Goldman Sachs BDC (NYSE:GSBD) Given New $9.00 Price Target at Wells Fargo & Company

Goldman Sachs BDC (NYSE:GSBD) had its price target dropped by Wells Fargo & Company from $10.00 to $9.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 8.16% from the company’s previous close.

Several other brokerages also recently issued reports on GSBD. Zacks Research downgraded Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Friday, August 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Goldman Sachs BDC in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Sell” and an average target price of $9.00.

Goldman Sachs BDC Stock Performance

Shares of Goldman Sachs BDC stock opened at $9.80 on Monday. The firm has a market capitalization of $1.12 billion, a P/E ratio of 7.87 and a beta of 0.75. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.19. Goldman Sachs BDC has a 52 week low of $9.38 and a 52 week high of $13.44. The firm’s 50 day moving average is $10.45 and its two-hundred day moving average is $11.02.

Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, November 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $91.60 million for the quarter, compared to analyst estimates of $88.16 million. Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. Research analysts forecast that Goldman Sachs BDC will post 2.19 EPS for the current fiscal year.

Insider Activity

In other Goldman Sachs BDC news, CEO Vivek Bantwal acquired 22,000 shares of the business’s stock in a transaction on Friday, September 12th. The stock was purchased at an average price of $11.36 per share, for a total transaction of $249,920.00. Following the transaction, the chief executive officer owned 22,000 shares in the company, valued at $249,920. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Goldman Sachs BDC

A number of institutional investors have recently modified their holdings of GSBD. MTM Investment Management LLC bought a new stake in shares of Goldman Sachs BDC during the 2nd quarter valued at $25,000. Farther Finance Advisors LLC acquired a new position in Goldman Sachs BDC in the second quarter valued at about $34,000. CWM LLC raised its stake in Goldman Sachs BDC by 187.8% in the third quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 3,174 shares in the last quarter. Private Trust Co. NA lifted its position in Goldman Sachs BDC by 1,471.7% during the second quarter. Private Trust Co. NA now owns 5,045 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 4,724 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in Goldman Sachs BDC during the third quarter worth about $51,000. 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.