Goldman Sachs BDC Inc. (GSBD) Downgraded to Neutral at Goldman Sachs Group Inc.
Goldman Sachs BDC Inc. (NYSE:GSBD) was downgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report released on Monday.
Other equities research analysts have also issued research reports about the stock. National Securities reissued a “buy” rating and issued a $23.00 price target on shares of Goldman Sachs BDC in a report on Monday, August 8th. Bank of America Corp. lowered shares of Goldman Sachs BDC from a “neutral” rating to an “underperform” rating and set a $20.50 price target on the stock. in a report on Thursday, November 3rd. Citigroup Inc. boosted their price target on shares of Goldman Sachs BDC from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, October 5th. Finally, Zacks Investment Research lowered shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Goldman Sachs BDC presently has a consensus rating of “Hold” and a consensus target price of $22.08.
Shares of Goldman Sachs BDC (NYSE:GSBD) traded down 0.09% during mid-day trading on Monday, reaching $22.98. 168,326 shares of the company traded hands. Goldman Sachs BDC has a 52-week low of $16.66 and a 52-week high of $23.00. The stock’s 50 day moving average is $21.91 and its 200 day moving average is $20.90.
Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, November 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.01. Goldman Sachs BDC had a net margin of 28.66% and a return on equity of 11.88%. The business had revenue of $33.95 million for the quarter, compared to analyst estimates of $26.37 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Goldman Sachs BDC’s revenue was up 3.2% compared to the same quarter last year. Equities analysts expect that Goldman Sachs BDC will post $2.10 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Saturday, December 31st will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 28th. This represents a $1.80 annualized dividend and a yield of 7.83%. Goldman Sachs BDC’s dividend payout ratio (DPR) is 181.82%.
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In related news, Director Jaime Ardila purchased 4,683 shares of Goldman Sachs BDC stock in a transaction that occurred on Monday, November 7th. The shares were acquired at an average price of $21.52 per share, for a total transaction of $100,778.16. Following the transaction, the director now directly owns 4,683 shares in the company, valued at $100,778.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.35% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of GSBD. Berson & Corrado Investment Advisors LLC increased its position in shares of Goldman Sachs BDC by 4.2% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 24,910 shares of the company’s stock valued at $498,000 after buying an additional 1,000 shares during the period. CIBC World Markets Inc. increased its position in shares of Goldman Sachs BDC by 156.8% in the second quarter. CIBC World Markets Inc. now owns 35,949 shares of the company’s stock valued at $719,000 after buying an additional 21,948 shares during the period. Confluence Investment Management LLC increased its position in shares of Goldman Sachs BDC by 30.1% in the second quarter. Confluence Investment Management LLC now owns 218,493 shares of the company’s stock valued at $4,368,000 after buying an additional 50,514 shares during the period. Muzinich & Co. Inc. increased its position in shares of Goldman Sachs BDC by 7.9% in the second quarter. Muzinich & Co. Inc. now owns 435,386 shares of the company’s stock valued at $8,703,000 after buying an additional 31,976 shares during the period. Finally, Starfire Investment Advisers Inc. bought a new position in shares of Goldman Sachs BDC during the second quarter valued at about $248,000. Institutional investors and hedge funds own 33.48% of the company’s stock.
Goldman Sachs BDC Company Profile
Goldman Sachs BDC, Inc, formerly Goldman Sachs Liberty Harbor Capital, LLC, is a closed-end management investment company. The Company is focused on lending to middle-market companies. Its investment objective is to generate current income and capital appreciation through direct originations of secured debt, including first lien, first lien/last-out unitranche and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.
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