Goldman Sachs BDC (NYSE:GSBD) Hits New 12-Month Low – Should You Sell?

Goldman Sachs BDC, Inc. (NYSE:GSBD)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $9.35 and last traded at $9.4650, with a volume of 107922 shares traded. The stock had previously closed at $9.50.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings lowered Goldman Sachs BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Zacks Research upgraded Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Goldman Sachs BDC from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Sell” and an average price target of $9.00.

Goldman Sachs BDC Stock Down 0.4%

The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.19. The firm has a market cap of $1.08 billion, a P/E ratio of 7.53 and a beta of 0.75. The stock’s fifty day moving average is $10.25 and its two-hundred day moving average is $10.98.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $91.60 million during the quarter, compared to analyst estimates of $88.16 million. Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. As a group, research analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 27th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 13.5%. This is a boost from Goldman Sachs BDC’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, December 31st. Goldman Sachs BDC’s payout ratio is 110.34%.

Insider Buying and Selling

In related news, CEO Vivek Bantwal acquired 22,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $11.36 per share, for a total transaction of $249,920.00. Following the completion of the acquisition, the chief executive officer owned 22,000 shares in the company, valued at approximately $249,920. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.12% of the stock is currently owned by insiders.

Institutional Trading of Goldman Sachs BDC

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its holdings in Goldman Sachs BDC by 24.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 125,142 shares of the financial services provider’s stock valued at $1,455,000 after purchasing an additional 24,687 shares during the period. Meridian Wealth Management LLC grew its position in shares of Goldman Sachs BDC by 12.5% in the 1st quarter. Meridian Wealth Management LLC now owns 313,291 shares of the financial services provider’s stock worth $3,644,000 after buying an additional 34,833 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Goldman Sachs BDC by 77.2% during the first quarter. HB Wealth Management LLC now owns 67,268 shares of the financial services provider’s stock valued at $782,000 after buying an additional 29,296 shares during the period. HighTower Advisors LLC raised its holdings in shares of Goldman Sachs BDC by 53.4% during the first quarter. HighTower Advisors LLC now owns 287,978 shares of the financial services provider’s stock valued at $3,349,000 after acquiring an additional 100,283 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Goldman Sachs BDC by 9.3% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 457,137 shares of the financial services provider’s stock worth $5,143,000 after acquiring an additional 39,067 shares during the period. Institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Company Profile

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.