Goldman Sachs BDC (NYSE:GSBD) Reaches New 1-Year Low – Here’s What Happened

by · The Markets Daily

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $12.76 and last traded at $13.04, with a volume of 410399 shares. The stock had previously closed at $12.85.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GSBD shares. StockNews.com upgraded Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Truist Financial lowered their price target on shares of Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, Wells Fargo & Company raised shares of Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $14.00 to $12.00 in a research note on Monday, August 12th.

Read Our Latest Report on GSBD

Goldman Sachs BDC Stock Up 2.4 %

The company’s 50 day moving average price is $13.82 and its two-hundred day moving average price is $14.67. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.22. The stock has a market cap of $1.54 billion, a P/E ratio of 15.45 and a beta of 1.07.

Goldman Sachs BDC (NYSE:GSBD – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05. Goldman Sachs BDC had a net margin of 19.84% and a return on equity of 15.79%. The firm had revenue of $108.62 million during the quarter, compared to the consensus estimate of $112.07 million. As a group, research analysts expect that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Monday, September 30th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 13.68%. The ex-dividend date of this dividend was Monday, September 30th. Goldman Sachs BDC’s payout ratio is 211.76%.

Hedge Funds Weigh In On Goldman Sachs BDC

Several institutional investors have recently bought and sold shares of GSBD. Marshall Wace LLP purchased a new position in Goldman Sachs BDC during the second quarter valued at approximately $18,533,000. Van ECK Associates Corp grew its holdings in Goldman Sachs BDC by 20.3% in the second quarter. Van ECK Associates Corp now owns 2,451,439 shares of the financial services provider’s stock worth $36,845,000 after purchasing an additional 413,745 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Goldman Sachs BDC by 2,121.3% in the third quarter. International Assets Investment Management LLC now owns 329,200 shares of the financial services provider’s stock worth $45,300,000 after purchasing an additional 314,380 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Goldman Sachs BDC by 45.8% during the first quarter. Cetera Investment Advisers now owns 387,379 shares of the financial services provider’s stock valued at $5,803,000 after buying an additional 121,765 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of Goldman Sachs BDC by 762.7% during the first quarter. Cetera Advisors LLC now owns 136,015 shares of the financial services provider’s stock valued at $2,038,000 after buying an additional 120,249 shares during the last quarter. 28.72% of the stock is owned by hedge funds and other institutional investors.

Goldman Sachs BDC Company Profile

(Get Free Report)

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.

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