Wells Fargo & Company Trims Goldman Sachs BDC (NYSE:GSBD) Target Price to $18.50

Goldman Sachs BDC (NYSE:GSBDGet Rating) had its target price reduced by research analysts at Wells Fargo & Company from $19.50 to $18.50 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 5.08% from the stock’s previous close.

Separately, StockNews.com cut shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday.

Shares of GSBD stock opened at $19.49 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.99 billion, a P/E ratio of 10.31 and a beta of 1.33. The stock has a 50 day simple moving average of $19.79 and a 200 day simple moving average of $19.46. Goldman Sachs BDC has a 1 year low of $18.31 and a 1 year high of $20.65.

Goldman Sachs BDC (NYSE:GSBDGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter. Goldman Sachs BDC had a net margin of 55.46% and a return on equity of 13.55%. The company had revenue of $83.76 million during the quarter. Analysts forecast that Goldman Sachs BDC will post 1.77 EPS for the current year.

A number of large investors have recently made changes to their positions in GSBD. Van ECK Associates Corp raised its position in Goldman Sachs BDC by 9.8% in the 4th quarter. Van ECK Associates Corp now owns 1,275,609 shares of the financial services provider’s stock worth $24,441,000 after purchasing an additional 113,334 shares during the period. Invesco Ltd. increased its position in shares of Goldman Sachs BDC by 3.7% in the third quarter. Invesco Ltd. now owns 982,160 shares of the financial services provider’s stock valued at $18,023,000 after acquiring an additional 34,886 shares during the period. Icapital Wealth LLC bought a new stake in shares of Goldman Sachs BDC during the 1st quarter valued at about $13,697,000. AXS Investments LLC bought a new stake in shares of Goldman Sachs BDC during the 3rd quarter valued at about $11,876,000. Finally, Millennium Management LLC boosted its stake in shares of Goldman Sachs BDC by 146.0% during the 3rd quarter. Millennium Management LLC now owns 632,173 shares of the financial services provider’s stock valued at $11,600,000 after purchasing an additional 375,182 shares in the last quarter. 27.00% of the stock is owned by hedge funds and other institutional investors.

About Goldman Sachs BDC (Get Rating)

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.

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