Goldman Sachs BDC (NYSE:GSBD) Stock Rating Lowered by Zacks Research

Goldman Sachs BDC (NYSE:GSBD) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on GSBD. Truist Financial decreased their target price on shares of Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Tuesday. Weiss Ratings raised shares of Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. Wells Fargo & Company reduced their price objective on shares of Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, March 2nd. Finally, Wall Street Zen lowered shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.17.

Goldman Sachs BDC Stock Up 2.1%

Shares of NYSE GSBD opened at $8.94 on Tuesday. The firm’s 50-day moving average price is $9.28 and its 200-day moving average price is $9.43. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 13.75 and a beta of 0.62. Goldman Sachs BDC has a 12-month low of $8.65 and a 12-month high of $12.03.

Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). The business had revenue of $10.35 million for the quarter, compared to analysts’ expectations of $83.78 million. Goldman Sachs BDC had a net margin of 21.32% and a return on equity of 10.94%. On average, equities research analysts anticipate that Goldman Sachs BDC will post 1.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Carlos E. Evans acquired 50,000 shares of Goldman Sachs BDC stock in a transaction that occurred on Thursday, April 2nd. The shares were bought at an average cost of $9.02 per share, with a total value of $451,000.00. Following the transaction, the director directly owned 64,446 shares of the company’s stock, valued at $581,302.92. This trade represents a 346.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is owned by company insiders.

Institutional Trading of Goldman Sachs BDC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSBD. Van ECK Associates Corp grew its stake in Goldman Sachs BDC by 3.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,889,090 shares of the financial services provider’s stock worth $29,382,000 after acquiring an additional 89,009 shares in the last quarter. UBS Group AG grew its stake in Goldman Sachs BDC by 18.2% in the 4th quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider’s stock worth $14,915,000 after acquiring an additional 247,163 shares in the last quarter. Invesco Ltd. grew its stake in Goldman Sachs BDC by 40.1% in the 4th quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider’s stock worth $13,835,000 after acquiring an additional 426,859 shares in the last quarter. Ares Management LLC grew its stake in Goldman Sachs BDC by 77.0% in the 4th quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider’s stock worth $13,113,000 after acquiring an additional 614,637 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in Goldman Sachs BDC by 412.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock worth $12,419,000 after acquiring an additional 888,608 shares in the last quarter. 28.72% of the stock is owned by hedge funds and other institutional investors.

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.