Goldman Sachs BDC (NYSE:GSBD) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

Goldman Sachs BDC, Inc. (NYSE:GSBD) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $9.27 and traded as low as $9.18. Goldman Sachs BDC shares last traded at $9.2550, with a volume of 768,616 shares traded.

Analyst Ratings Changes

GSBD has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Wells Fargo & Company dropped their price target on shares of 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. Truist Financial reduced their price objective on shares of Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of Goldman Sachs BDC in a research note on Tuesday, June 2nd. Finally, Zacks Research lowered Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $9.17.

Goldman Sachs BDC Price Performance

The stock has a market capitalization of $1.04 billion, a PE ratio of 14.24 and a beta of 0.58. 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’s 50 day moving average price is $9.27 and its 200-day moving average price is $9.30.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates 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. As a group, equities analysts forecast that Goldman Sachs BDC, Inc. will post 1.15 EPS for the current year.

Goldman Sachs BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.8%. Goldman Sachs BDC’s dividend payout ratio (DPR) is 196.92%.

Insider Activity at Goldman Sachs BDC

In other news, Director Carlos E. Evans purchased 50,000 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were purchased at an average price of $9.02 per share, for a total transaction of $451,000.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new stake in shares of Goldman Sachs BDC in the 4th quarter worth approximately $33,000. Quantbot Technologies LP purchased a new position in Goldman Sachs BDC during the second quarter valued at approximately $62,000. Kestra Advisory Services LLC bought a new position in Goldman Sachs BDC in the fourth quarter worth approximately $57,000. Advisory Services Network LLC purchased a new stake in Goldman Sachs BDC during the third quarter worth $68,000. Finally, SHP Wealth Management purchased a new stake in Goldman Sachs BDC during the fourth quarter worth $63,000. 28.72% of the stock is currently owned by institutional investors.

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.