Goldman Sachs BDC (NYSE:GSBD) Stock Rating Upgraded by Wall Street Zen

Goldman Sachs BDC (NYSE:GSBD) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other brokerages have also commented on GSBD. Lucid Cap Mkts upgraded Goldman Sachs BDC to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings raised Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. The Goldman Sachs Group started coverage on Goldman Sachs BDC in a research note on Monday, December 15th. They set a “neutral” rating and a $10.50 price objective on the stock. Truist Financial decreased 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 report on Wednesday, March 4th. Finally, Wells Fargo & Company lowered their target price on shares of Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, March 2nd. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Goldman Sachs BDC has an average rating of “Reduce” and a consensus target price of $9.50.

Goldman Sachs BDC Stock Performance

Shares of GSBD opened at $9.14 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.32. Goldman Sachs BDC has a 12-month low of $8.81 and a 12-month high of $12.43. The company has a 50-day moving average of $9.26 and a two-hundred day moving average of $9.86. The stock has a market cap of $1.03 billion, a P/E ratio of 8.78 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings results 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. The business had revenue of $38.79 million during the quarter, compared to the consensus estimate of $87.18 million. Goldman Sachs BDC had a return on equity of 12.23% and a net margin of 32.62%. As a group, research analysts predict that Goldman Sachs BDC will post 2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in Goldman Sachs BDC by 55.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,965 shares of the financial services provider’s stock worth $7,241,000 after buying an additional 254,828 shares in the last quarter. Ares Management LLC raised its stake in Goldman Sachs BDC by 72.8% during the 2nd quarter. Ares Management LLC now owns 798,421 shares of the financial services provider’s stock valued at $8,982,000 after acquiring an additional 336,437 shares in the last quarter. Muzinich & Co. Inc. raised its stake in Goldman Sachs BDC by 50.9% during the 3rd quarter. Muzinich & Co. Inc. now owns 766,299 shares of the financial services provider’s stock valued at $7,793,000 after acquiring an additional 258,362 shares in the last quarter. Osaic Holdings Inc. boosted its position in Goldman Sachs BDC by 176.0% during the 2nd quarter. Osaic Holdings Inc. now owns 520,676 shares of the financial services provider’s stock worth $5,858,000 after acquiring an additional 332,002 shares during the period. Finally, TT Capital Management LLC bought a new position in shares of Goldman Sachs BDC in the second quarter worth $1,202,000. Institutional investors 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.