Goldman Sachs BDC (NYSE:GSBD) Stock Moved Up to “Strong-Buy” by Zacks Research

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

GSBD has been the topic of several other reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Goldman Sachs BDC in a research note on Friday, August 28th. Bank of America reaffirmed an “underperform” rating and set a $8.50 price objective (down from $9.00) on shares of Goldman Sachs BDC in a research report on Thursday, July 9th. Truist Financial lifted their price objective on shares of Goldman Sachs BDC from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, The Goldman Sachs Group lowered shares of Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 target price on the stock. in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Goldman Sachs BDC has a consensus rating of “Reduce” and an average price target of $8.75.

Goldman Sachs BDC Stock Performance

GSBD stock opened at $9.09 on Tuesday. The firm has a market cap of $1.02 billion, a PE ratio of 17.48 and a beta of 0.60. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.36. The stock has a 50-day moving average price of $9.57 and a 200-day moving average price of $9.33. Goldman Sachs BDC has a 1-year low of $8.35 and a 1-year high of $10.38.

Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, August 6th. The financial services provider reported $0.37 EPS for the quarter, beating 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 company had revenue of $35.08 million for the quarter, compared to analyst estimates of $78.89 million. As a group, equities research analysts expect that Goldman Sachs BDC will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GSBD. SHP Wealth Management acquired a new position in shares of Goldman Sachs BDC during the fourth quarter valued at about $63,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Goldman Sachs BDC in the 2nd quarter worth about $89,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Goldman Sachs BDC in the 1st quarter worth about $114,000. Kavar Capital Partners Group LLC bought a new position in Goldman Sachs BDC in the 1st quarter valued at about $119,000. Finally, Sovran Advisors LLC lifted its position in Goldman Sachs BDC by 14.4% in the 1st quarter. Sovran Advisors LLC now owns 14,245 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 1,790 shares in the last quarter. 28.72% of the stock is owned by institutional investors.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc (NYSE: GSBD) is a business development company that invests in privately held, middle-market businesses. The company seeks to generate income and provide long-term capital appreciation by making investments primarily in debt securities and, to a lesser extent, equity interests.

Goldman Sachs BDC’s portfolio typically includes senior secured loans, unitranche loans, second-lien loans and subordinated debt, along with equity investments such as warrants or other ownership interests.