Goldman Sachs BDC (NYSE:GSBD) Raised to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from an underweight rating to an equal weight rating in a report published on Monday, MarketBeat reports. Wells Fargo & Company currently has $12.00 price target on the financial services provider’s stock, down from their previous price target of $14.00.

Separately, StockNews.com cut shares of Goldman Sachs BDC from a buy rating to a hold rating in a report on Monday, May 20th.

Goldman Sachs BDC Price Performance

Shares of NYSE:GSBD opened at $13.85 on Monday. The firm’s 50 day moving average is $15.09 and its two-hundred day moving average is $15.20. Goldman Sachs BDC has a 52 week low of $13.39 and a 52 week high of $15.94. The firm has a market capitalization of $1.55 billion, a P/E ratio of 7.21 and a beta of 1.08. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.12.

Goldman Sachs BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Monday, September 30th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 13.00%. The ex-dividend date is Friday, September 27th. Goldman Sachs BDC’s dividend payout ratio (DPR) is presently 93.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its holdings in Goldman Sachs BDC by 20.3% during the second quarter. Van ECK Associates Corp now owns 2,451,439 shares of the financial services provider’s stock worth $36,845,000 after buying an additional 413,745 shares in the last quarter. Marshall Wace LLP bought a new stake in Goldman Sachs BDC during the second quarter worth approximately $18,533,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Goldman Sachs BDC by 2.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,138,467 shares of the financial services provider’s stock worth $17,054,000 after buying an additional 30,886 shares in the last quarter. Shikiar Asset Management Inc. boosted its holdings in Goldman Sachs BDC by 16.1% during the second quarter. Shikiar Asset Management Inc. now owns 554,290 shares of the financial services provider’s stock worth $8,331,000 after buying an additional 76,715 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Goldman Sachs BDC by 17.9% during the second quarter. Envestnet Asset Management Inc. now owns 523,071 shares of the financial services provider’s stock worth $7,862,000 after buying an additional 79,315 shares in the last quarter. 28.72% of the stock is currently owned by institutional investors.

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.