HighTower Advisors LLC Trims Stock Holdings in Goldman Sachs BDC, Inc. $GSBD

HighTower Advisors LLC lowered its holdings in Goldman Sachs BDC, Inc. (NYSE:GSBD) by 39.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,350 shares of the financial services provider’s stock after selling 57,483 shares during the period. HighTower Advisors LLC owned about 0.08% of Goldman Sachs BDC worth $829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sage Rhino Capital LLC grew its holdings in shares of Goldman Sachs BDC by 39.9% during the fourth quarter. Sage Rhino Capital LLC now owns 409,885 shares of the financial services provider’s stock valued at $3,804,000 after buying an additional 117,000 shares in the last quarter. UBS Group AG grew its holdings in shares of Goldman Sachs BDC by 18.2% during the fourth quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider’s stock valued at $14,915,000 after buying an additional 247,163 shares in the last quarter. Argentarii LLC purchased a new position in shares of Goldman Sachs BDC during the fourth quarter valued at $585,000. TrueMark Investments LLC purchased a new position in shares of Goldman Sachs BDC during the fourth quarter valued at $902,000. Finally, Ethos Financial Group LLC grew its holdings in shares of Goldman Sachs BDC by 247.0% during the fourth quarter. Ethos Financial Group LLC now owns 93,005 shares of the financial services provider’s stock valued at $884,000 after buying an additional 66,203 shares in the last quarter. Hedge funds and other institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Stock Performance

Shares of NYSE GSBD opened at $8.86 on Friday. The business’s 50-day moving average price is $9.23 and its two-hundred day moving average price is $9.36. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11. Goldman Sachs BDC, Inc. has a one year low of $8.65 and a one year high of $12.03. The company has a market capitalization of $996.81 million, a P/E ratio of 13.62 and a beta of 0.58.

Goldman Sachs BDC (NYSE:GSBD) last issued its earnings results 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 net margin of 21.32% and a return on equity of 10.94%. The firm had revenue of $10.35 million during the quarter, compared to analysts’ expectations of $83.78 million. Analysts anticipate that Goldman Sachs BDC, Inc. will post 1.15 earnings per share for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a yield of 14.5%. Goldman Sachs BDC’s payout ratio is 196.92%.

Insider Buying and Selling

In other news, Director Carlos E. Evans bought 50,000 shares of the stock in a transaction on Thursday, April 2nd. The shares were purchased at an average price of $9.02 per share, for a total transaction of $451,000.00. Following the completion of the purchase, the director directly owned 64,446 shares of the company’s stock, valued at $581,302.92. This trade represents a 346.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

GSBD has been the topic of a number of research analyst reports. Truist Financial lowered their price target on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, May 19th. Wall Street Zen downgraded Goldman Sachs BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a report on Tuesday. Wells Fargo & Company lowered their price target on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, March 2nd. Finally, Zacks Research downgraded Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $9.17.

Goldman Sachs BDC Company Profile

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.