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

Goldman Sachs BDC, Inc. (NYSE:GSBD)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.64 and last traded at $8.6750, with a volume of 897211 shares traded. The stock had previously closed at $8.93.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GSBD shares. Bank of America restated an “underperform” rating and set a $8.50 target price (down from $9.00) on shares of Goldman Sachs BDC in a report on Thursday. 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 research note on Tuesday, May 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Goldman Sachs BDC in a research note on Tuesday, June 2nd. Zacks Research downgraded Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group downgraded Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 price objective on the stock. in a research report on Thursday. Three research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus price target of $8.50.

Goldman Sachs BDC Stock Up 3.4%

The firm’s 50 day moving average is $9.19 and its 200-day moving average is $9.26. The firm has a market cap of $995.46 million, a PE ratio of 13.60 and a beta of 0.56. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39.

Goldman Sachs BDC (NYSE:GSBD) last issued 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). Goldman Sachs BDC had a net margin of 21.32% and a return on equity of 10.94%. The business had revenue of $10.35 million during the quarter, compared to analyst estimates of $83.78 million. As a group, equities research analysts expect that Goldman Sachs BDC, Inc. will post 1.14 earnings per share for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 14.5%. The ex-dividend date is Tuesday, June 30th. Goldman Sachs BDC’s dividend payout ratio is presently 196.92%.

Institutional Trading of Goldman Sachs BDC

A number of hedge funds have recently added to or reduced their stakes in GSBD. ORG Partners LLC acquired a new position in shares of Goldman Sachs BDC during the 4th quarter valued at about $33,000. Kestra Advisory Services LLC purchased a new stake in Goldman Sachs BDC in the fourth quarter valued at approximately $57,000. Quantbot Technologies LP acquired a new position in Goldman Sachs BDC during the second quarter worth approximately $62,000. SHP Wealth Management acquired a new position in Goldman Sachs BDC during the fourth quarter worth approximately $63,000. Finally, Advisory Services Network LLC acquired a new position in Goldman Sachs BDC during the third quarter worth approximately $68,000. 28.72% of the stock is owned by institutional investors and hedge funds.

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.