Wall Street Zen Downgrades Goldman Sachs BDC (NYSE:GSBD) to Sell

Goldman Sachs BDC (NYSE:GSBD) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group began coverage on shares of Goldman Sachs BDC in a report on Monday, December 15th. They issued a “neutral” rating and a $10.50 target price for the company. Weiss Ratings upgraded Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Wells Fargo & Company lowered their price target on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, March 2nd. Truist Financial dropped their price objective on Goldman Sachs BDC from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Zacks Research upgraded Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Goldman Sachs BDC has a consensus rating of “Reduce” and an average target price of $9.50.

Goldman Sachs BDC Trading Up 0.5%

Shares of GSBD stock opened at $9.35 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.01 and a quick ratio of 1.81. The firm has a market cap of $1.05 billion, a PE ratio of 8.99 and a beta of 0.62. The company has a 50-day moving average of $9.29 and a two-hundred day moving average of $9.94. Goldman Sachs BDC has a 1-year low of $8.81 and a 1-year high of $12.48.

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 for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $38.79 million during the quarter, compared to analysts’ expectations of $87.18 million. Goldman Sachs BDC had a net margin of 32.62% and a return on equity of 12.23%. On average, analysts predict that Goldman Sachs BDC will post 2.19 EPS for the current year.

Institutional Investors Weigh In On Goldman Sachs BDC

Several large investors have recently bought and sold shares of GSBD. MTM Investment Management LLC acquired a new stake in Goldman Sachs BDC in the 2nd quarter valued at about $25,000. ORG Partners LLC purchased a new position in shares of Goldman Sachs BDC in the 4th quarter valued at about $33,000. CWM LLC grew its position in shares of Goldman Sachs BDC by 187.8% during the third quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock worth $49,000 after buying an additional 3,174 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Goldman Sachs BDC during the third quarter worth approximately $51,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Goldman Sachs BDC during the fourth quarter worth approximately $57,000. Hedge funds and other institutional investors own 28.72% of the company’s stock.

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.