Goldman Sachs BDC’s (GSBD) “Underperform” Rating Reaffirmed at Bank of America

Goldman Sachs BDC (NYSE:GSBD)‘s stock had its “underperform” rating reissued by Bank of America in a research note issued on Thursday,Benzinga reports. They currently have a $8.50 price target on the financial services provider’s stock, down from their prior price target of $9.00. Bank of America‘s price objective points to a potential downside of 4.87% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Tuesday, June 2nd. Truist Financial decreased their price objective 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. The Goldman Sachs Group cut Goldman Sachs BDC from a “neutral” rating to a “reduce” rating in a research report on Thursday. Finally, Zacks Research cut Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Three analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Goldman Sachs BDC currently has an average rating of “Strong Sell” and a consensus price target of $9.00.

Goldman Sachs BDC Price Performance

NYSE:GSBD opened at $8.94 on Thursday. The stock has a market cap of $1.01 billion, a P/E ratio of 13.75 and a beta of 0.56. Goldman Sachs BDC has a one year low of $8.65 and a one year high of $12.03. The company has a fifty day moving average price of $9.23 and a 200 day moving average price of $9.27. 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 (NYSE:GSBD) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $10.35 million during the quarter, compared to analyst estimates of $83.78 million. Analysts anticipate that Goldman Sachs BDC will post 1.15 earnings per share for the current year.

Institutional Trading of Goldman Sachs BDC

A number of large investors have recently bought and sold shares of the stock. ORG Partners LLC bought a new position in shares of Goldman Sachs BDC during the fourth quarter valued at $33,000. Kestra Advisory Services LLC bought a new stake in shares of Goldman Sachs BDC in the 4th quarter worth about $57,000. Quantbot Technologies LP acquired a new stake in shares of Goldman Sachs BDC during the 2nd quarter worth about $62,000. SHP Wealth Management acquired a new stake in shares of Goldman Sachs BDC during the 4th quarter worth about $63,000. Finally, Advisory Services Network LLC bought a new position in Goldman Sachs BDC during the 3rd quarter valued at about $68,000. 28.72% of the stock is currently owned by institutional investors.

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.