Goldman Sachs BDC (NYSE:GSBD) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.27 and traded as low as $9.18. Goldman Sachs BDC shares last traded at $9.2550, with a volume of 768,616 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GSBD. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Tuesday, June 2nd. Zacks Research lowered shares of Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Truist Financial cut their price objective on shares of Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Wells Fargo & Company decreased their target price on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, March 2nd. Finally, Wall Street Zen cut shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $9.17.

Goldman Sachs BDC Price Performance

The business’s 50-day simple moving average is $9.27 and its 200-day simple moving average is $9.31. The stock has a market cap of $1.07 billion, a PE ratio of 14.56 and a beta of 0.58. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%.The business had revenue of $10.35 million during the quarter, compared to analysts’ expectations of $83.78 million. On average, research analysts expect that Goldman Sachs BDC, Inc. will post 1.15 EPS for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.28 annualized dividend and a yield of 13.5%. Goldman Sachs BDC’s dividend payout ratio (DPR) is 196.92%.

Insiders Place Their Bets

In other news, Director Carlos E. Evans bought 50,000 shares of Goldman Sachs BDC stock in a transaction on Thursday, April 2nd. The shares were purchased at an average price of $9.02 per share, for a total transaction of $451,000.00. Following the acquisition, the director owned 64,446 shares of the company’s stock, valued at approximately $581,302.92. The trade was a 346.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Goldman Sachs BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Southern Financial Group LLC lifted its position in Goldman Sachs BDC by 11.1% during the 1st quarter. Southern Financial Group LLC now owns 18,110 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 1,806 shares during the period. Bank of America Corp DE lifted its stake in Goldman Sachs BDC by 1.2% during the 1st quarter. Bank of America Corp DE now owns 997,570 shares of the financial services provider’s stock valued at $8,858,000 after acquiring an additional 11,915 shares during the period. Arkadios Wealth Advisors lifted its position in Goldman Sachs BDC by 3.9% during the first quarter. Arkadios Wealth Advisors now owns 54,217 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 2,047 shares during the period. Entropy Technologies LP boosted its stake in shares of Goldman Sachs BDC by 49.8% in the 1st quarter. Entropy Technologies LP now owns 31,462 shares of the financial services provider’s stock worth $279,000 after buying an additional 10,463 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in Goldman Sachs BDC by 13.4% in the first quarter. Cetera Investment Advisers now owns 85,417 shares of the financial services provider’s stock worth $759,000 after purchasing an additional 10,111 shares during the last quarter. Hedge funds and other institutional investors own 28.72% of the company’s stock.

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.