Goldman Sachs BDC (NYSE:GSBD) Stock Gets Price Target Trim from Truist Financial

Goldman Sachs BDC (NYSE:GSBD) had its price objective decreased by equities researchers at Truist Financial from $10.00 to $9.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial‘s target price suggests a potential upside of 5.45% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Wall Street Zen raised Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research raised Goldman Sachs BDC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 29th. Finally, Weiss Ratings lowered Goldman Sachs BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Goldman Sachs BDC currently has a consensus rating of “Reduce” and a consensus target price of $8.50.

Goldman Sachs BDC Stock Performance

NYSE GSBD traded down $0.04 during trading on Tuesday, hitting $8.54. 145,045 shares of the company’s stock traded hands, compared to its average volume of 1,161,403. The business has a 50 day moving average of $9.20 and a 200-day moving average of $9.24. The stock has a market capitalization of $960.78 million, a price-to-earnings ratio of 32.79 and a beta of 0.62. Goldman Sachs BDC has a 12-month low of $8.35 and a 12-month high of $10.38. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.69 and a current ratio of 0.69.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Goldman Sachs BDC had a net margin of 17.19% and a return on equity of 11.04%. The business had revenue of $74.99 million during the quarter, compared to analysts’ expectations of $80.13 million. As a group, equities research analysts anticipate that Goldman Sachs BDC will post 1.30 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Goldman Sachs BDC

Hedge funds have recently made changes to their positions in the business. Bridgewealth Advisory Group LLC bought a new stake in Goldman Sachs BDC in the third quarter worth $147,000. Global Wealth Management Investment Advisory Inc. grew its stake in shares of Goldman Sachs BDC by 5.6% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 118,608 shares of the financial services provider’s stock valued at $1,078,000 after buying an additional 6,311 shares during the last quarter. Private Management Group Inc. grew its stake in shares of Goldman Sachs BDC by 5.0% during the third quarter. Private Management Group Inc. now owns 5,440,142 shares of the financial services provider’s stock valued at $49,451,000 after buying an additional 261,504 shares during the last quarter. Ethic Inc. bought a new position in shares of Goldman Sachs BDC during the third quarter valued at about $669,000. Finally, Arlington Capital Management INC bought a new position in shares of Goldman Sachs BDC during the third quarter valued at about $566,000. 28.72% of the stock is currently owned by institutional investors.

Goldman Sachs BDC Company Profile

Goldman Sachs BDC, Inc is a business development company that provides financing to middle-market companies, primarily in the United States. It seeks to support businesses that may need capital for growth, acquisitions, refinancing, or other corporate purposes.

The company invests mainly in debt securities, including senior secured, unitranche, second-lien, and subordinated loans. It may also make equity and equity-related investments, often alongside its lending activities.

Goldman Sachs BDC is externally managed by Goldman Sachs Asset Management, part of Goldman Sachs.