Cornerstone Advisory LLC Acquires New Position in Goldman Sachs BDC, Inc. (NYSE:GSBD)

Cornerstone Advisory LLC purchased a new position in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) in the fourth quarter, Holdings Channel reports. The fund purchased 52,520 shares of the financial services provider’s stock, valued at approximately $681,000.

A number of other institutional investors also recently bought and sold shares of GSBD. Generali Asset Management SPA SGR purchased a new position in Goldman Sachs BDC during the 4th quarter worth approximately $12,879,000. Raymond James Financial Inc. purchased a new position in Goldman Sachs BDC during the 4th quarter worth approximately $8,114,000. Trexquant Investment LP grew its stake in shares of Goldman Sachs BDC by 300.2% during the 4th quarter. Trexquant Investment LP now owns 349,927 shares of the financial services provider’s stock worth $4,234,000 after purchasing an additional 262,488 shares during the period. First National Trust Co acquired a new stake in shares of Goldman Sachs BDC during the 4th quarter worth approximately $2,680,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Goldman Sachs BDC during the 4th quarter worth approximately $1,690,000. 28.72% of the stock is owned by hedge funds and other institutional investors.

Goldman Sachs BDC Price Performance

Goldman Sachs BDC stock opened at $11.01 on Thursday. The company’s fifty day moving average price is $11.04 and its 200 day moving average price is $12.13. Goldman Sachs BDC, Inc. has a 1 year low of $9.51 and a 1 year high of $15.81. The stock has a market capitalization of $1.29 billion, a P/E ratio of 15.72 and a beta of 0.71. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.26 and a current ratio of 1.26.

Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, May 8th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Goldman Sachs BDC had a return on equity of 15.72% and a net margin of 17.01%. The business had revenue of $96.94 million for the quarter, compared to analyst estimates of $101.12 million. As a group, equities research analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current fiscal year.

Goldman Sachs BDC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 11.63%. The ex-dividend date is Monday, June 30th. This is a boost from Goldman Sachs BDC’s previous quarterly dividend of $0.16. Goldman Sachs BDC’s payout ratio is 284.44%.

Wall Street Analyst Weigh In

GSBD has been the topic of a number of analyst reports. StockNews.com raised shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research note on Sunday, March 23rd. Wells Fargo & Company dropped their price objective on shares of Goldman Sachs BDC from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, April 28th.

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.