Goldman Sachs BDC (NYSE:GSBD) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a sell rating to a hold rating in a report issued on Sunday morning.

Several other research analysts have also recently weighed in on GSBD. The Goldman Sachs Group started coverage on shares of Goldman Sachs BDC in a research note on Monday, December 15th. They set a “neutral” rating and a $10.50 price target on the stock. Lucid Cap Mkts upgraded Goldman Sachs BDC to a “hold” rating in a research note on Monday, December 15th. Truist Financial decreased their target price on Goldman Sachs BDC from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Wells Fargo & Company lowered their target price on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, March 2nd. Finally, Weiss Ratings raised Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, March 5th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Goldman Sachs BDC currently has an average rating of “Reduce” and a consensus price target of $9.50.

Goldman Sachs BDC Price Performance

NYSE GSBD opened at $9.14 on Friday. The company has a 50-day moving average price of $9.26 and a 200-day moving average price of $9.85. Goldman Sachs BDC has a 52 week low of $8.81 and a 52 week high of $12.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $1.03 billion, a P/E ratio of 8.78 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings data on Thursday, February 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Goldman Sachs BDC had a net margin of 32.62% and a return on equity of 12.23%. The company had revenue of $38.79 million for the quarter, compared to the consensus estimate of $87.18 million. Equities research analysts anticipate that Goldman Sachs BDC will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.0%. Goldman Sachs BDC’s dividend payout ratio is 123.08%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GSBD. Allworth Financial LP raised its holdings in Goldman Sachs BDC by 48,594.1% during the second quarter. Allworth Financial LP now owns 8,278 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 8,261 shares during the period. Cetera Investment Advisers boosted its stake in shares of Goldman Sachs BDC by 10.8% in the second quarter. Cetera Investment Advisers now owns 86,052 shares of the financial services provider’s stock worth $968,000 after acquiring an additional 8,370 shares during the period. MTM Investment Management LLC bought a new position in shares of Goldman Sachs BDC in the second quarter worth about $25,000. XTX Topco Ltd purchased a new stake in shares of Goldman Sachs BDC during the second quarter worth about $194,000. Finally, J.W. Cole Advisors Inc. grew its position in shares of Goldman Sachs BDC by 13.9% during the second quarter. J.W. Cole Advisors Inc. now owns 90,814 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 11,103 shares in the last quarter. Hedge funds and other institutional investors own 28.72% of the company’s stock.

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.