Goldman Sachs BDC, Inc. (NYSE:GSBD) Receives Average Recommendation of “Reduce” from Brokerages

Goldman Sachs BDC, Inc. (NYSE:GSBD) has been assigned an average rating of “Reduce” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $8.75.

Several brokerages have weighed in on GSBD. Zacks Research raised Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Tuesday, June 2nd. 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 report on Thursday, July 9th. Truist Financial increased their price target on Goldman Sachs BDC from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Finally, The Goldman Sachs Group lowered Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 price target on the stock. in a research note on Thursday, July 9th.

Institutional Investors Weigh In On Goldman Sachs BDC

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in Goldman Sachs BDC during the second quarter valued at approximately $194,000. Quantbot Technologies LP purchased a new stake in shares of Goldman Sachs BDC during the second quarter valued at about $62,000. Invesco Ltd. boosted its holdings in shares of 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 shares of Goldman Sachs BDC in the 2nd quarter valued at about $1,832,000. Finally, Cresset Asset Management LLC grew its position in shares of Goldman Sachs BDC by 80.7% in the 2nd quarter. Cresset Asset Management LLC now owns 31,293 shares of the financial services provider’s stock worth $367,000 after buying an additional 13,975 shares during the last quarter. Hedge funds and other institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Trading Down 0.8%

Shares of Goldman Sachs BDC stock opened at $10.02 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.36. Goldman Sachs BDC has a twelve month low of $8.35 and a twelve month high of $11.53. The business has a 50-day moving average price of $9.27 and a 200-day moving average price of $9.24. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 19.27 and a beta of 0.57.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. Goldman Sachs BDC had a return on equity of 11.04% and a net margin of 17.19%.The business had revenue of $35.08 million for the quarter, compared to analysts’ expectations of $78.89 million. Equities research analysts anticipate that Goldman Sachs BDC will post 1.29 EPS for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.28 dividend on an annualized basis and a yield of 12.8%. Goldman Sachs BDC’s dividend payout ratio (DPR) is 246.15%.

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.