Goldman Sachs BDC (NYSE:GSBD) Sets New 52-Week Low – Here’s What Happened

Goldman Sachs BDC, Inc. (NYSE:GSBD) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.80 and last traded at $8.77, with a volume of 9625 shares. The stock had previously closed at $9.04.

Analysts Set New Price Targets

GSBD has been the subject of a number of recent research reports. Lucid Cap Mkts raised shares of Goldman Sachs BDC to a “hold” rating in a report on Monday, December 15th. Wells Fargo & Company lowered their price objective on shares of Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, March 2nd. Truist Financial dropped 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 research note on Wednesday, March 4th. Weiss Ratings upgraded shares of Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, March 5th. Finally, The Goldman Sachs Group initiated 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. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Goldman Sachs BDC presently has a consensus rating of “Reduce” and an average target price of $9.50.

Goldman Sachs BDC Trading Down 1.1%

The stock has a market cap of $988.93 million, a PE ratio of 8.45 and a beta of 0.57. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average price of $9.23 and a 200 day moving average price of $9.65.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Friday, February 27th. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $38.79 million for the quarter, compared to analyst estimates of $87.18 million. Goldman Sachs BDC had a return on equity of 12.23% and a net margin of 32.62%. Equities analysts expect that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current year.

Goldman Sachs BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.28 annualized dividend and a dividend yield of 14.6%. Goldman Sachs BDC’s dividend payout ratio is currently 123.08%.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of large investors have recently made changes to their positions in GSBD. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Goldman Sachs BDC by 55.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,965 shares of the financial services provider’s stock valued at $7,241,000 after buying an additional 254,828 shares during the last quarter. Ares Management LLC raised its holdings in shares of Goldman Sachs BDC by 72.8% in the second quarter. Ares Management LLC now owns 798,421 shares of the financial services provider’s stock worth $8,982,000 after buying an additional 336,437 shares during the period. Muzinich & Co. Inc. lifted its stake in shares of 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 worth $7,793,000 after acquiring an additional 258,362 shares during the last quarter. Osaic Holdings Inc. boosted its holdings 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 valued at $5,858,000 after acquiring an additional 332,002 shares during the period. Finally, TT Capital Management LLC purchased a new position in Goldman Sachs BDC during the 2nd quarter valued at $1,202,000. 28.72% of the stock is owned by hedge funds and other institutional investors.

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.