StockNews.com Upgrades Goldman Sachs BDC (NYSE:GSBD) to Hold

StockNews.com upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a sell rating to a hold rating in a research report released on Sunday morning.

Goldman Sachs BDC Stock Performance

Shares of GSBD stock opened at $12.34 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a 50-day moving average of $12.62 and a 200-day moving average of $12.99. Goldman Sachs BDC has a one year low of $11.72 and a one year high of $15.94. The company has a market cap of $1.45 billion, a P/E ratio of 17.63 and a beta of 1.06.

Goldman Sachs BDC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Monday, March 31st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Monday, March 31st. This is an increase from Goldman Sachs BDC’s previous quarterly dividend of $0.05. Goldman Sachs BDC’s payout ratio is presently 224.56%.

Institutional Trading of Goldman Sachs BDC

A number of institutional investors and hedge funds have recently modified their holdings of GSBD. Van ECK Associates Corp boosted its position in Goldman Sachs BDC by 1.0% in the fourth quarter. Van ECK Associates Corp now owns 2,732,785 shares of the financial services provider’s stock worth $33,066,000 after purchasing an additional 25,888 shares during the last quarter. Invesco Ltd. raised its stake in shares of Goldman Sachs BDC by 11.9% during the 4th quarter. Invesco Ltd. now owns 1,095,489 shares of the financial services provider’s stock worth $13,255,000 after purchasing an additional 116,154 shares during the period. Generali Asset Management SPA SGR purchased a new position in shares of Goldman Sachs BDC in the 4th quarter worth about $12,879,000. Advisors Capital Management LLC grew its position in Goldman Sachs BDC by 4.6% during the fourth quarter. Advisors Capital Management LLC now owns 775,035 shares of the financial services provider’s stock valued at $9,378,000 after buying an additional 34,222 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Goldman Sachs BDC during the fourth quarter valued at about $8,114,000. 28.72% of the stock is owned by hedge funds and other institutional investors.

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.