Goldman Sachs BDC (NYSE:GSBD) Hits New 12-Month Low – Here’s What Happened

Goldman Sachs BDC, Inc. (NYSE:GSBD) hit a new 52-week low during trading on Tuesday . The stock traded as low as $9.19 and last traded at $9.1850, with a volume of 185849 shares trading hands. The stock had previously closed at $9.31.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GSBD. The Goldman Sachs Group initiated coverage on shares of Goldman Sachs BDC in a report on Monday, December 15th. They issued a “neutral” rating and a $10.50 target price for the company. Lucid Cap Mkts upgraded Goldman Sachs BDC to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Goldman Sachs BDC in a report on Monday, December 29th. Zacks Research upgraded Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, Wells Fargo & Company decreased their price objective on shares of 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. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $9.75.

Goldman Sachs BDC Trading Down 1.7%

The business’s 50-day simple moving average is $9.76 and its 200-day simple moving average is $10.61. The company has a market cap of $1.04 billion, a PE ratio of 7.89 and a beta of 0.63. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.27.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $88.16 million. Goldman Sachs BDC had a return on equity of 12.78% and a net margin of 34.72%. As a group, analysts expect that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 27th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.32 per share. This is a boost from Goldman Sachs BDC’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, December 31st. This represents a $1.28 annualized dividend and a dividend yield of 14.0%. Goldman Sachs BDC’s dividend payout ratio is currently 110.34%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MTM Investment Management LLC acquired a new stake in Goldman Sachs BDC in the 2nd quarter valued at approximately $25,000. Farther Finance Advisors LLC bought a new stake in Goldman Sachs BDC in the 2nd quarter valued at $34,000. CWM LLC increased its holdings in shares of Goldman Sachs BDC by 187.8% during the 3rd quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 3,174 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Goldman Sachs BDC in the third quarter valued at about $51,000. Finally, Private Trust Co. NA grew its position in Goldman Sachs BDC by 1,471.7% during the second quarter. Private Trust Co. NA now owns 5,045 shares of the financial services provider’s stock worth $57,000 after buying an additional 4,724 shares in the last quarter. 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.