Advisors Capital Management LLC Increases Stock Position in Goldman Sachs BDC, Inc. $GSBD

Advisors Capital Management LLC increased its holdings in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) by 14.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 486,553 shares of the financial services provider’s stock after purchasing an additional 61,821 shares during the period. Advisors Capital Management LLC owned 0.41% of Goldman Sachs BDC worth $5,474,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new stake in Goldman Sachs BDC during the second quarter worth $34,000. Private Trust Co. NA raised its position in shares of Goldman Sachs BDC by 1,471.7% in the 2nd quarter. Private Trust Co. NA now owns 5,045 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 4,724 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Goldman Sachs BDC by 48,594.1% during the 2nd quarter. Allworth Financial LP now owns 8,278 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 8,261 shares during the last quarter. Aspiriant LLC lifted its stake in shares of Goldman Sachs BDC by 9.5% during the 2nd quarter. Aspiriant LLC now owns 11,500 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Catalina Capital Group LLC bought a new stake in Goldman Sachs BDC during the second quarter valued at about $140,000. Institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Stock Performance

Shares of Goldman Sachs BDC stock opened at $9.70 on Friday. The company has a 50 day moving average price of $10.29 and a 200 day moving average price of $10.98. The firm has a market capitalization of $1.11 billion, a P/E ratio of 7.69 and a beta of 0.75. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.19. Goldman Sachs BDC, Inc. has a 52 week low of $9.38 and a 52 week high of $13.44.

Goldman Sachs BDC (NYSE:GSBD) last released its earnings results on Thursday, November 6th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $91.60 million for the quarter, compared to the consensus estimate of $88.16 million. Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. Sell-side analysts expect that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current year.

Goldman Sachs BDC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 27th. Investors of record on Wednesday, December 31st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 13.2%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Goldman Sachs BDC’s previous quarterly dividend of $0.04. Goldman Sachs BDC’s payout ratio is currently 110.34%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on shares of Goldman Sachs BDC from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Monday, November 10th. Finally, Zacks Research downgraded shares of Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Sell” and an average price target of $9.00.

Insider Buying and Selling

In other news, CEO Vivek Bantwal purchased 22,000 shares of the stock in a transaction on Friday, September 12th. The stock was bought at an average price of $11.36 per share, with a total value of $249,920.00. Following the transaction, the chief executive officer owned 22,000 shares in the company, valued at $249,920. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Goldman Sachs BDC Profile

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.