Goldman Sachs BDC Inc. (GSBD) Downgraded by National Alliance Securities to “Neutral”
Goldman Sachs BDC Inc. (NYSE:GSBD) was downgraded by analysts at National Alliance Securities from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday.
Several other equities research analysts have also weighed in on the company. Goldman Sachs Group Inc. lowered Goldman Sachs BDC from a “neutral” rating to an “underperform” rating and set a $20.50 target price on the stock. in a research report on Thursday, November 3rd. Zacks Investment Research lowered Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. National Securities reaffirmed a “buy” rating and issued a $23.00 target price on shares of Goldman Sachs BDC in a research report on Monday, August 8th. Bank of America Corp. cut Goldman Sachs BDC from a “neutral” rating to an “underperform” rating and set a $20.50 price target for the company. in a research note on Thursday, November 3rd. Finally, Citigroup Inc. increased their price target on Goldman Sachs BDC from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, October 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.08.
Goldman Sachs BDC (NYSE:GSBD) traded up 0.88% on Wednesday, hitting $22.99. The stock had a trading volume of 54,286 shares. Goldman Sachs BDC has a one year low of $16.66 and a one year high of $23.00. The stock has a 50-day moving average of $21.95 and a 200-day moving average of $20.94.
Goldman Sachs BDC (NYSE:GSBD) last issued its earnings results on Thursday, November 3rd. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.01. Goldman Sachs BDC had a return on equity of 11.88% and a net margin of 28.66%. The firm had revenue of $33.95 million for the quarter, compared to analyst estimates of $26.37 million. During the same period last year, the company earned $0.57 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts expect that Goldman Sachs BDC will post $2.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Saturday, December 31st will be paid 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 7.90%. Goldman Sachs BDC’s dividend payout ratio is currently 181.82%.
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In other news, Director Jaime Ardila bought 4,683 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was acquired at an average price of $21.52 per share, with a total value of $100,778.16. Following the completion of the purchase, the director now directly owns 4,683 shares of the company’s stock, valued at approximately $100,778.16. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.35% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Creative Planning bought a new stake in shares of Goldman Sachs BDC during the third quarter valued at approximately $112,000. PineBridge Investments L.P. increased its stake in shares of Goldman Sachs BDC by 133.9% in the second quarter. PineBridge Investments L.P. now owns 9,334 shares of the company’s stock valued at $187,000 after buying an additional 5,344 shares in the last quarter. BB&T Securities LLC bought a new stake in shares of Goldman Sachs BDC during the third quarter valued at approximately $202,000. Starfire Investment Advisers Inc. bought a new stake in shares of Goldman Sachs BDC during the second quarter valued at approximately $248,000. Finally, National Asset Management Inc. bought a new stake in shares of Goldman Sachs BDC during the second quarter valued at approximately $263,000. 33.48% of the stock is owned by institutional investors and hedge funds.
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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