Goldman Sachs BDC (NYSE:GSBD) Stock Rating Lowered by Zacks Research

Goldman Sachs BDC (NYSE:GSBD) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on GSBD. Truist Financial cut their price objective 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. Wall Street Zen downgraded shares of Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Wells Fargo & Company cut their price objective on shares of 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. Finally, Weiss Ratings raised shares of Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $9.17.

Goldman Sachs BDC Price Performance

Shares of GSBD opened at $8.94 on Tuesday. The firm has a market cap of $1.01 billion, a PE ratio of 13.75 and a beta of 0.62. 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 firm has a fifty day simple moving average of $9.28 and a two-hundred day simple moving average of $9.43. Goldman Sachs BDC has a 1-year low of $8.65 and a 1-year high of $12.03.

Goldman Sachs BDC (NYSE:GSBD) last issued 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). Goldman Sachs BDC had a net margin of 21.32% and a return on equity of 10.94%. The business had revenue of $10.35 million for the quarter, compared to the consensus estimate of $83.78 million. On average, equities analysts anticipate that Goldman Sachs BDC will post 1.23 EPS for the current year.

Insiders Place Their Bets

In other news, Director Carlos E. Evans bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was bought at an average price of $9.02 per share, with a total value of $451,000.00. Following the acquisition, the director 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its stake in 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 purchasing an additional 888,608 shares in the last quarter. Ares Management LLC lifted its stake in 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 purchasing an additional 614,637 shares in the last quarter. American Financial Group Inc. purchased a new stake in Goldman Sachs BDC in the 4th quarter worth $4,701,000. Invesco Ltd. raised its position in shares of Goldman Sachs BDC by 40.1% during the 4th quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider’s stock valued at $13,835,000 after buying an additional 426,859 shares in the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new stake in shares of Goldman Sachs BDC during the 4th quarter valued at about $3,858,000. 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.