Wells Fargo & Company Has Lowered Expectations for Goldman Sachs BDC (NYSE:GSBD) Stock Price

Goldman Sachs BDC (NYSE:GSBD) had its price objective decreased by analysts at Wells Fargo & Company from $9.00 to $8.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 13.09% from the stock’s current price.

Several other research firms have also issued reports on GSBD. Zacks Research upgraded shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. The Goldman Sachs Group began coverage on Goldman Sachs BDC in a report on Monday, December 15th. They issued a “neutral” rating and a $10.50 target price on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Goldman Sachs BDC in a report on Monday, December 29th. Finally, Lucid Cap Mkts upgraded Goldman Sachs BDC to a “hold” rating in a research report on Monday, December 15th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Goldman Sachs BDC currently has an average rating of “Reduce” and an average price target of $9.25.

Goldman Sachs BDC Price Performance

NYSE:GSBD traded up $0.15 during mid-day trading on Monday, reaching $9.21. 923,759 shares of the stock were exchanged, compared to its average volume of 1,522,854. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.27. The business has a fifty day moving average price of $9.32 and a 200 day moving average price of $9.99. Goldman Sachs BDC has a 1-year low of $8.81 and a 1-year high of $13.06. The firm has a market capitalization of $1.05 billion, a PE ratio of 8.86 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings data on Thursday, February 26th. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $38.79 million during the quarter, compared to analyst estimates of $87.18 million. Goldman Sachs BDC had a net margin of 32.62% and a return on equity of 12.06%. Research analysts expect that Goldman Sachs BDC will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Allworth Financial LP boosted its position in Goldman Sachs BDC by 48,594.1% during the 2nd quarter. Allworth Financial LP now owns 8,278 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 8,261 shares during the period. Wealth Alliance LLC lifted its position in shares of Goldman Sachs BDC by 116.0% in the second quarter. Wealth Alliance LLC now owns 43,955 shares of the financial services provider’s stock worth $494,000 after purchasing an additional 23,610 shares in the last quarter. Hibernia Wealth Partners LLC lifted its position in shares of Goldman Sachs BDC by 61.3% in the second quarter. Hibernia Wealth Partners LLC now owns 61,029 shares of the financial services provider’s stock worth $687,000 after purchasing an additional 23,196 shares in the last quarter. Advisors Capital Management LLC boosted its holdings in shares of Goldman Sachs BDC by 14.6% during the second quarter. Advisors Capital Management LLC now owns 486,553 shares of the financial services provider’s stock worth $5,474,000 after purchasing an additional 61,821 shares during the period. Finally, Cetera Investment Advisers grew its position in Goldman Sachs BDC by 10.8% during the second quarter. Cetera Investment Advisers now owns 86,052 shares of the financial services provider’s stock valued at $968,000 after purchasing an additional 8,370 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.