Goldman Sachs BDC (NYSE:GSBD) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Goldman Sachs BDC, Inc. (NYSE:GSBD)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $9.27 and traded as low as $9.18. Goldman Sachs BDC shares last traded at $9.2550, with a volume of 768,616 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on GSBD. Zacks Research lowered shares of Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Wells Fargo & Company dropped their price objective on shares of Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, March 2nd. Truist Financial cut their target price on shares of Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Tuesday, June 2nd. Finally, Wall Street Zen cut shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $9.17.

Goldman Sachs BDC Stock Performance

The company has a market capitalization of $1.04 billion, a P/E ratio of 14.24 and a beta of 0.58. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. The business’s fifty day simple moving average is $9.27 and its 200-day simple moving average is $9.30.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $10.35 million during the quarter, compared to the consensus estimate of $83.78 million. Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%. As a group, equities analysts anticipate that Goldman Sachs BDC, Inc. will post 1.15 earnings per share for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a yield of 13.8%. Goldman Sachs BDC’s dividend payout ratio is presently 196.92%.

Insider Activity at Goldman Sachs BDC

In other Goldman Sachs BDC news, Director Carlos E. Evans acquired 50,000 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was acquired at an average cost of $9.02 per share, with a total value of $451,000.00. Following the purchase, the director directly owned 64,446 shares of the company’s stock, valued at approximately $581,302.92. This represents a 346.12% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Saxon Interests Inc. increased its stake in Goldman Sachs BDC by 0.8% during the first quarter. Saxon Interests Inc. now owns 122,912 shares of the financial services provider’s stock worth $1,091,000 after acquiring an additional 1,032 shares during the last quarter. IHT Wealth Management LLC lifted its stake in shares of Goldman Sachs BDC by 5.7% in the 2nd quarter. IHT Wealth Management LLC now owns 21,647 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 1,173 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Goldman Sachs BDC by 1.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 100,190 shares of the financial services provider’s stock worth $1,019,000 after purchasing an additional 1,397 shares during the period. Founders Financial Alliance LLC boosted its holdings in shares of Goldman Sachs BDC by 3.2% in the 4th quarter. Founders Financial Alliance LLC now owns 46,643 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 1,444 shares during the period. Finally, MML Investors Services LLC increased its position in shares of Goldman Sachs BDC by 3.0% during the 2nd quarter. MML Investors Services LLC now owns 55,554 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 1,599 shares during the last quarter. 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.