Goldman Sachs BDC, Inc. (NYSE:GSBD) Given Average Recommendation of “Reduce” by Brokerages

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) have been given an average rating of “Reduce” by the six brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $9.50.

GSBD has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Goldman Sachs BDC from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Goldman Sachs BDC in a report on Monday, December 29th. Wells Fargo & Company reduced 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. Zacks Research raised shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, The Goldman Sachs Group started coverage on shares of Goldman Sachs BDC in a research note on Monday, December 15th. They set a “neutral” rating and a $10.50 target price for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. boosted its holdings in Goldman Sachs BDC by 412.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock valued at $12,419,000 after purchasing an additional 888,608 shares during the last quarter. Ares Management LLC raised its position in shares of Goldman Sachs BDC by 77.0% during the 4th quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider’s stock valued at $13,113,000 after buying an additional 614,637 shares during the period. American Financial Group Inc. acquired a new position in Goldman Sachs BDC in the fourth quarter valued at approximately $4,701,000. Invesco Ltd. grew its position in Goldman Sachs BDC by 40.1% in the fourth quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider’s stock worth $13,835,000 after acquiring an additional 426,859 shares during the period. Finally, Closed End Fund Advisors Inc. acquired a new stake in Goldman Sachs BDC during the fourth quarter worth $3,858,000. Hedge funds and other institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Stock Up 2.0%

GSBD opened at $9.35 on Thursday. The company has a fifty day moving average of $9.30 and a two-hundred day moving average of $9.96. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 8.99 and a beta of 0.62. Goldman Sachs BDC has a fifty-two week low of $8.81 and a fifty-two week high of $12.60. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.81 and a current ratio of 1.01.

Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, February 26th. The financial services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $38.79 million for the quarter, compared to analysts’ expectations of $87.18 million. Goldman Sachs BDC had a return on equity of 12.23% and a net margin of 32.62%. On average, research analysts expect that Goldman Sachs BDC will post 2.19 earnings per share 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. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.7%. Goldman Sachs BDC’s dividend payout ratio is presently 123.08%.

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.