Goldman Sachs BDC (NYSE:GSBD) Price Target Lowered to $10.00 at Truist Financial

Goldman Sachs BDC (NYSE:GSBD) had its target price lowered by research analysts at Truist Financial from $11.00 to $10.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target indicates a potential upside of 8.93% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Research raised shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. The Goldman Sachs Group began coverage on shares of Goldman Sachs BDC in a research report on Monday, December 15th. They set a “neutral” rating and a $10.50 price objective on the stock. Wells Fargo & Company cut their target price on shares of Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday. Lucid Cap Mkts raised Goldman Sachs BDC to a “hold” rating in a research note on Monday, December 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Goldman Sachs BDC in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $9.50.

Goldman Sachs BDC Price Performance

Shares of NYSE:GSBD traded up $0.01 on Wednesday, hitting $9.18. The company’s stock had a trading volume of 163,829 shares, compared to its average volume of 1,525,317. The company has a 50-day simple moving average of $9.30 and a 200 day simple moving average of $9.96. Goldman Sachs BDC has a 1 year low of $8.81 and a 1 year high of $12.60. The company has a market capitalization of $1.03 billion, a PE ratio of 8.83 and a beta of 0.62. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.81 and a quick ratio of 1.81.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported $0.37 EPS for the quarter, topping 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 return on equity of 12.06% and a net margin of 32.62%. Sell-side analysts forecast that Goldman Sachs BDC will post 2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of large investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Goldman Sachs BDC by 55.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,965 shares of the financial services provider’s stock worth $7,241,000 after buying an additional 254,828 shares during the period. Ares Management LLC boosted its holdings in Goldman Sachs BDC by 72.8% during the 2nd quarter. Ares Management LLC now owns 798,421 shares of the financial services provider’s stock valued at $8,982,000 after acquiring an additional 336,437 shares during the period. Muzinich & Co. Inc. grew its position in Goldman Sachs BDC by 50.9% during the 3rd quarter. Muzinich & Co. Inc. now owns 766,299 shares of the financial services provider’s stock worth $7,793,000 after acquiring an additional 258,362 shares during the last quarter. Osaic Holdings Inc. grew its position in Goldman Sachs BDC by 176.0% during the 2nd quarter. Osaic Holdings Inc. now owns 520,676 shares of the financial services provider’s stock worth $5,858,000 after acquiring an additional 332,002 shares during the last quarter. Finally, TT Capital Management LLC purchased a new position in Goldman Sachs BDC in the 2nd quarter worth approximately $1,202,000. 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.