Goldman Sachs BDC (NYSE:GSBD) Hits New 1-Year Low – Here’s What Happened

Goldman Sachs BDC, Inc. (NYSE:GSBD)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $8.65 and last traded at $8.7850, with a volume of 279785 shares. The stock had previously closed at $8.75.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial set a $9.00 price target on Goldman Sachs BDC in a research report on Tuesday. Wells Fargo & Company reduced their price target on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, March 2nd. Wall Street Zen cut Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings upgraded Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Goldman Sachs BDC currently has an average rating of “Reduce” and a consensus price target of $9.17.

Goldman Sachs BDC Stock Performance

The firm has a 50-day moving average of $9.30 and a two-hundred day moving average of $9.45. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $984.65 million, a PE ratio of 13.47 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings results 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). The company had revenue of $10.35 million for the quarter, compared to analysts’ expectations of $83.78 million. Goldman Sachs BDC had a net margin of 21.32% and a return on equity of 10.94%. Research analysts anticipate that Goldman Sachs BDC, Inc. will post 1.23 EPS for the current year.

Goldman Sachs BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 30th will be given a $0.32 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.6%. Goldman Sachs BDC’s payout ratio is 196.92%.

Insider Activity at Goldman Sachs BDC

In other Goldman Sachs BDC news, Director Carlos E. Evans acquired 50,000 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was acquired at an average cost of $9.02 per share, for a total transaction of $451,000.00. Following the completion of the transaction, the director directly owned 64,446 shares of the company’s stock, valued at $581,302.92. This represents a 346.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Institutional Trading of Goldman Sachs BDC

A number of institutional investors and hedge funds have recently made changes to their positions in GSBD. ORG Partners LLC purchased a new stake in shares of Goldman Sachs BDC in the fourth quarter valued at approximately $33,000. CWM LLC increased 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 valued at $49,000 after buying an additional 3,174 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Goldman Sachs BDC in the third quarter valued at approximately $51,000. Kestra Advisory Services LLC purchased a new stake in shares of Goldman Sachs BDC in the fourth quarter valued at approximately $57,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Goldman Sachs BDC in the second quarter valued at approximately $62,000. 28.72% of the stock is currently owned by hedge funds and other 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.