Goldman Sachs BDC (NYSE:GSBD) Cut to Sell at StockNews.com

by · The Cerbat Gem

StockNews.com downgraded shares of Goldman Sachs BDC (NYSE:GSBD – Free Report) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

A number of other analysts have also issued reports on GSBD. Wells Fargo & Company raised shares of Goldman Sachs BDC from an underweight rating to an equal weight rating and lowered their target price for the company from $14.00 to $12.00 in a research note on Monday, August 12th. Truist Financial lowered their price objective on shares of Goldman Sachs BDC from $16.00 to $14.00 and set a hold rating for the company in a research report on Monday, August 12th.

Check Out Our Latest Research Report on GSBD

Goldman Sachs BDC Stock Performance

Goldman Sachs BDC stock opened at $14.35 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $1.61 billion, a P/E ratio of 7.47 and a beta of 1.07. Goldman Sachs BDC has a 1-year low of $13.39 and a 1-year high of $15.94. The company’s 50-day moving average is $14.41 and its 200 day moving average is $15.01.

Goldman Sachs BDC (NYSE:GSBD – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. Goldman Sachs BDC had a return on equity of 15.79% and a net margin of 19.84%. The firm had revenue of $108.62 million for the quarter, compared to the consensus estimate of $112.07 million. Research analysts forecast that Goldman Sachs BDC will post 2.19 EPS for the current year.

Goldman Sachs BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, September 30th. This represents a $1.80 annualized dividend and a dividend yield of 12.55%. Goldman Sachs BDC’s dividend payout ratio is currently 93.75%.

Institutional Trading of Goldman Sachs BDC

A number of hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in shares of Goldman Sachs BDC in the 2nd quarter valued at about $917,000. Founders Financial Alliance LLC raised its stake in Goldman Sachs BDC by 28.4% in the second quarter. Founders Financial Alliance LLC now owns 32,362 shares of the financial services provider’s stock worth $486,000 after buying an additional 7,164 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Goldman Sachs BDC by 8.9% during the second quarter. Cetera Investment Advisers now owns 422,010 shares of the financial services provider’s stock worth $6,343,000 after buying an additional 34,631 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in Goldman Sachs BDC by 11.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 11,500 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 1,146 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Goldman Sachs BDC in the 2nd quarter valued at $18,533,000. 28.72% of the stock is owned by hedge funds and other institutional investors.

About Goldman Sachs BDC

(Get Free Report)

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.

Further Reading