Wells Fargo & Company Cuts Goldman Sachs BDC (NYSE:GSBD) Price Target to $9.00

Goldman Sachs BDC (NYSE:GSBD) had its target price decreased by Wells Fargo & Company from $10.00 to $9.00 in a research report report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on GSBD. Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Sell” and an average target price of $9.00.

Goldman Sachs BDC Price Performance

Goldman Sachs BDC stock opened at $9.84 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.50 and a current ratio of 1.50. Goldman Sachs BDC has a 52 week low of $9.38 and a 52 week high of $13.44. The stock has a market capitalization of $1.12 billion, a P/E ratio of 7.81 and a beta of 0.75. The stock has a fifty day moving average of $10.35 and a 200-day moving average of $11.00.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $91.60 million for the quarter, compared to analyst estimates of $88.16 million. Goldman Sachs BDC had a return on equity of 13.95% and a net margin of 36.17%. On average, sell-side analysts expect that Goldman Sachs BDC will post 2.19 earnings per share for the current fiscal year.

Goldman Sachs BDC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 27th. Investors of record on Wednesday, December 31st will be paid a $0.32 dividend. This is a positive change from Goldman Sachs BDC’s previous quarterly dividend of $0.04. This represents a $1.28 annualized dividend and a dividend yield of 13.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Goldman Sachs BDC’s payout ratio is presently 110.34%.

Insider Transactions at Goldman Sachs BDC

In related news, CEO Vivek Bantwal bought 22,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were purchased at an average cost of $11.36 per share, with a total value of $249,920.00. Following the acquisition, the chief executive officer owned 22,000 shares of the company’s stock, valued at $249,920. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Goldman Sachs BDC

Hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in Goldman Sachs BDC by 6.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,835 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 1,147 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Goldman Sachs BDC by 24.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 125,142 shares of the financial services provider’s stock worth $1,455,000 after purchasing an additional 24,687 shares during the period. Apollon Wealth Management LLC boosted its stake in shares of Goldman Sachs BDC by 61.7% in the 1st quarter. Apollon Wealth Management LLC now owns 46,465 shares of the financial services provider’s stock valued at $540,000 after purchasing an additional 17,725 shares during the last quarter. BluePointe Capital Management LLC increased its position in shares of Goldman Sachs BDC by 13.8% during the first quarter. BluePointe Capital Management LLC now owns 32,210 shares of the financial services provider’s stock worth $390,000 after buying an additional 3,904 shares during the period. Finally, Mandatum Life Insurance Co Ltd raised its stake in Goldman Sachs BDC by 35.3% during the first quarter. Mandatum Life Insurance Co Ltd now owns 56,371 shares of the financial services provider’s stock worth $656,000 after buying an additional 14,696 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors.

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.