Goldman Sachs BDC, Inc. (NYSE:GSBD – Get Free Report)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $8.65 and last traded at $8.7850, with a volume of 279785 shares changing hands. The stock had previously closed at $8.75.
Analyst Upgrades and Downgrades
GSBD has been the subject of several research reports. Wells Fargo & Company dropped their price target on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, March 2nd. Weiss Ratings upgraded Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. Truist Financial set a $9.00 price target on Goldman Sachs BDC in a research report on Tuesday. Finally, Wall Street Zen cut Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Goldman Sachs BDC currently has a consensus rating of “Reduce” and an average target price of $9.17.
Read Our Latest Analysis on GSBD
Goldman Sachs BDC Price Performance
Goldman Sachs BDC (NYSE:GSBD – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.22 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 firm had revenue of $10.35 million for the quarter, compared to analysts’ expectations of $83.78 million. Sell-side analysts predict that Goldman Sachs BDC, Inc. will post 1.23 EPS for the current year.
Goldman Sachs BDC Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a yield of 14.6%. Goldman Sachs BDC’s payout ratio is 196.92%.
Insiders Place Their Bets
In related news, Director Carlos E. Evans acquired 50,000 shares of the stock in a transaction on Thursday, April 2nd. The shares were bought at an average price of $9.02 per share, with a total value of $451,000.00. Following the completion of the purchase, the director owned 64,446 shares of the company’s stock, valued at approximately $581,302.92. This represents a 346.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.
Hedge Funds Weigh In On Goldman Sachs BDC
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GSBD. ORG Partners LLC acquired a new position in Goldman Sachs BDC during the fourth quarter worth $33,000. CWM LLC boosted its stake in Goldman Sachs BDC by 187.8% during the third quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock worth $49,000 after buying an additional 3,174 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Goldman Sachs BDC during the third quarter worth $51,000. Kestra Advisory Services LLC acquired a new position in Goldman Sachs BDC during the fourth quarter worth $57,000. Finally, Quantbot Technologies LP acquired a new position in Goldman Sachs BDC during the second quarter worth $62,000. Institutional investors and hedge funds own 28.72% of the company’s stock.
About Goldman Sachs BDC
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.
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