Goldman Sachs BDC, Inc. (NYSE:GSBD) Receives $9.17 Consensus Target Price from Brokerages

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) have been assigned a consensus recommendation of “Reduce” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.1667.

A number of equities analysts have commented on the stock. Truist Financial cut their price objective on shares of Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, May 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Tuesday, June 2nd. Wall Street Zen lowered Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Wells Fargo & Company cut their target price on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, March 2nd. Finally, Zacks Research lowered Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th.

Insider Activity

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

Hedge Funds Weigh In On Goldman Sachs BDC

A number of institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in Goldman Sachs BDC by 3.2% during the third quarter. Van ECK Associates Corp now owns 2,889,090 shares of the financial services provider’s stock valued at $29,382,000 after buying an additional 89,009 shares in the last quarter. UBS Group AG increased its holdings in shares of Goldman Sachs BDC by 18.2% in the 4th quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider’s stock worth $14,915,000 after acquiring an additional 247,163 shares during the period. Invesco Ltd. increased its holdings in shares of Goldman Sachs BDC by 40.1% in the 4th quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider’s stock worth $13,835,000 after acquiring an additional 426,859 shares during the period. Ares Management LLC increased its holdings in shares of Goldman Sachs BDC by 77.0% in the 4th quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider’s stock worth $13,113,000 after acquiring an additional 614,637 shares during the period. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Goldman Sachs BDC by 412.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock worth $12,419,000 after acquiring an additional 888,608 shares during the period. 28.72% of the stock is owned by institutional investors and hedge funds.

Goldman Sachs BDC Trading Down 1.3%

NYSE GSBD opened at $9.19 on Friday. The company’s fifty day simple moving average is $9.25 and its 200-day simple moving average is $9.33. Goldman Sachs BDC has a 52 week low of $8.65 and a 52 week high of $12.03. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39. The stock has a market cap of $1.03 billion, a P/E ratio of 14.13 and a beta of 0.58.

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

Goldman Sachs BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Goldman Sachs BDC’s dividend payout ratio is presently 196.92%.

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.