Goldman Sachs BDC (NYSE:GSBD) Shares Pass Below 50 Day Moving Average – Should You Sell?

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.24 and traded as low as $8.93. Goldman Sachs BDC shares last traded at $9.1150, with a volume of 914,206 shares.

Analyst Ratings Changes

GSBD has been the subject of several research reports. Truist Financial cut their price target on 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a research note on Tuesday. Wall Street Zen downgraded Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Wells Fargo & Company cut their price target on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, March 2nd. Finally, Zacks Research downgraded Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $9.17.

Goldman Sachs BDC Price Performance

The firm has a 50 day moving average price of $9.24 and a two-hundred day moving average price of $9.37. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $1.03 billion, a P/E ratio of 14.02 and a beta of 0.58.

Goldman Sachs BDC (NYSE:GSBD) last issued 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). Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%.The company had revenue of $10.35 million during the quarter, compared to the consensus estimate of $83.78 million. On average, analysts predict that Goldman Sachs BDC, Inc. will post 1.15 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, July 28th. Shareholders of record on Tuesday, June 30th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.28 annualized dividend and a yield of 14.0%. Goldman Sachs BDC’s dividend payout ratio (DPR) is currently 196.92%.

Insider Buying and Selling

In related news, Director Carlos E. Evans bought 50,000 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was acquired at an average price of $9.02 per share, for a total transaction of $451,000.00. Following the purchase, the director directly owned 64,446 shares in the company, valued at $581,302.92. This trade represents a 346.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. ORG Partners LLC bought a new position in Goldman Sachs BDC in the 4th quarter worth about $33,000. Quantbot Technologies LP bought a new position in Goldman Sachs BDC in the 2nd quarter worth about $62,000. Kestra Advisory Services LLC bought a new position in Goldman Sachs BDC in the 4th quarter worth about $57,000. Advisory Services Network LLC bought a new position in Goldman Sachs BDC in the 3rd quarter worth about $68,000. Finally, SHP Wealth Management bought a new position in Goldman Sachs BDC in the 4th quarter worth about $63,000. 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.