426,497 Goldman Sachs BDC, Inc. $GSBD Shares Sold by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR lessened its stake in Goldman Sachs BDC, Inc. (NYSE:GSBD) by 12.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,867,525 shares of the financial services provider’s stock after selling 426,497 shares during the period. Generali Asset Management SPA SGR’s holdings in Goldman Sachs BDC were worth $26,066,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Goldman Sachs BDC by 1.2% in the first quarter. Bank of America Corp DE now owns 997,570 shares of the financial services provider’s stock valued at $8,858,000 after buying an additional 11,915 shares during the period. Columbus Macro LLC lifted its stake in shares of Goldman Sachs BDC by 6.4% in the third quarter. Columbus Macro LLC now owns 659,477 shares of the financial services provider’s stock worth $5,995,000 after acquiring an additional 39,626 shares during the period. SBE LLC DBA Cedar Cove Wealth Partners lifted its stake in shares of Goldman Sachs BDC by 4.3% in the third quarter. SBE LLC DBA Cedar Cove Wealth Partners now owns 211,445 shares of the financial services provider’s stock worth $1,922,000 after acquiring an additional 8,685 shares during the period. Pension & Wealth Management Advisors Inc. lifted its stake in shares of Goldman Sachs BDC by 12.4% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 192,199 shares of the financial services provider’s stock worth $1,747,000 after acquiring an additional 21,169 shares during the period. Finally, Quadrant Private Wealth Management LLC boosted its holdings in Goldman Sachs BDC by 12.2% in the first quarter. Quadrant Private Wealth Management LLC now owns 160,483 shares of the financial services provider’s stock valued at $1,476,000 after acquiring an additional 17,423 shares during the last quarter. Institutional investors own 28.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Truist Financial increased their target price on shares of Goldman Sachs BDC from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, August 10th. The Goldman Sachs Group downgraded shares of Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 price target on the stock. in a research report on Thursday, July 9th. Bank of America reaffirmed an “underperform” rating and issued a $8.50 price objective (down from $9.00) on shares of Goldman Sachs BDC in a research note on Thursday, July 9th. Wall Street Zen raised shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of Goldman Sachs BDC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Goldman Sachs BDC currently has an average rating of “Reduce” and a consensus target price of $8.75.

Goldman Sachs BDC Trading Up 2.2%

NYSE:GSBD opened at $8.76 on Wednesday. The company has a fifty day moving average of $9.41 and a 200-day moving average of $9.26. Goldman Sachs BDC, Inc. has a twelve month low of $8.35 and a twelve month high of $10.38.

Goldman Sachs BDC (NYSE:GSBD) last released its earnings results on Thursday, August 6th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $83.72 million for the quarter, compared to analyst estimates of $78.89 million. On average, sell-side analysts predict that Goldman Sachs BDC, Inc. will post 1.30 EPS for the current year.

Goldman Sachs BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, September 30th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 14.6%. The ex-dividend date of this dividend is Wednesday, September 30th.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc (NYSE:GSBD) is a business development company that provides financing to privately owned, middle-market companies. The company seeks to generate income and long-term capital appreciation by investing primarily in debt securities and, to a lesser extent, equity interests.

GSBD’s portfolio may include senior secured loans, first-lien and unitranche investments, second-lien loans, subordinated debt, and equity-related investments. Its financing supports companies across a range of industries and is generally used for acquisitions, recapitalizations, growth initiatives, refinancing, and other corporate purposes.

Goldman Sachs BDC is externally managed by an affiliate of Goldman Sachs Asset Management and benefits from the investment platform and resources of the Goldman Sachs organization.