Goldman Sachs BDC, Inc. (NYSE:GSBD) Sees Significant Increase in Short Interest

Goldman Sachs BDC, Inc. (NYSE:GSBD) was the target of a large increase in short interest in January. As of January 30th, there was short interest totaling 2,633,872 shares, an increase of 25.5% from the January 15th total of 2,098,901 shares. Based on an average trading volume of 1,389,792 shares, the days-to-cover ratio is currently 1.9 days. Approximately 2.3% of the shares of the stock are short sold. Approximately 2.3% of the shares of the stock are short sold. Based on an average trading volume of 1,389,792 shares, the days-to-cover ratio is currently 1.9 days.

Goldman Sachs BDC Stock Performance

GSBD stock remained flat at $9.23 during midday trading on Tuesday. The company’s stock had a trading volume of 1,502,278 shares, compared to its average volume of 1,512,061. Goldman Sachs BDC has a 12 month low of $8.92 and a 12 month high of $13.44. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average price of $9.43 and a two-hundred day moving average price of $10.11. The stock has a market cap of $1.05 billion, a P/E ratio of 7.96 and a beta of 0.62.

Wall Street Analysts Forecast Growth

GSBD has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on Goldman Sachs BDC from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. The Goldman Sachs Group initiated coverage on Goldman Sachs BDC in a research note on Monday, December 15th. They set a “neutral” rating and a $10.50 target price for the company. Zacks Research raised shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Goldman Sachs BDC in a research report on Monday, December 29th. Finally, Lucid Cap Mkts raised shares of Goldman Sachs BDC to a “hold” rating in a report on Monday, December 15th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $9.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in shares of Goldman Sachs BDC by 3.2% in the third quarter. Van ECK Associates Corp now owns 2,889,090 shares of the financial services provider’s stock valued at $29,382,000 after purchasing an additional 89,009 shares during the last quarter. UBS Group AG grew its holdings in Goldman Sachs BDC by 18.2% in the 4th quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider’s stock valued at $14,915,000 after buying an additional 247,163 shares in the last quarter. Ares Management LLC increased its stake in shares of Goldman Sachs BDC by 77.0% in the 4th quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider’s stock worth $13,113,000 after acquiring an additional 614,637 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Goldman Sachs BDC by 412.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock worth $12,419,000 after acquiring an additional 888,608 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Goldman Sachs BDC by 14.2% during the 3rd quarter. Invesco Ltd. now owns 1,063,940 shares of the financial services provider’s stock valued at $10,820,000 after acquiring an additional 132,322 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors and hedge funds.

Goldman Sachs BDC Company Profile

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.