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

Goldman Sachs BDC (NYSE:GSBD) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Goldman Sachs BDC from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Goldman Sachs BDC presently has an average rating of “Reduce” and an average target price of $9.00.

Goldman Sachs BDC Trading Down 1.2%

NYSE:GSBD traded down $0.12 during trading hours on Thursday, hitting $9.70. The stock had a trading volume of 1,851,043 shares, compared to its average volume of 811,499. The business’s 50 day moving average is $10.29 and its 200-day moving average is $10.98. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 7.69 and a beta of 0.75. Goldman Sachs BDC has a one year low of $9.38 and a one year high of $13.44.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $88.16 million. Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. Sell-side analysts anticipate that Goldman Sachs BDC will post 2.19 EPS for the current fiscal year.

Insider Transactions at Goldman Sachs BDC

In other news, CEO Vivek Bantwal acquired 22,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $11.36 per share, with a total value of $249,920.00. Following the transaction, the chief executive officer directly owned 22,000 shares in the company, valued at approximately $249,920. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Goldman Sachs BDC

Several hedge funds have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Goldman Sachs BDC in the second quarter valued at $97,711,000. Generali Asset Management SPA SGR grew its stake in Goldman Sachs BDC by 52.3% in the 2nd quarter. Generali Asset Management SPA SGR now owns 3,294,022 shares of the financial services provider’s stock valued at $37,058,000 after buying an additional 1,131,403 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Goldman Sachs BDC by 412.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock valued at $12,419,000 after acquiring an additional 888,608 shares during the period. Ares Management LLC acquired a new stake in Goldman Sachs BDC during the first quarter worth approximately $5,373,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Goldman Sachs BDC by 176.0% during the second quarter. Osaic Holdings Inc. now owns 520,676 shares of the financial services provider’s stock worth $5,858,000 after acquiring an additional 332,002 shares during the period. 28.72% of the stock is currently owned by institutional investors and hedge funds.

About Goldman Sachs BDC

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.