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

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

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group lowered Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 price objective on the stock. in a research report on Thursday, July 9th. Truist Financial decreased their target price on shares of Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday, May 19th. Wall Street Zen downgraded shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Bank of America restated an “underperform” rating and set a $8.50 price target (down from $9.00) on shares of Goldman Sachs BDC in a research report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $8.50.

Goldman Sachs BDC Stock Performance

Shares of GSBD stock opened at $8.85 on Tuesday. Goldman Sachs BDC has a 52-week low of $8.35 and a 52-week high of $11.62. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39. The stock has a market cap of $995.68 million, a PE ratio of 13.61 and a beta of 0.56. The business has a 50-day simple moving average of $9.06 and a 200-day simple moving average of $9.21.

Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.07). The company had revenue of $10.35 million for the quarter, compared to analyst estimates of $83.78 million. Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%. On average, equities analysts expect that Goldman Sachs BDC will post 1.15 EPS for the current year.

Institutional Investors Weigh In On Goldman Sachs BDC

Institutional investors have recently added to or reduced their stakes in the stock. Closed End Fund Advisors Inc. purchased a new position in Goldman Sachs BDC during the fourth quarter valued at $3,858,000. UBS Group AG increased its stake in shares of 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 worth $14,915,000 after purchasing an additional 247,163 shares in the last quarter. Sage Rhino Capital LLC raised its position in shares of Goldman Sachs BDC by 39.9% during the 4th quarter. Sage Rhino Capital LLC now owns 409,885 shares of the financial services provider’s stock worth $3,804,000 after purchasing an additional 117,000 shares during the last quarter. Saxon Interests Inc. acquired a new position in shares of Goldman Sachs BDC during the 4th quarter worth about $1,131,000. Finally, One William Street Capital Management L.P. purchased a new position in Goldman Sachs BDC in the 4th quarter valued at about $742,000. Institutional investors and hedge funds 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.