Goldman Sachs BDC (NYSE:GSBD) Sets New 52-Week Low After Analyst Downgrade

Goldman Sachs BDC, Inc. (NYSE:GSBD)’s stock price reached a new 52-week low during trading on Monday after Wells Fargo & Company lowered their price target on the stock from $9.00 to $8.00. Wells Fargo & Company currently has an underweight rating on the stock. Goldman Sachs BDC traded as low as $8.81 and last traded at $9.1050, with a volume of 432417 shares changing hands. The stock had previously closed at $9.06.

Other equities analysts have also issued reports about the stock. Zacks Research upgraded shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. The Goldman Sachs Group began coverage on Goldman Sachs BDC in a research note on Monday, December 15th. They issued a “neutral” rating and a $10.50 price target on the stock. Lucid Cap Mkts raised Goldman Sachs BDC to a “hold” rating in a research note on Monday, December 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Goldman Sachs BDC in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Goldman Sachs BDC has an average rating of “Reduce” and an average price target of $9.25.

Institutional Investors Weigh In On Goldman Sachs BDC

Institutional investors and hedge funds have recently modified their holdings of the company. MTM Investment Management LLC acquired a new position in shares of Goldman Sachs BDC during the 2nd quarter worth approximately $25,000. ORG Partners LLC bought a new position in Goldman Sachs BDC during the fourth quarter worth $33,000. CWM LLC increased its holdings in shares of Goldman Sachs BDC by 187.8% in the third quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 3,174 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Goldman Sachs BDC in the third quarter valued at about $51,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Goldman Sachs BDC during the 4th quarter worth about $57,000. 28.72% of the stock is owned by institutional investors.

Goldman Sachs BDC Trading Up 2.3%

The company has a market cap of $1.06 billion, a price-to-earnings ratio of 8.93 and a beta of 0.62. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average price is $9.32 and its 200-day moving average price is $9.99.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Goldman Sachs BDC had a net margin of 32.62% and a return on equity of 12.06%. The firm had revenue of $38.79 million during the quarter, compared to the consensus estimate of $87.18 million. On average, equities analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 13.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Goldman Sachs BDC’s dividend payout ratio is 123.08%.

Goldman Sachs BDC Company Profile

Goldman Sachs BDC, Inc (NYSE: GSBD) is an externally managed, closed-end, non-diversified management investment company organized as a business development company (BDC) under the U.S. Investment Company Act of 1940. The company’s primary objective is to generate current income and capital appreciation through debt and equity investments in U.S. middle-market companies. It principally invests in senior secured loans, mezzanine debt, preferred equity and, to a lesser extent, common equity, focusing on sponsor-backed transactions and special-situation financings.

The fund is advised by affiliates of Goldman Sachs Asset Management’s Private Credit Group, leveraging the firm’s global research capabilities and risk management infrastructure.