Insider Buying: Goldman Sachs BDC (NYSE:GSBD) Director Buys $18,116.16 in Stock

Goldman Sachs BDC, Inc. (NYSE:GSBD) Director Timothy Leach bought 2,004 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average cost of $9.04 per share, with a total value of $18,116.16. Following the acquisition, the director directly owned 19,675 shares in the company, valued at $177,862. This trade represents a 11.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Goldman Sachs BDC Trading Up 1.8%

Shares of Goldman Sachs BDC stock opened at $9.24 on Friday. The company has a market capitalization of $1.04 billion, a P/E ratio of 14.22 and a beta of 0.58. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average of $9.24 and a 200 day moving average of $9.35. Goldman Sachs BDC, Inc. has a fifty-two week low of $8.65 and a fifty-two week high of $12.03.

Goldman Sachs BDC (NYSE:GSBD) last issued its 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 firm had revenue of $10.35 million during the quarter, compared to the consensus estimate of $83.78 million. Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%. On average, sell-side analysts anticipate that Goldman Sachs BDC, Inc. will post 1.15 earnings per share 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 dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 13.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Goldman Sachs BDC’s dividend payout ratio is 196.92%.

Analysts Set New Price Targets

GSBD has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Monday, March 2nd. Truist Financial dropped 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 report on Tuesday, May 19th. Wall Street Zen downgraded shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Tuesday, June 2nd. Finally, Zacks Research downgraded shares of Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $9.17.

Institutional Trading of Goldman Sachs BDC

Several hedge funds have recently made changes to their positions in GSBD. Balyasny Asset Management L.P. raised its position in shares of Goldman Sachs BDC by 412.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock valued at $12,419,000 after buying an additional 888,608 shares in the last quarter. Ares Management LLC raised its position in shares of Goldman Sachs BDC by 77.0% during the 4th quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider’s stock valued at $13,113,000 after buying an additional 614,637 shares in the last quarter. American Financial Group Inc. purchased a new stake in shares of Goldman Sachs BDC during the 4th quarter valued at about $4,701,000. Invesco Ltd. raised its position in shares of Goldman Sachs BDC by 40.1% during the 4th quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider’s stock valued at $13,835,000 after buying an additional 426,859 shares in the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new stake in shares of Goldman Sachs BDC during the 4th quarter valued at about $3,858,000. 28.72% of the stock is currently owned by hedge funds and other institutional investors.

About Goldman Sachs BDC

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.