Goldman Sachs BDC (NYSE:GSBD) Issues Quarterly Earnings Results, Misses Estimates By $0.15 EPS

Goldman Sachs BDC (NYSE:GSBD) posted its quarterly earnings data on Thursday. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15), FiscalAI reports. Goldman Sachs BDC had a return on equity of 12.78% and a net margin of 34.72%.The firm had revenue of $38.79 million during the quarter, compared to analysts’ expectations of $87.18 million.

Goldman Sachs BDC Stock Performance

Shares of GSBD traded down $0.07 during mid-day trading on Thursday, reaching $9.19. The company had a trading volume of 2,017,774 shares, compared to its average volume of 1,461,002. The stock has a market capitalization of $1.05 billion, a P/E ratio of 7.92 and a beta of 0.62. Goldman Sachs BDC has a 52-week low of $8.92 and a 52-week high of $13.30. The stock has a 50 day moving average of $9.33 and a two-hundred day moving average of $10.03. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.27.

Analyst Ratings Changes

Several research analysts have commented on the company. Lucid Cap Mkts upgraded Goldman Sachs BDC to a “hold” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Goldman Sachs BDC in a research report on Monday, December 29th. The Goldman Sachs Group started coverage on shares of Goldman Sachs BDC in a research report on Monday, December 15th. They issued a “neutral” rating and a $10.50 price objective on the stock. Zacks Research raised Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, Wells Fargo & Company decreased their price target on shares of Goldman Sachs BDC from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. grew its holdings in Goldman Sachs BDC by 412.8% in the second quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock valued at $12,419,000 after purchasing an additional 888,608 shares during the period. Ares Management LLC boosted its holdings in shares of Goldman Sachs BDC by 77.0% during the 4th quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider’s stock worth $13,113,000 after purchasing an additional 614,637 shares during the last quarter. American Financial Group Inc. acquired a new stake in shares of Goldman Sachs BDC in the 4th quarter worth $4,701,000. Invesco Ltd. increased its holdings in shares of Goldman Sachs BDC by 40.1% during the 4th quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider’s stock worth $13,835,000 after buying an additional 426,859 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Goldman Sachs BDC in the fourth quarter valued at approximately $2,857,000. Hedge funds and other institutional investors own 28.72% of the company’s stock.

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.