Goldman Sachs BDC (NYSE:GSBD) Stock Gets Downgrade from Zacks Research

Goldman Sachs BDC (NYSE:GSBD) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Several other research firms have also issued reports on GSBD. Truist Financial reduced their target price on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a report on Tuesday. Weiss Ratings downgraded Goldman Sachs BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, November 4th. Finally, Wall Street Zen upgraded Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Three research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Goldman Sachs BDC has a consensus rating of “Strong Sell” and an average price target of $8.50.

Goldman Sachs BDC Stock Up 0.1%

Goldman Sachs BDC stock opened at $8.51 on Tuesday. Goldman Sachs BDC has a fifty-two week low of $8.35 and a fifty-two week high of $10.38. The stock has a market cap of $945.14 million, a PE ratio of 32.74 and a beta of 0.62. The firm’s 50-day simple moving average is $9.14 and its 200 day simple moving average is $9.24. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.69 and a current ratio of 0.73.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Goldman Sachs BDC had a return on equity of 10.56% and a net margin of 9.21%. The firm had revenue of $74.99 million during the quarter, compared to the consensus estimate of $80.13 million. Research analysts predict that Goldman Sachs BDC will post 1.25 EPS for the current fiscal year.

Institutional Trading of Goldman Sachs BDC

Several hedge funds have recently added to or reduced their stakes in GSBD. Integrated Wealth Concepts LLC purchased a new position in Goldman Sachs BDC in the second quarter valued at about $89,000. Sovran Advisors LLC grew its position in shares of Goldman Sachs BDC by 14.4% during the 1st quarter. Sovran Advisors LLC now owns 14,245 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 1,790 shares during the period. Prosperity Planning Inc. purchased a new stake in shares of Goldman Sachs BDC during the 3rd quarter worth approximately $134,000. Bridgewealth Advisory Group LLC purchased a new stake in shares of Goldman Sachs BDC during the 3rd quarter worth approximately $147,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Goldman Sachs BDC by 17.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,000 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 2,545 shares during the last quarter. Institutional investors own 28.72% of the company’s stock.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc. is a business development company that provides financing to middle-market companies, primarily in the United States. It seeks to support businesses that may need capital for growth, acquisitions, refinancing, or other corporate purposes. The company invests mainly in debt securities, including senior secured, unitranche, second-lien, and subordinated loans. It may also make equity and equity-related investments, often alongside its lending activities. Goldman Sachs BDC is externally managed by Goldman Sachs Asset Management, part of Goldman Sachs.