Goldman Sachs BDC, Inc. (NYSE:GSBD) Receives $9.17 Consensus Price Target from Brokerages

Goldman Sachs BDC, Inc. (NYSE:GSBD) has earned an average recommendation of “Reduce” from the six brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $9.1667.

GSBD has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their target price on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Monday, March 2nd. Wall Street Zen lowered Goldman Sachs BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Zacks Research downgraded Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Tuesday, June 2nd. Finally, Truist Financial dropped their price target on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th.

Goldman Sachs BDC Stock Down 0.1%

GSBD stock opened at $9.31 on Friday. 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 firm has a market capitalization of $1.05 billion, a PE ratio of 14.32 and a beta of 0.58. Goldman Sachs BDC has a twelve month low of $8.65 and a twelve month high of $12.03. The stock has a 50-day simple moving average of $9.25 and a two-hundred day simple moving average of $9.33.

Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts predict that Goldman Sachs BDC will post 1.15 EPS for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.8%. The ex-dividend date is Tuesday, June 30th. Goldman Sachs BDC’s dividend payout ratio (DPR) is 196.92%.

Insider Activity

In other news, Director Carlos E. Evans acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were bought at an average cost of $9.02 per share, with a total value of $451,000.00. Following the acquisition, the director owned 64,446 shares in the company, valued at approximately $581,302.92. This represents a 346.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of large investors have recently modified their holdings of GSBD. XTX Topco Ltd purchased a new position in shares of Goldman Sachs BDC during the 2nd quarter valued at about $194,000. Quantbot Technologies LP purchased a new position in shares of Goldman Sachs BDC during the 2nd quarter valued at about $62,000. Invesco Ltd. raised its holdings in shares of Goldman Sachs BDC by 6.1% during 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 in the last quarter. Marshall Wace LLP purchased a new position in shares of Goldman Sachs BDC during the 2nd quarter valued at about $1,832,000. Finally, Cresset Asset Management LLC raised its holdings in shares of 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 valued at $367,000 after buying an additional 13,975 shares in the last quarter. 28.72% of the stock is 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.