Goldman Sachs BDC (NYSE:GSBD) Upgraded at Zacks Investment Research

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Goldman Sachs BDC (NYSE:GSBD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, reports. The brokerage presently has a $22.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.81% from the stock’s previous close.

According to Zacks, “Goldman Sachs BDC, Inc. is a specialty finance company. The Company invests primarily in telecommunication services, electronic equipment, instruments and components and real estate management and development industries. Goldman Sachs BDC, Inc. is based in NEW YORK, United States. “

Separately, TheStreet raised shares of Goldman Sachs BDC from a “c” rating to a “b” rating in a research note on Friday, March 19th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $17.44.

NYSE GSBD traded down $0.02 during trading hours on Monday, reaching $19.33. The company’s stock had a trading volume of 656,025 shares, compared to its average volume of 416,269. The stock has a market cap of $1.96 billion, a PE ratio of 64.43 and a beta of 1.42. Goldman Sachs BDC has a fifty-two week low of $13.50 and a fifty-two week high of $20.64. The company’s 50-day moving average is $19.62 and its two-hundred day moving average is $18.14. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.15 and a current ratio of 1.15.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Wednesday, February 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Goldman Sachs BDC had a net margin of 9.56% and a return on equity of 11.79%. The company had revenue of $78.90 million for the quarter, compared to analysts’ expectations of $67.23 million. Equities analysts expect that Goldman Sachs BDC will post 1.82 earnings per share for the current fiscal year.

In other Goldman Sachs BDC news, Director Ann B. Lane purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 10th. The shares were purchased at an average price of $19.15 per share, for a total transaction of $191,500.00. Following the completion of the acquisition, the director now owns 16,890 shares of the company’s stock, valued at approximately $323,443.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. AdvisorNet Financial Inc lifted its position in Goldman Sachs BDC by 333.3% during the first quarter. AdvisorNet Financial Inc now owns 1,300 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,000 shares in the last quarter. Merrion Investment Management Co LLC acquired a new position in Goldman Sachs BDC during the fourth quarter valued at approximately $57,000. Wolff Wiese Magana LLC acquired a new position in Goldman Sachs BDC during the first quarter valued at approximately $57,000. Bellevue Asset Management LLC acquired a new position in Goldman Sachs BDC during the fourth quarter valued at approximately $64,000. Finally, FNY Investment Advisers LLC acquired a new position in Goldman Sachs BDC during the fourth quarter valued at approximately $74,000. 13.78% of the stock is currently owned by hedge funds and other institutional investors.

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.

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