Goldman Sachs BDC (NYSE:GSBD) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Goldman Sachs BDC (NYSE:GSBD) from a hold rating to a sell rating in a research report released on Tuesday morning.

A number of other research firms have also commented on GSBD. Truist Financial cut their price objective on shares of Goldman Sachs BDC from $16.00 to $14.00 and set a hold rating for the company in a research report on Monday, August 12th. Wells Fargo & Company raised shares of Goldman Sachs BDC from an underweight rating to an equal weight rating and decreased their target price for the stock from $14.00 to $12.00 in a research note on Monday, August 12th.

Goldman Sachs BDC Stock Performance

Shares of GSBD stock opened at $14.39 on Tuesday. The firm has a 50-day moving average of $14.43 and a 200-day moving average of $15.02. The company has a market cap of $1.61 billion, a P/E ratio of 7.49 and a beta of 1.07. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.22 and a quick ratio of 1.22. Goldman Sachs BDC has a one year low of $13.39 and a one year high of $15.94.

Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, August 8th. The financial services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. The firm had revenue of $108.62 million during the quarter, compared to the consensus estimate of $112.07 million. Goldman Sachs BDC had a net margin of 19.84% and a return on equity of 15.79%. Equities research analysts forecast that Goldman Sachs BDC will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, September 30th will be paid a $0.45 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.80 dividend on an annualized basis and a yield of 12.51%. Goldman Sachs BDC’s payout ratio is presently 93.75%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GSBD. Marshall Wace LLP purchased a new position in shares of Goldman Sachs BDC during the second quarter valued at approximately $18,533,000. Van ECK Associates Corp boosted its stake in shares of Goldman Sachs BDC by 20.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,451,439 shares of the financial services provider’s stock worth $36,845,000 after acquiring an additional 413,745 shares in the last quarter. Confluence Investment Management LLC purchased a new position in Goldman Sachs BDC in the 1st quarter valued at about $2,786,000. Cetera Investment Advisers raised its holdings in Goldman Sachs BDC by 45.8% in the 1st quarter. Cetera Investment Advisers now owns 387,379 shares of the financial services provider’s stock valued at $5,803,000 after acquiring an additional 121,765 shares during the last quarter. Finally, Cetera Advisors LLC raised its holdings in Goldman Sachs BDC by 762.7% in the 1st quarter. Cetera Advisors LLC now owns 136,015 shares of the financial services provider’s stock valued at $2,038,000 after acquiring an additional 120,249 shares during the last quarter. Hedge funds and other institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Company Profile

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.