Goldman Sachs BDC (NYSE:GSBD) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Goldman Sachs BDC (NYSE:GSBD) from a hold rating to a sell rating in a report published on Saturday morning.

A number of other research firms have also weighed in on GSBD. Truist Financial dropped their price objective on Goldman Sachs BDC from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, March 4th. Weiss Ratings raised Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, March 5th. Finally, Wells Fargo & Company dropped their price objective on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, March 2nd. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Goldman Sachs BDC Stock Down 0.0%

GSBD stock opened at $8.92 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 1.39. The company’s 50 day moving average is $9.31 and its 200 day moving average is $9.46. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 13.72 and a beta of 0.62. Goldman Sachs BDC has a 1-year low of $8.66 and a 1-year high of $12.03.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%.The company had revenue of $10.35 million during the quarter, compared to the consensus estimate of $83.78 million. Sell-side analysts predict that Goldman Sachs BDC will post 1.23 EPS for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.28 annualized dividend and a dividend yield of 14.4%. Goldman Sachs BDC’s dividend payout ratio (DPR) is presently 196.92%.

Insider Buying and Selling at Goldman Sachs BDC

In related news, Director Carlos E. Evans purchased 50,000 shares of Goldman Sachs BDC stock in a transaction dated Thursday, April 2nd. The stock was purchased at an average cost of $9.02 per share, for a total transaction of $451,000.00. Following the completion of the acquisition, the director directly owned 64,446 shares of the company’s stock, valued at $581,302.92. The trade was a 346.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Goldman Sachs BDC

Several large investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in shares of Goldman Sachs BDC during the 2nd quarter valued at about $194,000. Quantbot Technologies LP bought a new stake in shares of Goldman Sachs BDC during the 2nd quarter valued at about $62,000. Invesco Ltd. grew its stake in shares of Goldman Sachs BDC by 6.1% during the 2nd quarter. Invesco Ltd. now owns 931,618 shares of the financial services provider’s stock valued at $10,481,000 after purchasing an additional 53,678 shares during the period. Marshall Wace LLP bought a new stake in shares of Goldman Sachs BDC during the 2nd quarter valued at about $1,832,000. Finally, Cresset Asset Management LLC grew its stake in shares of Goldman Sachs BDC by 80.7% during the 2nd quarter. Cresset Asset Management LLC now owns 31,293 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 13,975 shares during the period. 28.72% of the stock is currently owned by institutional investors.

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.