Goldman Sachs BDC (NYSE:GSBD) Hits New 52-Week Low After Analyst Downgrade

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) hit a new 52-week low during trading on Monday after Wells Fargo & Company lowered their price target on the stock from $9.00 to $8.00. Wells Fargo & Company currently has an underweight rating on the stock. Goldman Sachs BDC traded as low as $8.81 and last traded at $9.1050, with a volume of 432417 shares. The stock had previously closed at $9.06.

Other analysts have also issued research reports about the stock. Lucid Cap Mkts raised shares of Goldman Sachs BDC to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Goldman Sachs BDC in a research note on Monday, December 29th. Zacks Research upgraded shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, The Goldman Sachs Group initiated coverage on Goldman Sachs BDC in a report on Monday, December 15th. They issued a “neutral” rating and a $10.50 price objective for the company. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $9.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its holdings in shares of Goldman Sachs BDC by 4.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 27,847 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 1,082 shares during the period. IHT Wealth Management LLC increased its position in Goldman Sachs BDC by 5.7% during the second quarter. IHT Wealth Management LLC now owns 21,647 shares of the financial services provider’s stock worth $244,000 after buying an additional 1,173 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Goldman Sachs BDC by 1.4% in the third quarter. Ameriprise Financial Inc. now owns 100,190 shares of the financial services provider’s stock valued at $1,019,000 after buying an additional 1,397 shares during the period. Wellington Shields & Co. LLC raised its stake in Goldman Sachs BDC by 7.1% in the third quarter. Wellington Shields & Co. LLC now owns 21,650 shares of the financial services provider’s stock valued at $220,000 after buying an additional 1,430 shares during the period. Finally, Founders Financial Alliance LLC lifted its position in shares of Goldman Sachs BDC by 3.2% in the fourth quarter. Founders Financial Alliance LLC now owns 46,643 shares of the financial services provider’s stock valued at $433,000 after buying an additional 1,444 shares during the last quarter. Institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Price Performance

The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $1.03 billion, a P/E ratio of 8.82 and a beta of 0.62. The company has a 50 day moving average price of $9.30 and a 200 day moving average price of $9.96.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Goldman Sachs BDC had a return on equity of 12.06% and a net margin of 32.62%.The business had revenue of $38.79 million during the quarter, compared to the consensus estimate of $87.18 million. On average, equities analysts predict that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date is Tuesday, March 31st. Goldman Sachs BDC’s dividend payout ratio (DPR) is currently 123.08%.

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.