Goldman Sachs BDC (NYSE:GSBD) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a sell rating to a hold rating in a research note published on Wednesday morning.

A number of other research analysts also recently weighed in on the company. Wells Fargo & Company raised Goldman Sachs BDC from an underweight rating to an equal weight rating and cut their price objective for the company from $14.00 to $12.00 in a research note on Monday, August 12th. Truist Financial dropped their price target on shares of Goldman Sachs BDC from $16.00 to $14.00 and set a hold rating on the stock in a research report on Monday, August 12th.

Goldman Sachs BDC Stock Performance

GSBD stock opened at $14.42 on Wednesday. The firm has a 50 day moving average of $14.29 and a two-hundred day moving average of $14.97. Goldman Sachs BDC has a 12 month low of $13.39 and a 12 month high of $15.94. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 7.51 and a beta of 1.07. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.22.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Goldman Sachs BDC had a net margin of 19.84% and a return on equity of 15.79%. The firm had revenue of $108.62 million during the quarter, compared to analysts’ expectations of $112.07 million. As a group, equities analysts anticipate that Goldman Sachs BDC will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, September 30th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.80 annualized dividend and a dividend yield of 12.48%. Goldman Sachs BDC’s dividend payout ratio is presently 93.75%.

Institutional Investors Weigh In On Goldman Sachs BDC

Several hedge funds and other institutional investors have recently modified their holdings of GSBD. Norden Group LLC increased its stake in Goldman Sachs BDC by 1,000.5% during the first quarter. Norden Group LLC now owns 119,304 shares of the financial services provider’s stock valued at $1,787,000 after acquiring an additional 108,463 shares during the period. Shikiar Asset Management Inc. increased its position in shares of Goldman Sachs BDC by 16.1% during the second quarter. Shikiar Asset Management Inc. now owns 554,290 shares of the financial services provider’s stock valued at $8,331,000 after purchasing an additional 76,715 shares during the period. Confluence Investment Management LLC acquired a new position in shares of Goldman Sachs BDC in the first quarter valued at $2,786,000. Naviter Wealth LLC bought a new position in Goldman Sachs BDC in the first quarter worth $1,304,000. Finally, Cetera Advisors LLC boosted its stake in Goldman Sachs BDC by 762.7% during the first quarter. Cetera Advisors LLC now owns 136,015 shares of the financial services provider’s stock worth $2,038,000 after buying an additional 120,249 shares in the last quarter. Institutional investors and hedge funds own 28.72% of the company’s stock.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.