Goldman Sachs BDC (NYSE:GSBD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other research analysts have also recently weighed in on the stock. Bank of America reiterated an “underperform” rating and issued a $8.50 target price (down from $9.00) on shares of Goldman Sachs BDC in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Tuesday, June 2nd. The Goldman Sachs Group cut shares of Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 price target on the stock. in a report on Thursday, July 9th. Zacks Research upgraded Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Truist Financial reduced their price objective on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a report on Tuesday, May 19th. Four analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $8.75.

Goldman Sachs BDC Price Performance

Shares of NYSE:GSBD opened at $9.73 on Friday. The company’s 50-day moving average is $9.08 and its 200 day moving average is $9.20. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $1.10 billion, a P/E ratio of 18.71 and a beta of 0.57. Goldman Sachs BDC has a fifty-two week low of $8.35 and a fifty-two week high of $11.62.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. Goldman Sachs BDC had a net margin of 17.19% and a return on equity of 10.92%. The company had revenue of $35.08 million during the quarter, compared to analyst estimates of $78.89 million. On average, equities research analysts forecast that Goldman Sachs BDC will post 1.15 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.28 annualized dividend and a yield of 13.2%. Goldman Sachs BDC’s dividend payout ratio is 246.15%.

Hedge Funds Weigh In On Goldman Sachs BDC

Several large investors have recently modified their holdings of GSBD. XTX Topco Ltd purchased a new stake in shares of Goldman Sachs BDC during the 2nd quarter valued at approximately $194,000. Quantbot Technologies LP purchased a new position in Goldman Sachs BDC in the 2nd quarter valued at approximately $62,000. Invesco Ltd. grew its stake in Goldman Sachs BDC by 6.1% in the 2nd quarter. Invesco Ltd. now owns 931,618 shares of the financial services provider’s stock valued at $10,481,000 after buying an additional 53,678 shares in the last quarter. Marshall Wace LLP bought a new stake in Goldman Sachs BDC during the 2nd quarter valued at $1,832,000. Finally, Cresset Asset Management LLC raised its holdings in Goldman Sachs BDC by 80.7% during the 2nd quarter. Cresset Asset Management LLC now owns 31,293 shares of the financial services provider’s stock valued at $367,000 after acquiring an additional 13,975 shares during the period. Hedge funds and other institutional investors own 28.72% of the company’s stock.

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.