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

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

Several other research analysts have also recently issued reports on GSBD. Weiss Ratings reissued a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Tuesday, June 2nd. Bank of America reaffirmed an “underperform” rating and issued a $8.50 price objective (down from $9.00) on shares of Goldman Sachs BDC in a report on Thursday, July 9th. Truist Financial cut their target price on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday, May 19th. Wall Street Zen cut Goldman Sachs BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, The Goldman Sachs Group cut Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 price target for the company. in a report on Thursday, July 9th. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $8.50.

Goldman Sachs BDC Price Performance

Shares of NYSE GSBD opened at $8.85 on Tuesday. The stock has a fifty day moving average price of $9.06 and a 200 day moving average price of $9.21. Goldman Sachs BDC has a 1-year low of $8.35 and a 1-year high of $11.62. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $995.68 million, a PE ratio of 13.61 and a beta of 0.56.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). The firm had revenue of $10.35 million during the quarter, compared to analyst estimates of $83.78 million. Goldman Sachs BDC had a net margin of 21.32% and a return on equity of 10.94%. Sell-side analysts forecast that Goldman Sachs BDC will post 1.15 EPS for the current year.

Goldman Sachs BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a yield of 14.5%. Goldman Sachs BDC’s payout ratio is currently 196.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GSBD. XTX Topco Ltd purchased a new position in Goldman Sachs BDC in the second quarter valued at about $194,000. Quantbot Technologies LP purchased a new stake in shares of Goldman Sachs BDC during the 2nd quarter worth approximately $62,000. Invesco Ltd. grew its holdings in shares of Goldman Sachs BDC by 6.1% in the 2nd quarter. Invesco Ltd. now owns 931,618 shares of the financial services provider’s stock worth $10,481,000 after acquiring an additional 53,678 shares during the period. Marshall Wace LLP acquired a new stake in shares of Goldman Sachs BDC in the 2nd quarter worth approximately $1,832,000. Finally, Cresset Asset Management LLC increased its stake in Goldman Sachs BDC by 80.7% in the 2nd quarter. Cresset Asset Management LLC now owns 31,293 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 13,975 shares in the last quarter. 28.72% of the stock is currently owned by institutional investors and hedge funds.

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.