Goldman Sachs BDC (NYSE:GSBD) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a strong sell rating to a hold rating in a research note published on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on GSBD. Weiss Ratings reissued a “hold (c-)” rating on shares of Goldman Sachs BDC in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their target price on shares of Goldman Sachs BDC from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $9.00.

Goldman Sachs BDC Stock Performance

GSBD traded down $0.12 during trading hours on Thursday, hitting $9.70. 1,851,043 shares of the stock were exchanged, compared to its average volume of 811,499. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 7.69 and a beta of 0.75. The stock has a 50-day simple moving average of $10.29 and a 200-day simple moving average of $10.98. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.50 and a quick ratio of 1.50. Goldman Sachs BDC has a 12 month low of $9.38 and a 12 month high of $13.44.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The firm had revenue of $91.60 million for the quarter, compared to analyst estimates of $88.16 million. Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. Analysts anticipate that Goldman Sachs BDC will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 27th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, December 31st. This is an increase from Goldman Sachs BDC’s previous quarterly dividend of $0.04. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.2%. Goldman Sachs BDC’s dividend payout ratio is presently 110.34%.

Insider Transactions at Goldman Sachs BDC

In other Goldman Sachs BDC news, CEO Vivek Bantwal purchased 22,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $11.36 per share, with a total value of $249,920.00. Following the completion of the purchase, the chief executive officer directly owned 22,000 shares in the company, valued at approximately $249,920. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GSBD. MTM Investment Management LLC bought a new position in shares of Goldman Sachs BDC during the second quarter worth about $25,000. Farther Finance Advisors LLC bought a new position in shares of Goldman Sachs BDC during the 2nd quarter worth approximately $34,000. CWM LLC lifted its position in shares of Goldman Sachs BDC by 187.8% in the third quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 3,174 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Goldman Sachs BDC during the third quarter worth $51,000. Finally, Private Trust Co. NA grew its position in Goldman Sachs BDC by 1,471.7% in the second quarter. Private Trust Co. NA now owns 5,045 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 4,724 shares in the last quarter. Institutional investors and hedge funds own 28.72% of the company’s stock.

About Goldman Sachs BDC

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.