Bank of America Reaffirms “Underperform” Rating for Goldman Sachs BDC (NYSE:GSBD)

Goldman Sachs BDC (NYSE:GSBD)‘s stock had its “underperform” rating reissued by stock analysts at Bank of America in a research note issued to investors on Thursday,Benzinga reports. They currently have a $8.50 price target on the financial services provider’s stock, down from their previous price target of $9.00. Bank of America‘s price objective would indicate a potential downside of 4.87% from the company’s current price.

Several other brokerages also recently issued reports on GSBD. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Tuesday, June 2nd. Zacks Research cut shares of Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Wall Street Zen downgraded shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Truist Financial reduced 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, May 19th. Finally, The Goldman Sachs Group cut shares of Goldman Sachs BDC from a “neutral” rating to a “reduce” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Goldman Sachs BDC currently has an average rating of “Strong Sell” and a consensus price target of $9.00.

Goldman Sachs BDC Trading Down 0.7%

GSBD stock opened at $8.94 on Thursday. The business has a fifty day moving average price of $9.23 and a 200 day moving average price of $9.27. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11. Goldman Sachs BDC has a fifty-two week low of $8.65 and a fifty-two week high of $12.03. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 13.75 and a beta of 0.56.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The business had revenue of $10.35 million during the quarter, compared to analyst estimates of $83.78 million. Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%. Analysts expect that Goldman Sachs BDC will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. ORG Partners LLC bought a new position in shares of Goldman Sachs BDC in the 4th quarter worth $33,000. Kestra Advisory Services LLC acquired a new stake in shares of Goldman Sachs BDC during the fourth quarter worth $57,000. Quantbot Technologies LP bought a new stake in Goldman Sachs BDC in the second quarter valued at about $62,000. SHP Wealth Management acquired a new position in Goldman Sachs BDC in the fourth quarter valued at about $63,000. Finally, Advisory Services Network LLC acquired a new position in Goldman Sachs BDC in the third quarter valued at about $68,000. Institutional investors and hedge funds own 28.72% of the company’s stock.

About Goldman Sachs BDC

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.