Goldman Sachs BDC (NYSE:GSBD) Sets New 1-Year Low – What’s Next?

Goldman Sachs BDC, Inc. (NYSE:GSBD) reached a new 52-week low on Wednesday . The stock traded as low as $9.30 and last traded at $9.3050, with a volume of 380244 shares. The stock had previously closed at $9.63.

Analysts Set New Price Targets

GSBD has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Goldman Sachs BDC in a research report on Monday, December 15th. They set a “neutral” rating and a $10.50 target price on the stock. Lucid Cap Mkts upgraded Goldman Sachs BDC to a “hold” rating in a research report on Monday, December 15th. Wells Fargo & Company lowered their price objective on Goldman Sachs BDC from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. Zacks Research raised Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Goldman Sachs BDC in a report on Monday. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $9.75.

Goldman Sachs BDC Stock Down 3.5%

The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 8.01 and a beta of 0.64. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.27. The firm has a fifty 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 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Goldman Sachs BDC had a return on equity of 12.78% and a net margin of 34.72%.The company had revenue of $91.60 million for the quarter, compared to analyst estimates of $88.16 million. Sell-side analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Increases Dividend

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

Institutional Trading of Goldman Sachs BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MTM Investment Management LLC bought a new position in shares of Goldman Sachs BDC during the second quarter worth $25,000. Farther Finance Advisors LLC acquired a new stake in Goldman Sachs BDC during the 2nd quarter worth $34,000. CWM LLC lifted its holdings in Goldman Sachs BDC by 187.8% during the third quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 3,174 shares in the last quarter. Private Trust Co. NA grew its stake in Goldman Sachs BDC by 1,471.7% in the second quarter. Private Trust Co. NA now owns 5,045 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 4,724 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in Goldman Sachs BDC in the third quarter valued at about $51,000. 28.72% of the stock is owned by institutional investors.

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.