Brokerages Set Goldman Sachs BDC, Inc. (NYSE:GSBD) PT at $9.17

Goldman Sachs BDC, Inc. (NYSE:GSBD) has been assigned an average rating of “Strong Sell” from the seven analysts that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.50.

A number of brokerages recently weighed in on GSBD. Bank of America reiterated an “underperform” rating and set a $8.50 price target (down from $9.00) on shares of Goldman Sachs BDC in a research note on Thursday, July 9th. The Goldman Sachs Group downgraded shares of Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 target price for the company. in a research note on Thursday, July 9th. 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. Zacks Research cut Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen downgraded Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th.

Goldman Sachs BDC Stock Up 1.2%

Shares of NYSE GSBD opened at $8.91 on Wednesday. The business has a 50-day moving average price of $9.14 and a 200 day moving average price of $9.25. The stock has a market cap of $1.00 billion, a PE ratio of 13.72 and a beta of 0.56. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39. Goldman Sachs BDC has a 52-week low of $8.35 and a 52-week high of $12.03.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly 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 firm 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%. Equities research analysts forecast that Goldman Sachs BDC will post 1.14 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

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 issued a $0.32 dividend. 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 14.4%. Goldman Sachs BDC’s payout ratio is presently 196.92%.

Institutional Investors Weigh In On Goldman Sachs BDC

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in Goldman Sachs BDC during the 2nd quarter worth $194,000. Quantbot Technologies LP acquired a new position in shares of Goldman Sachs BDC during the second quarter worth about $62,000. Invesco Ltd. increased its stake in shares of Goldman Sachs BDC by 6.1% during the second quarter. Invesco Ltd. now owns 931,618 shares of the financial services provider’s stock worth $10,481,000 after acquiring an additional 53,678 shares during the period. Marshall Wace LLP purchased a new position in Goldman Sachs BDC during the second quarter worth about $1,832,000. Finally, Cresset Asset Management LLC raised its holdings in Goldman Sachs BDC by 80.7% during the second quarter. Cresset Asset Management LLC now owns 31,293 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 13,975 shares in the last quarter. 28.72% of the stock is owned by institutional investors and hedge funds.

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.