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

Goldman Sachs BDC, Inc. (NYSE:GSBD)’s stock price passed 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 changing hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on GSBD. Truist Financial lowered their price target on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, May 19th. Wells Fargo & Company lowered their price target on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Tuesday. Zacks Research cut Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen cut Goldman Sachs BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $9.17.

Goldman Sachs BDC Trading Up 2.4%

The firm has a fifty day simple moving average of $9.24 and a two-hundred day simple moving average of $9.37. The stock has a market cap of $1.03 billion, a PE ratio of 14.02 and a beta of 0.58. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $10.35 million for the quarter, compared to analysts’ expectations of $83.78 million. Goldman Sachs BDC had a net margin of 21.32% and a return on equity of 10.94%. As a group, equities analysts expect that Goldman Sachs BDC, Inc. will post 1.15 earnings per share for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Goldman Sachs BDC’s dividend payout ratio (DPR) is currently 196.92%.

Insider Buying and Selling at Goldman Sachs BDC

In other news, Director Carlos E. Evans acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were bought at an average cost of $9.02 per share, with a total value of $451,000.00. Following the acquisition, the director owned 64,446 shares in the company, valued at approximately $581,302.92. This represents a 346.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Goldman Sachs BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Partners LLC bought a new position in Goldman Sachs BDC during the 4th quarter worth approximately $33,000. Quantbot Technologies LP bought a new position in Goldman Sachs BDC during the 2nd quarter worth approximately $62,000. Kestra Advisory Services LLC bought a new position in Goldman Sachs BDC during the 4th quarter worth approximately $57,000. Advisory Services Network LLC bought a new position in Goldman Sachs BDC during the 3rd quarter worth approximately $68,000. Finally, SHP Wealth Management bought a new position in Goldman Sachs BDC during the 4th quarter worth approximately $63,000. 28.72% of the stock is currently owned by institutional investors.

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.