Goldman Sachs BDC (NYSE:GSBD) Sets New 52-Week Low – Here’s What Happened

Goldman Sachs BDC, Inc. (NYSE:GSBD) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $8.64 and last traded at $8.6750, with a volume of 897211 shares. The stock had previously closed at $8.93.

Analyst Upgrades and Downgrades

GSBD has been the topic of several research reports. Bank of America reiterated an “underperform” rating and issued a $8.50 price target (down from $9.00) on shares of Goldman Sachs BDC in a research report on Thursday. Truist Financial cut their price objective on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. The Goldman Sachs Group lowered Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 target price on the stock. in a research note on Thursday. Wall Street Zen cut Goldman Sachs BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Zacks Research downgraded Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Three analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus target price of $8.50.

Goldman Sachs BDC Stock Down 3.5%

The stock has a market cap of $969.78 million, a price-to-earnings ratio of 13.28 and a beta of 0.56. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39. The firm’s 50 day moving average is $9.23 and its two-hundred day moving average is $9.27.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.22 earnings per share (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%. On average, sell-side analysts predict that Goldman Sachs BDC, Inc. will post 1.15 EPS for the current year.

Goldman Sachs BDC Announces Dividend

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 paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.28 annualized dividend and a dividend yield of 14.9%. Goldman Sachs BDC’s dividend payout ratio is presently 196.92%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Closed End Fund Advisors Inc. acquired a new position in shares of Goldman Sachs BDC during the 4th quarter valued at about $3,858,000. UBS Group AG boosted its position in shares of Goldman Sachs BDC by 18.2% in the fourth quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider’s stock worth $14,915,000 after acquiring an additional 247,163 shares during the last quarter. Sage Rhino Capital LLC boosted its position in shares of Goldman Sachs BDC by 39.9% in the fourth quarter. Sage Rhino Capital LLC now owns 409,885 shares of the financial services provider’s stock worth $3,804,000 after acquiring an additional 117,000 shares during the last quarter. Saxon Interests Inc. purchased a new stake in Goldman Sachs BDC in the fourth quarter valued at approximately $1,131,000. Finally, Argentarii LLC purchased a new stake in Goldman Sachs BDC in the fourth quarter valued at approximately $585,000. 28.72% of the stock is currently owned by institutional investors and hedge funds.

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.