Sachs BDC by 24.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 125,142 shares of the financial services provider’s stock worth $1,455,000 after buying an additional 24,687 shares during the period. Apollon Wealth Management LLC raised its position in shares of Goldman Sachs BDC by 61.7% during the 1st quarter. Apollon Wealth Management LLC now owns 46,465 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 17,725 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Goldman Sachs BDC by 25.5% during the 1st quarter. Private Advisor Group LLC now owns 52,341 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 10,639 shares during the last quarter. Denali Advisors LLC lifted its stake in shares of Goldman Sachs BDC by 11.9% in the 1st quarter. Denali Advisors LLC now owns 170,452 shares of the financial services provider’s stock valued at $1,982,000 after purchasing an additional 18,175 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its position in shares of Goldman Sachs BDC by 32.9% in the 1st quarter. J.W. Cole Advisors Inc. now owns 79,711 shares of the financial services provider’s stock worth $927,000 after purchasing an additional 19,723 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors and hedge funds.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.