Goldman Sachs BDC (NYSE:GSBD) Stock Rating Lowered by Zacks Research

Goldman Sachs BDC (NYSE:GSBD) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Truist Financial decreased their target price on shares of Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday. Weiss Ratings raised shares of Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, March 5th. Wall Street Zen downgraded shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Wells Fargo & Company decreased 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 note on Monday, March 2nd. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $9.17.

Goldman Sachs BDC Price Performance

Shares of NYSE GSBD opened at $8.94 on Tuesday. Goldman Sachs BDC has a fifty-two week low of $8.65 and a fifty-two week high of $12.03. The company has a 50 day simple moving average of $9.28 and a two-hundred day simple moving average of $9.43. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 13.75 and a beta of 0.62. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11.

Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). Goldman Sachs BDC had a net margin of 21.32% and a return on equity of 10.94%. The business had revenue of $10.35 million for the quarter, compared to the consensus estimate of $83.78 million. Analysts expect that Goldman Sachs BDC will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling at Goldman Sachs BDC

In other news, Director Carlos E. Evans purchased 50,000 shares of Goldman Sachs BDC stock in a transaction that occurred on Thursday, April 2nd. The stock was bought at an average price of $9.02 per share, with a total value of $451,000.00. Following the completion of the transaction, the director directly owned 64,446 shares of the company’s stock, valued at approximately $581,302.92. The trade was a 346.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Goldman Sachs BDC

A number of large investors have recently added to or reduced their stakes in the stock. Saxon Interests Inc. grew its position in Goldman Sachs BDC by 0.8% in the 1st quarter. Saxon Interests Inc. now owns 122,912 shares of the financial services provider’s stock worth $1,091,000 after purchasing an additional 1,032 shares during the period. Oppenheimer & Co. Inc. grew its position in Goldman Sachs BDC by 4.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 27,847 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 1,082 shares during the period. IHT Wealth Management LLC grew its position in Goldman Sachs BDC by 5.7% in the 2nd quarter. IHT Wealth Management LLC now owns 21,647 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 1,173 shares during the period. Ameriprise Financial Inc. grew its position in Goldman Sachs BDC by 1.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 100,190 shares of the financial services provider’s stock worth $1,019,000 after purchasing an additional 1,397 shares during the period. Finally, Wellington Shields & Co. LLC grew its position in Goldman Sachs BDC by 7.1% in the 3rd quarter. Wellington Shields & Co. LLC now owns 21,650 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 1,430 shares during the period. 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.