Goldman Sachs BDC, Inc. (NYSE:GSBD) Sees Significant Decline in Short Interest

Goldman Sachs BDC, Inc. (NYSE:GSBD) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 1,692,488 shares, a decrease of 18.6% from the November 30th total of 2,080,024 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,198,304 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily trading volume, of 1,198,304 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.5% of the company’s stock are short sold.

Goldman Sachs BDC Trading Down 3.5%

Shares of NYSE:GSBD opened at $9.29 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 8.01 and a beta of 0.64. Goldman Sachs BDC has a 1-year low of $9.26 and a 1-year high of $13.44. The company has a 50 day moving average price of $9.79 and a 200 day moving average price of $10.66.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The firm had revenue of $91.60 million for the quarter, compared to the consensus estimate of $88.16 million. Goldman Sachs BDC had a return on equity of 12.78% and a net margin of 34.72%. On average, research analysts anticipate that Goldman Sachs BDC will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 27th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.32 per share. This is a positive change from Goldman Sachs BDC’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, December 31st. This represents a $1.28 annualized dividend and a dividend yield of 13.8%. Goldman Sachs BDC’s dividend payout ratio (DPR) is currently 110.34%.

Institutional Investors Weigh In On Goldman Sachs BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC acquired a new position in Goldman Sachs BDC during the 2nd quarter worth $97,711,000. Generali Asset Management SPA SGR increased its stake in shares of Goldman Sachs BDC by 52.3% in the second quarter. Generali Asset Management SPA SGR now owns 3,294,022 shares of the financial services provider’s stock worth $37,058,000 after purchasing an additional 1,131,403 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of Goldman Sachs BDC by 412.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock worth $12,419,000 after purchasing an additional 888,608 shares during the last quarter. Ares Management LLC bought a new stake in Goldman Sachs BDC during the 1st quarter valued at approximately $5,373,000. Finally, Osaic Holdings Inc. grew its holdings in Goldman Sachs BDC by 176.0% in the 2nd quarter. Osaic Holdings Inc. now owns 520,676 shares of the financial services provider’s stock valued at $5,858,000 after buying an additional 332,002 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on GSBD shares. The Goldman Sachs Group started coverage on shares of Goldman Sachs BDC in a report on Monday, December 15th. They issued a “neutral” rating and a $10.50 price target for the company. Zacks Research upgraded Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Goldman Sachs BDC in a research note on Monday. Lucid Cap Mkts upgraded Goldman Sachs BDC to a “hold” rating in a research note on Monday, December 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Goldman Sachs BDC from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Goldman Sachs BDC currently has an average rating of “Reduce” and an average price target of $9.75.

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.