Wells Fargo & Company Has Lowered Expectations for Goldman Sachs BDC (NYSE:GSBD) Stock Price

Goldman Sachs BDC (NYSE:GSBD) had its price objective cut by Wells Fargo & Company from $9.00 to $8.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 12.76% from the company’s previous close.

A number of other equities research analysts have also commented on GSBD. Weiss Ratings reissued a “sell (d+)” rating on shares of Goldman Sachs BDC in a report on Monday, December 29th. The Goldman Sachs Group assumed coverage on shares of 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 raised shares of Goldman Sachs BDC to a “hold” rating in a report on Monday, December 15th. Finally, Zacks Research raised Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Goldman Sachs BDC has a consensus rating of “Reduce” and an average price target of $9.25.

Goldman Sachs BDC Trading Up 0.1%

GSBD stock opened at $9.17 on Monday. The business has a fifty day moving average price of $9.30 and a 200 day moving average price of $9.96. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.81 and a quick ratio of 1.81. Goldman Sachs BDC has a fifty-two week low of $8.81 and a fifty-two week high of $12.73. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.82 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 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Goldman Sachs BDC had a return on equity of 12.06% and a net margin of 32.62%.The company had revenue of $38.79 million for the quarter, compared to analyst estimates of $87.18 million. Analysts expect that Goldman Sachs BDC will post 2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. 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 worth $12,419,000 after purchasing an additional 888,608 shares during the period. Ares Management LLC boosted its holdings in Goldman Sachs BDC by 77.0% during the fourth quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider’s stock worth $13,113,000 after buying an additional 614,637 shares during the last quarter. American Financial Group Inc. acquired a new position in shares of Goldman Sachs BDC during the 4th quarter worth about $4,701,000. Invesco Ltd. increased its stake in shares of Goldman Sachs BDC by 40.1% in the 4th quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider’s stock valued at $13,835,000 after acquiring an additional 426,859 shares during the last quarter. Finally, Closed End Fund Advisors Inc. bought a new stake in shares of Goldman Sachs BDC in the 4th quarter valued at about $3,858,000. Institutional investors and hedge funds own 28.72% of the company’s stock.

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.