Goldman Sachs BDC (NYSE:GSBD) Downgraded by StockNews.com

StockNews.com cut shares of Goldman Sachs BDC (NYSE:GSBD) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

Separately, Wells Fargo & Company increased their price target on Goldman Sachs BDC from $14.50 to $15.00 and gave the company an equal weight rating in a report on Monday, January 29th.

Goldman Sachs BDC Price Performance

Goldman Sachs BDC stock opened at $15.19 on Monday. Goldman Sachs BDC has a 52-week low of $12.96 and a 52-week high of $15.94. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 7.91 and a beta of 1.11. The firm’s fifty day moving average is $15.29 and its 200 day moving average is $15.11. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.12.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Goldman Sachs BDC had a net margin of 45.80% and a return on equity of 15.68%. The business had revenue of $115.40 million during the quarter, compared to the consensus estimate of $117.09 million. Sell-side analysts forecast that Goldman Sachs BDC will post 2.14 EPS for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 11.85%. The ex-dividend date is Thursday, June 27th. Goldman Sachs BDC’s payout ratio is currently 93.75%.

Institutional Investors Weigh In On Goldman Sachs BDC

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sage Rhino Capital LLC grew its position in Goldman Sachs BDC by 92.9% in the 4th quarter. Sage Rhino Capital LLC now owns 168,570 shares of the financial services provider’s stock valued at $2,470,000 after acquiring an additional 81,172 shares during the last quarter. Investment Partners Asset Management Inc. purchased a new position in Goldman Sachs BDC in the 4th quarter worth about $1,211,000. Envestnet Asset Management Inc. bought a new stake in Goldman Sachs BDC during the 3rd quarter valued at about $4,285,000. Raymond James Financial Services Advisors Inc. boosted its position in Goldman Sachs BDC by 6.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,107,581 shares of the financial services provider’s stock valued at $16,226,000 after buying an additional 67,482 shares during the period. Finally, Callodine Capital Management LP grew its stake in Goldman Sachs BDC by 50.0% in the 3rd quarter. Callodine Capital Management LP now owns 450,000 shares of the financial services provider’s stock worth $6,552,000 after acquiring an additional 150,000 shares in the last quarter. 28.72% of the stock is currently owned by hedge funds and other 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.