Goldman Sachs BDC, Inc. (NYSE:GSBD) Receives $9.50 Average Price Target from Analysts

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) have been assigned an average rating of “Reduce” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.50.

Several research analysts have commented on GSBD shares. Wells Fargo & Company cut their price objective 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. The Goldman Sachs Group initiated coverage on Goldman Sachs BDC in a research note on Monday, December 15th. They issued a “neutral” rating and a $10.50 target price for the company. Lucid Cap Mkts upgraded Goldman Sachs BDC to a “hold” rating in a report on Monday, December 15th. Wall Street Zen raised Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Truist Financial lowered their price objective on shares of Goldman Sachs BDC from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th.

Goldman Sachs BDC Stock Performance

Goldman Sachs BDC stock opened at $8.79 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.01 and a quick ratio of 1.01. Goldman Sachs BDC has a 12 month low of $8.69 and a 12 month high of $12.03. The company has a market cap of $988.93 million, a price-to-earnings ratio of 8.45 and a beta of 0.57. The stock’s 50-day moving average is $9.23 and its 200-day moving average is $9.65.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings results on Friday, February 27th. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The firm had revenue of $38.79 million for the quarter, compared to analyst estimates of $87.18 million. Goldman Sachs BDC had a net margin of 32.62% and a return on equity of 12.23%. Equities 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 declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 14.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Goldman Sachs BDC’s dividend payout ratio (DPR) is presently 123.08%.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. grew its stake in shares of Goldman Sachs BDC by 412.8% during the second quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock valued at $12,419,000 after acquiring an additional 888,608 shares in the last quarter. Ares Management LLC raised its position in shares of Goldman Sachs BDC by 77.0% in the 4th quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider’s stock valued at $13,113,000 after purchasing an additional 614,637 shares in the last quarter. American Financial Group Inc. acquired a new position in shares of Goldman Sachs BDC in the 4th quarter valued at approximately $4,701,000. Invesco Ltd. boosted its stake in shares of Goldman Sachs BDC by 40.1% during the 4th quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider’s stock valued at $13,835,000 after buying an additional 426,859 shares during the last quarter. Finally, Closed End Fund Advisors Inc. acquired a new stake in shares of Goldman Sachs BDC during the fourth quarter worth approximately $3,858,000. 28.72% of the stock is owned by hedge funds and other institutional investors.

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.