Goldman Sachs BDC (NYSE:GSBD) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Goldman Sachs BDC (NYSE:GSBD) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Other research analysts have also recently issued reports about the stock. Truist Financial cut their price target on shares of Goldman Sachs BDC from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Zacks Research upgraded shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Lucid Cap Mkts raised shares of Goldman Sachs BDC to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings upgraded shares of Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, The Goldman Sachs Group initiated coverage on shares of Goldman Sachs BDC in a research note on Monday, December 15th. They set a “neutral” rating and a $10.50 price target for the company. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $9.50.

Goldman Sachs BDC Trading Down 1.6%

Shares of NYSE GSBD opened at $9.20 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day moving average price is $9.28 and its 200-day moving average price is $9.91. Goldman Sachs BDC has a fifty-two week low of $8.81 and a fifty-two week high of $12.43. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 8.85 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings results on Thursday, February 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $38.79 million during the quarter, compared to analyst estimates of $87.18 million. Goldman Sachs BDC had a return on equity of 12.23% and a net margin of 32.62%. On average, sell-side analysts expect that Goldman Sachs BDC will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, March 31st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.28 dividend on an annualized basis and a yield of 13.9%. Goldman Sachs BDC’s dividend payout ratio is 123.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in shares of Goldman Sachs BDC by 3.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,889,090 shares of the financial services provider’s stock worth $29,382,000 after purchasing an additional 89,009 shares during the period. UBS Group AG increased its holdings in Goldman Sachs BDC by 18.2% during the fourth quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider’s stock valued at $14,915,000 after buying an additional 247,163 shares during the period. Invesco Ltd. increased its holdings in Goldman Sachs BDC by 40.1% during the fourth quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider’s stock valued at $13,835,000 after buying an additional 426,859 shares during the period. Ares Management LLC raised its stake in Goldman Sachs BDC by 77.0% in the fourth quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider’s stock worth $13,113,000 after buying an additional 614,637 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in Goldman Sachs BDC by 412.8% during the second quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock worth $12,419,000 after buying an additional 888,608 shares during the period. Hedge funds and other institutional investors own 28.72% of the company’s stock.

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.