Goldman Sachs BDC (NYSE:GSBD) Reaches New 52-Week Low – Here’s Why

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) reached a new 52-week low during trading on Monday . The company traded as low as $13.38 and last traded at $13.43, with a volume of 331405 shares traded. The stock had previously closed at $13.54.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GSBD. Truist Financial dropped their target price on shares of Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company raised Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $14.00 to $12.00 in a report on Monday, August 12th. Finally, StockNews.com upgraded Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th.

Goldman Sachs BDC Price Performance

The firm has a market cap of $1.54 billion, a PE ratio of 7.06 and a beta of 1.07. The stock has a 50 day simple moving average of $13.98 and a two-hundred day simple moving average of $14.84. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.22 and a current ratio of 1.22.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05. Goldman Sachs BDC had a return on equity of 15.79% and a net margin of 19.84%. The company had revenue of $108.62 million during the quarter, compared to analysts’ expectations of $112.07 million. Sell-side analysts expect that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 13.08%. The ex-dividend date is Monday, September 30th. Goldman Sachs BDC’s payout ratio is currently 93.75%.

Hedge Funds Weigh In On Goldman Sachs BDC

Institutional investors and hedge funds have recently modified their holdings of the business. Naviter Wealth LLC grew its holdings in Goldman Sachs BDC by 13.6% in the third quarter. Naviter Wealth LLC now owns 149,063 shares of the financial services provider’s stock valued at $2,118,000 after purchasing an additional 17,822 shares during the period. SeaCrest Wealth Management LLC grew its stake in Goldman Sachs BDC by 45.5% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 39,605 shares of the financial services provider’s stock valued at $545,000 after acquiring an additional 12,389 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings in Goldman Sachs BDC by 9.4% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 39,100 shares of the financial services provider’s stock worth $538,000 after acquiring an additional 3,364 shares in the last quarter. Strategic Wealth Partners Ltd. raised its position in Goldman Sachs BDC by 6.3% during the third quarter. Strategic Wealth Partners Ltd. now owns 16,985 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 1,000 shares during the period. Finally, Capital Market Strategies LLC lifted its holdings in Goldman Sachs BDC by 7.7% during the third quarter. Capital Market Strategies LLC now owns 116,025 shares of the financial services provider’s stock valued at $1,597,000 after purchasing an additional 8,324 shares in 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.