Goldman Sachs BDC (NYSE:GSBD) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $9.16 and traded as high as $9.89. Goldman Sachs BDC shares last traded at $9.77, with a volume of 980,036 shares.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GSBD shares. Zacks Research upgraded shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Tuesday, June 2nd. Truist Financial raised their price objective on Goldman Sachs BDC from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday, August 10th. Bank of America reaffirmed an “underperform” rating and issued a $8.50 target price (down from $9.00) on shares of Goldman Sachs BDC in a report on Thursday, July 9th. Finally, Wall Street Zen upgraded Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Goldman Sachs BDC presently has an average rating of “Reduce” and a consensus price target of $8.75.

Goldman Sachs BDC Price Performance

The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.36. The business’s 50-day simple moving average is $9.18 and its two-hundred day simple moving average is $9.21. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 18.95 and a beta of 0.57.

Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, August 6th. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $35.08 million during the quarter, compared to the consensus estimate of $78.89 million. Goldman Sachs BDC had a net margin of 17.19% and a return on equity of 11.04%. As a group, research analysts expect that Goldman Sachs BDC, Inc. will post 1.2 EPS for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 13.0%. Goldman Sachs BDC’s dividend payout ratio (DPR) is 246.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in shares of Goldman Sachs BDC during the second quarter valued at about $194,000. Quantbot Technologies LP acquired a new stake in shares of Goldman Sachs BDC in the 2nd quarter valued at about $62,000. Invesco Ltd. grew its stake 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 valued at $10,481,000 after buying an additional 53,678 shares during the period. Marshall Wace LLP bought a new stake in Goldman Sachs BDC in the 2nd quarter valued at about $1,832,000. Finally, Cresset Asset Management LLC raised its stake in Goldman Sachs BDC by 80.7% during the 2nd quarter. Cresset Asset Management LLC now owns 31,293 shares of the financial services provider’s stock worth $367,000 after buying an additional 13,975 shares during the period. 28.72% of the stock is owned by institutional investors.

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.