Goldman Sachs BDC (NYSE:GSBD) Rating Lowered to Sell at Wall Street Zen

Goldman Sachs BDC (NYSE:GSBD) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other research firms also recently weighed in on GSBD. Zacks Research raised shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Lucid Cap Mkts raised shares of Goldman Sachs BDC to a “hold” rating in a research note on Monday, December 15th. Wells Fargo & Company lowered their target price on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, March 2nd. The Goldman Sachs Group initiated coverage on Goldman Sachs BDC in a research report on Monday, December 15th. They issued a “neutral” rating and a $10.50 price target for the company. Finally, Weiss Ratings raised Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $9.50.

Goldman Sachs BDC Stock Up 0.5%

NYSE GSBD opened at $9.35 on Friday. The business has a fifty day moving average price of $9.29 and a 200 day moving average price of $9.94. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.81 and a current ratio of 1.01. The company has a market cap of $1.05 billion, a P/E ratio of 8.99 and a beta of 0.62. Goldman Sachs BDC has a one year low of $8.81 and a one year high of $12.48.

Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, February 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Goldman Sachs BDC had a net margin of 32.62% and a return on equity of 12.23%. The company had revenue of $38.79 million for the quarter, compared to analysts’ expectations of $87.18 million. Research analysts anticipate that Goldman Sachs BDC will post 2.19 EPS for the current fiscal year.

Institutional Trading of Goldman Sachs BDC

Several hedge funds have recently made changes to their positions in the company. MTM Investment Management LLC purchased a new stake in shares of Goldman Sachs BDC during the 2nd quarter valued at approximately $25,000. ORG Partners LLC purchased a new position in Goldman Sachs BDC in the fourth quarter worth approximately $33,000. CWM LLC increased its stake 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 during the last quarter. State of Alaska Department of Revenue purchased a new stake in Goldman Sachs BDC in the third quarter valued at $51,000. Finally, Kestra Advisory Services LLC purchased a new stake in Goldman Sachs BDC in the fourth quarter valued at $57,000. Hedge funds and other 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.