Goldman Sachs BDC (NYSE:GSBD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a sell rating to a hold rating in a research report report published on Sunday.

A number of other brokerages also recently issued reports on GSBD. Lucid Cap Mkts raised Goldman Sachs BDC to a “hold” rating in a 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, March 5th. The Goldman Sachs Group initiated coverage on shares of Goldman Sachs BDC in a research report on Monday, December 15th. They issued a “neutral” rating and a $10.50 price objective on the stock. Truist Financial reduced their price objective on shares of Goldman Sachs BDC from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th. Finally, Wells Fargo & Company dropped their target price on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, March 2nd. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $9.50.

Goldman Sachs BDC Stock Up 2.6%

Shares of GSBD opened at $9.30 on Friday. The company’s 50-day simple moving average is $9.26 and its 200-day simple moving average is $9.81. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.01 and a current ratio of 1.01. Goldman Sachs BDC has a 1 year low of $8.81 and a 1 year high of $12.43. The stock has a market capitalization of $1.05 billion, a PE ratio of 8.94 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings data on Friday, February 27th. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $38.79 million during the quarter, compared to analysts’ expectations of $87.18 million. Goldman Sachs BDC had a net margin of 32.62% and a return on equity of 12.23%. Analysts forecast that Goldman Sachs BDC will post 2.19 earnings per share for the current fiscal year.

Goldman Sachs BDC Announces Dividend

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

Hedge Funds Weigh In On Goldman Sachs BDC

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. raised its holdings in Goldman Sachs BDC by 55.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,965 shares of the financial services provider’s stock worth $7,241,000 after purchasing an additional 254,828 shares in the last quarter. Ares Management LLC boosted its stake in Goldman Sachs BDC by 72.8% during the 2nd quarter. Ares Management LLC now owns 798,421 shares of the financial services provider’s stock valued at $8,982,000 after purchasing an additional 336,437 shares in the last quarter. Muzinich & Co. Inc. increased its position in shares of Goldman Sachs BDC by 50.9% during the 3rd quarter. Muzinich & Co. Inc. now owns 766,299 shares of the financial services provider’s stock valued at $7,793,000 after purchasing an additional 258,362 shares during the period. Osaic Holdings Inc. increased its position in shares of Goldman Sachs BDC by 176.0% during the 2nd quarter. Osaic Holdings Inc. now owns 520,676 shares of the financial services provider’s stock valued at $5,858,000 after purchasing an additional 332,002 shares during the period. Finally, TT Capital Management LLC bought a new stake in shares of Goldman Sachs BDC in the 2nd quarter worth $1,202,000. 28.72% of the stock is currently owned by institutional investors and hedge funds.

About Goldman Sachs BDC

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.